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Property Listing Details

Property details

  • 5 bedrooms
  • 2 bathrooms
  • 1 reception room

Features

  • For sale by public auction
  • Wednesday 25th September
  • All saints church, clifton, BS8 2HY
  • Weekly set viewings
  • Download online legal packs
  • Leasehold flat
  • City student unit
  • 5 bedrooms £24,900 pa
  • Scope to increase rents to £30K pa
  • Extended 8 week completion

Listing view statistics

Last 30 days: 234 page views

Since listed: 234 page views

Description

Hollis Morgan September auction - A leasehold 5 bed student investment ( 880 Sq Ft ) in the city centre fully let with scope for £30k per annum income.

For Sale By Auction

Lot number tbc
Wednesday 25th September 2019
All Saints Church Pembroke Road, Clifton, Bristol BS8 2HY
Legal Pack Room and Registration will be open from 18:15
The sale will begin promptly at 19:00

Extended Completion

Completion is set for 8 weeks or earlier subject to mutual consent.

Weekly Set Viewing

*** we are still awaiting keys for flat 1 ***

please note flat 3 is available to view on Thursday 22nd August at 13:30 pm

viewing times to be released shortly - please register for online legal pack to be kept updated.

The property is open for 30 minutes but please leave a minimum of 15 minutes to inspect the property.
Hollis Morgan would be grateful if you could arrive promptly to inspect the properties at the start of the specified times as we have scheduled viewings throughout the day and cannot wait for late arrivals. You do not need to book an appointment as it is a set viewing – simply arrive at the stated time and a member of the Hollis Morgan Auction team will take your details and show you the property.
Please note there are no viewings on Bank Holidays or on the day of the auction.
*** viewings subject to change - please check website on the day to confirm ***

Solicitors

Tbc

Online Legal Packs

Digital Copies of the Online legal pack can be downloaded Free of Charge.
Please visit the Hollis Morgan Website and select the chosen lot from our Current Auction List.
Follow the red link to "Download Legal Packs" For the first visit you will be required to register simply with your email and a password.
Having set up your account you can download legal packs or if they are not yet available they will automatically be sent to you when we receive them.
You will be automatically updated by email if any new information is added.
There will be a note added to the list to confirm auction pack now complete when no further information is due to be added.
*** stay updated *** By registering for the legal pack we can ensure you are kept updated on any changes to this Lot in the build up to the sale.

The Property

A large leasehold flat ( 880 Sq Ft ) on the third floor of this purpose built mixed use property with a functional accommodation unit providing 5 bedrooms, open plan kitchen living space, WC and bathroom.
The property is arranged as 4 similar units and a bar / restaurant on the ground floor.
Length of lease / management company to follow.

Accommodation Schedule

Kitchen / diner
Bathroom
WC

Bedroom 1
Bedroom 2
Bedroom 3
Bedroom 4
Bedroom 5

Electric heating

Location

The flat benefits from an excellent City Centre location on the busy Baldwin Street. A whole host of local amenities and services are in the immediate vicinity including affluent bars, gourmet restaurants, gastro pubs and independent cafes. Bristol Temple Meads is a short ten minute walk away.

The Opportunity

Student investment

The property is currently let to a group of 5 student tenants producing £24,500 per annum until July 2020.
£415 per room pcm
Increase rents


The unit would now benefit from some basic updating and there is scope to create two bathrooms.
Upon completion we understand there is scope to achieve £30,000 per annum
£500 per room pcm

Rental Appraisal

Expert student landlords digs say;

A good sized 5 bedroom student flat in Baldwin Street. Currently achieving £24,900k pa. The property is in average condition and require an upgrade to realise their full potential, but always let for a full 12 months each year. There are 4 flats in the building above a commercial premises and they are situated in a very favourable position right at the end of Baldwin Street by Bristol Bridge with the kitchen/lounge areas overlooking the Glass Boat Bistro and the waterway.

There is strong potential for a significant uplift in rent if a complete refurbishment was carried out in both flats. If this was done to a good standard then there is no reason why the income could be increased to a figure in excess of £30k pa. Estimated rough costing for total refurb per flat £20k -£25k to achieve in the region of a 7% return.

Digs

Epc

For full details of the EPC please refer to the online legal pack.

Buyer's Premium

Please be aware all purchasers are subject to a £1000 + VAT (£1,200 inc VAT) buyer's premium which is always payable upon exchange of contracts whether the sale is concluded before, during or after the auction date.

Guide Price

An indication of the seller's current minimum acceptable price at auction. The guide price or range of guide prices is given to assist consumers in deciding whether or not to pursue a purchase. It is usual, but not always the case, that a provisional reserve range is agreed between the seller and the auctioneer at the start of marketing. As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the auction in the light of interest shown during the marketing period, a guide price is issued. This guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall, or as a single price figure within 10% of which the minimum acceptable price (reserve) would fall. A guide price is different to a reserve price (see separate definition). Both the guide price and the reserve price can be subject to change up to and including the day of the auction.

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.

