A well-presented and extended mid-terraced property arranged as a 6-bedroom HMO with a driveway providing off-street parking to the front and a large garden to the rear. The property will be fully let producing £42,660 per annum and there is scope to increase the rental income to circa £48,000 per annum as some of the rooms are currently under-let. A superb and high-yielding rental investment.
FOR SALE BY AUCTION -
This property is due to feature in our online auction on 23 May 2024 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.
VIEWINGS -
By appointment.
SUMMARY -
SIX-BEDROOM HMO LET PRODUCING £42,660 PER ANNUM - LARGE GARDEN AND OFF-STREET PARKING
DESCRIPTION -
A well-presented and extended mid-terraced property arranged as a 6-bedroom HMO with a driveway providing off-street parking to the front and a large garden to the rear. The property will be fully let producing £42,660 per annum from 1st May 2024 and there is scope to increase the rental income to circa £48,000 per annum as some of the rooms are currently under-let. A superb and high-yielding rental investment.
LOCATION -
The property is situated on Easton Road, a quiet cul de sac in the village of Pill, under 2 miles from M5 Junction 19 and approximately 4 miles northwest of Bristol city centre. Easy access is provided to Clifton via the Suspension Bridge and a range of amenities are available locally.
ACCOMMODATION -
Please refer to floorplan for approximate room measurements and internal layout.
GROUND FLOOR -
Comprising an entrance porch, living room, kitchen, two double bedrooms and a shower room.
FIRST FLOOR -
Comprising four further bedrooms and a bathroom.
TENANCY DETAILS -
All of the rooms are let on ASTs at the following rents:
ROOM 1: £750 PCM
ROOM 2: £575 PCM (increasing to £600 pcm from 1st May 2024)
ROOM 3: £535 PCM
ROOM 4: £500 PCM
ROOM 5: £595 PCM
ROOM 6: Currently vacant (available at £575 pcm)
TOTAL: £42,660 PER ANNUM (once fully occupied from 1st May 2024)
NOTES -
We have been informed by the Vendor that all furniture (excluding any owned by the tenants) and kitchen appliances are included in the sale.
TENURE -
The property is for sale on a freehold basis, subject to the ASTs above.
COMPLETION -
Completion for this lot will be 8 weeks from exchange of contracts or sooner by mutual agreement.
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.
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.
