SOLD POST-AUCTION - SUBSTANTIAL FORMER PUBLIC HOUSE FOR REDEVELOPMENT
A substantial former public house of approximately 7,100 ft² arranged over basement, ground, first and second floors, with an additional car park to the rear. Planning consent is currently pending for the conversion of the first and second floors into 2 x 5-Bedroom HMOs and the rear of the site offers significant potential for further redevelopment, subject to consents. The building is situated in a busy trading position on East Street (backing on to Herbert Road) in Bedminster, in an area currently undergoing significant redevelopment. Easy access is provided to Bristol city centre and a wide range of local amenities.
FOR SALE BY AUCTION -
This property is due to feature in our online auction on 27 June 2024 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.
VIEWINGS -
By appointment.
SUMMARY -
SOLD - A SUBSTANTIAL FOUR STOREY FORMER PUBLIC HOUSE - PLANNING CONSENT GRANTED FOR 2 X 5-BEDROOM HMOS ON UPPER FLOORS
DESCRIPTION -
A substantial former public house of approximately 7,100 ft² arranged over basement, ground, first and second floors, with an additional car park to the rear. Planning consent has been granted for the conversion of the first and second floors into 2 x 5-Bedroom HMOs and the rear of the site offers significant potential for further redevelopment, subject to consents. The building is situated in a busy trading position on East Street (backing on to Herbert Road) in Bedminster, in an area currently undergoing significant redevelopment. Easy access is provided to Bristol city centre and a wide range of local amenities.
LOCATION -
The property is situated in a busy and prominent position on East Street, Bedminster.
PLANNING -
Planning consent has been granted for the creation of 2 x 5-Bedroom HMOs (C4) at first and second floor level under Application No. 23/00686/F. The ground floor commercial premises has been marketed to let for 12 months and a marketing report is available should it assist with an application for a change of use/redevelopment.
ACCOMMODATION -
Please refer to floorplan for approximate room measurements and internal layout.
BASEMENT LEVEL -
Arranged as various store rooms, accessible from the ground floor and also the rear of the property.
GROUND FLOOR -
The ground floor is currently arranged as a former public house of approximately 3,925 ft², equipped with a large kitchen, bar, seating area and dance floor.
FIRST FLOOR -
Currently providing customer toilets and staff offices.
SECOND FLOOR -
Currently providing a manager's flat comprising 3 double bedrooms, a lounge (currently used as a 4th bedroom), kitchen and bathroom.
EXTERNAL SPACE -
To the rear there is a courtyard and car park which also offers potential for redevelopment, subject to obtaining the necessary consents. However, we understand 2 parking spaces are owner by a neighbour and are therefore not included in the sale.
TENURE -
We are informed that the property is to be offered for sale on a freehold basis with vacant possession. Please refer to the legal pack for confirmation.
COMPLETION -
Completion for this lot will be 8 weeks from exchange of contracts or sooner by mutual agreement.
ENERGY PERFORMANCE CERTIFICATE -
Rating: E (Valid to November 2023).
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.
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 - £150,000: £5,000
£151,000 and above: £10,000
If you 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 houra of the auction sale. If you are unsuccessful at the auction, your Preliminary Deposit will be returned to you within 5 working days.
