The property comprises a substantial end terraced chalet bungalow that is currently arranged as a 4-bedroom rental property and is fully let producing circa £2,400 pcm (£28,800 per annum). The property offers scope to create off-street parking to the front and will appeal to investors and developers. There may also be scope to increase the number of bedrooms and rental income, subject to obtaining the necessary consents.
FOR SALE BY AUCTION -
This property is due to feature in our online auction on 15 February 2024 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.
VIEWINGS -
By appointment.
SUMMARY -
SOLD FOR £320,500 - END TERRACEED CHALET BUNGALOW - CURRENTLY ARRANGED AS A 4-BEDROOM HMO
DESCRIPTION -
The property comprises a substantial end terraced chalet bungalow that is currently arranged as a 4-bedroom rental property and is fully let producing circa £2,400 pcm (£28,800 per annum). The property offers scope to create off-street parking to the front and will appeal to investors and developers. There may also be scope to increase the number of bedrooms and rental income, subject to obtaining the necessary consents.
LOCATION -
The property is situated in a highly convenient location in Filton with easy access provided to UWE, Rolls Royce, Airbus and the MOD.
ACCOMMODATION -
Please refer to floorplan for approximate room measurements and internal layout.
GROUND FLOOR -
The ground floor currently comprises an entrance hall, kitchen, two double bedrooms (one with en-suite) and a generous conservatory spanning the full width of the property.
FIRST FLOOR -
The first floor comprises three bedrooms and a bathroom.
OUTSIDE -
The property is set back from the road with a front garden that offers scope to create off-street parking. There is a large south-facing garden to the rear with a large storage shed.
TENURE -
Understood to be freehold, please refer to the legal pack for confirmation.
TENANCY DETAILS -
Each of the four rooms are let on separate ASTs as follows:
Room 1: £690 pcm
Room 2: £750 pcm
Room 3: £500 pcm
Room 4: £460 pcm
HMO LICENSING & PLANNING -
HMO licensing regulations and planning requirements are subject to regular changes, updates and even individual interpretations by the Local Authority. Prospective buyers are therefore required to make their own enquiries with the Local Authority and review the documents contained in the auction legal pack fully to satisfy themselves that the property is compliant in this respect. Maggs & Allen accept no liability in the event that any Licensing or Planning requirements/documents are not in order at the point of sale.
COMPLETION -
Completion for this lot will be 8 weeks from exchange of contracts or sooner by mutual agreement.
ENERGY PERFORMANCE CERTIFICATE (EPC) -
Rating: D
AUCTION OR BRIDGING FINANCE REQUIRED? -
Do you need a mortgage or loan quickly? Maggs & Allen have specialist Independent Brokers who can arrange residential and commercial finance on all types of property. Contact the Auction Team today to be put through to our mortgage and loan experts on 0117 9734940 or email admin@maggsandallen.co.uk
BUYER'S PREMIUM -
Please be advised that all purchasers are subject to a £1,250 plus VAT (£1,500 inc VAT) buyer’s premium payable upon exchange of contracts.
*GUIDE PRICE -
Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to Reserve Price (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
RESERVE PRICE -
The seller's minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction.
PROXY, TELEPHONE & ONLINE REMOTE BIDDING -
The auction will be held online via live video stream with buyers able to bid via telephone, online or by submitting a proxy bid. You will need to complete our remote bidding form, which is available to download from our website. The completed form, ID (driving licence or passport and a recent utility bill stating the home address of the purchaser) and a bank transfer for the Preliminary Deposit must be received no later than 24 hours before the date of the auction.
PRELIMINARY DEPOSITS -
The Preliminary Deposit required for each lot you wish to bid for will be calculated based upon the Guide Price as follows:
£1,000 - £50,000: £2,000
£51,000 - £150,000: £5,000
£151,000 and above: £10,000
If your bid is successful, the balance of the deposit monies and Buyer's Premium (£1,500 inc VAT) must be transferred to our client account within 24 hours of the auction sale. If you are unsuccessful at the auction, your Preliminary Deposit will be returned to you.
RENTAL ESTIMATES -
All rental estimates are provided in good faith. They should be verified by your own professional advisors prior to a commitment to purchase.
LETTING - WHAT CAN MAGGS & ALLEN ACHIEVE FOR YOU? -
Maggs & Allen's experienced letting team are happy to discuss the rental of this property and can advise on maximising the investment. We offer Full Management, Let Only and Rent Collection Services. Contact Jessica Archer and her team on 0117 9499000 or email lettings@maggsandallen.co.uk.
