MODERN RESIDENTIAL INVESTMENT - 12 APARTMENTS
A modern development of 12 apartments in two adjoining blocks, which present a superb investment or break-up opportunity.
The development comprises 6 x 2-bedroom apartments and 6 x 1-bedroom apartments arranged over three storeys. Offered for sale with vacant possession, the property offers a potential rental income in the region of £162,000 per annum and break-up values totalling circa £2,250,000.
Situated in a central location in Bristol, easy access is provided to a wide range of local amenities on Church Road, the city centre and motorway network.
FOR SALE BY AUCTION -
This property is due to feature in our online auction on 18 September at 6.00pm. Bidding is via proxy, telephone or online remote bidding.
VIEWINGS -
By appointment.
SUMMARY -
FREEHOLD BLOCK OF 12 MODERN APARTMENTS - IDEAL INVESTMENT / BREAK-UP OPPORTUNITY
DESCRIPTION -
An exciting opportunity to acquire a modern development of 12 apartments set across two adjoining blocks. The development comprises 6 x 2-bedroom apartments and 6 x 1-bedroom apartments arranged over three storey - all offered for sale with vacant possession.
With a projected rental income of £162,000 per annum and estimated break-up values of approximately £2.25 million, this is a rare chance to secure a high-performing asset in a prime and central Bristol location.
Ideally positioned just off Church Road, the property benefits from easy access to the city centre, a wide range of local shops, cafés, and amenities, as well as excellent links to the motorway network.
LOCATION -
The property is situated on Lincoln Street on the borders of Lawrence Hill and Redfield in Bristol. A wide range of local amenities are available on the nearby Church Road and excellent transport links are provided to the city centre.
SCHEDULE OF ACCOMMODATION -
GROUND FLOOR: 2 x 1-Bedroom Flats & 2 x 2-Bedroom Flats
FIRST FLOOR: 2 x 1-Bedroom Flats & 2 x 2-Bedroom Flats
SECOND FLOOR: 2 x 1-Bedroom Flats & 2 x 2-Bedroom Flats
RENTAL ESTIMATES & BREAK UP VALUES -
POTENTIAL RENTAL INCOME:
We would anticipate an annual rental income of £162,000 per annum once fully occupied (£1,000 pcm for the 1-bedroom flats and £1,250 pcm for the 2-bedroom flats).
BREAK-UP VALUES:
We would anticipate break-up values totalling £2.25 million (£175,000 for the 1-bedroom flats and £200,000 for the 2-bedroom flats).
All estimates are provided in good faith. They should be verified by your own professional advisors prior to a commitment to purchase.
FLOOR PLAN -
The site plan is provided for illustrative purposes only and should be used as such by any prospective purchaser. The internal arrangement of the flats may vary slightly and interested parties should carry out a physical inspection of the property.
TENURE -
The property is for sale on a freehold basis with vacant possession.
COMPLETION -
Completion for this lot will be 8 weeks from exchange of contracts or sooner by mutual agreement.
ENERGY PERFORMANCE CERTIFICATE (EPC) RATINGS -
Flats 1, 2, 3, 5, 7, 9, 10, 11, and 12 - C
Flats 4 and 6 - B
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 £1,800 plus VAT (£2,160 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 is £5,000.
If you bid is successful, the balance of the deposit monies and Buyer’s Premium (£1,800 plus 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 within 5 working days.