Pre Auction Offers

Some properties may be available to buy prior to the auction.
Pre auction offers can only be submitted by completing the offer form which can be downloaded with the online legal pack - please email the completed form to – .
Please note offers will not be considered until you have viewed the property and the complete legal pack has been released.
You will be emailed a note to confirm the auction pack now complete and then offers can be submitted.
In the event of an offer being accepted the property will only be removed from the auction and viewings stopped once contracts have successfully exchanged subject to the standard auction terms and payment of the buyer’s premium ( £1,200 ) to Hollis Morgan. Contracts can be signed either via the solicitors or at the Hollis Morgan offices subject to appointment.

Surveys And Valuations

If you would like to arrange a survey or mortgage valuation of this Lot before the auction please instruct your appointed surveyor to contact Hollis Morgan and we will arrange access for them to inspect the property. Please note that buyers cannot attend the surveys and the surveyors are responsible for collecting and returning keys to the Hollis Morgan offices in Clifton.

Bidding At The Auction

This property is for sale by public auction and if you intend to bid please bring the following:

Proof of identity (valid passport or photo driving licence).
Proof of address (bank statement, recent utility bill, council tax bill or tenancy agreement).
10% deposit payment.
Buyers premium payment.
Details of your solicitor.

You will need to register to bid – registration will be open from 18:15
Forms can be downloaded and completed beforehand ( found in the legal pack ) or collected at the auction venue.

Paying The Deposit & Buyers Premium

We can only accept the following at the auction:

Personal or Company Cheque
Bankers Draft
Debit Card ( not credit card )

Telephone And Proxy Bidding

If you cannot attend the auction (although we strongly advise you do) you can make a telephone or proxy bid. This authorises the auctioneer to bid on your behalf up to a pre-set limit. Forms and relevant conditions are available to download with the online legal pack. A completed form, id and two cheques (one for the 10% deposit and one for the Buyer's Administration Fee of £1,200) are required by the Auction Department at least two full working days before the auction.

Auction Buyers Guide Video

We have short video guides for both buying and selling by Public Auction on the Hollis Morgan Website. If you have any further questions regarding the process please don’t hesitate to contact Auction HQ.

Why Hollis Morgan?

Hollis Morgan regularly hold the largest property auctions across Bristol and the West Country from our iconic Sale Room in Clifton, since we formed in 2010 we have sold the most £££'s of land and property by Public Auction in the region - every year!
Between 2010 and 2018 we have held 51 auctions, offering 1321 lots and raising over £269m for clients across the region.
Did you know….Hollis Morgan sold more £££’s of land and property by auction than all the other Bristol Auctioneers combined in 2018 with over £44m of successful sales!

Testimonials

We are very proud of what our past clients have say about us - please visit the Hollis Morgan website to read their testimonials.

Charity Of The Year

Hollis Morgan are supporting Bristol Zoo’s Bear Wood Appeal as our 2019 charity of the year with 5% of each buyers premium being donated.
Bear Wood is an exciting new development due to open in Summer 2019 at Wild Place Project. The exhibit will transport visitors back in time when the woodland was inhabited by European brown bears, Eurasian lynx, European wolves and wolverine, showing the effects of woodland loss on our native animals.
In 2018 we were delighted to be involved in raising £10,000 over 3 events for the “Off The Record” Bristol based mental health charity -
Visit the Charity page of our Website for further details -

Auction Property Details Disclaimer

Hollis Morgan endeavour to make our sales details clear, accurate and reliable in line with the Consumer Protection from Unfair Trading Regulations 2008 but they should not be relied on as statements or representations of fact and they do not constitute any part of an offer or contract. All Hollis Morgan references to planning, tenants, boundaries, potential development, tenure etc is to be superseded by the information contained in the legal pack. It should not be assumed that this property has all the necessary Planning, Building Regulation or other consents. Any services, appliances and heating system(s) listed have not been checked or tested. Please note that in some instances the photographs may have been taken using a wide angle lens. The seller does not make any representation or give any warranty in relation to the property and we have no authority to do so on behalf of the seller.

You could get

Fast broadband Fast broadband

Up to 24.4 Mbps (Source: Ofcom)

Floorplan

Map & Nearby

Local Amenities

  • Welsh Back Ferry Landing 0.1 miles
  • Bristol Bridge Ferry Landing 0.1 miles
  • St Michael's on the Mount Church of England Primary School 0.4 miles
  • Cathedral Primary School 0.4 miles

Local map of the area

Map and Street View Map showing location of property

Local Amenities

  • Welsh Back Ferry Landing 0.1 miles
  • Bristol Bridge Ferry Landing 0.1 miles
  • St Michael's on the Mount Church of England Primary School 0.4 miles
  • Cathedral Primary School 0.4 miles

Market stats

Sale activity

Average estimated value for a flat in BS1:

  • £303,443
  • Price decrease

  • -£19,357
  • (-5.997%)
  • Over the last 12 months

In the last 12 months

  • Average sale price

    £276,505
  • Properties sold

    152

Rental opportunities

Not known

Recent sales nearby

See all recent sales in BS1
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Estimated running costs

Based on available 3rd party data

Mortgage calculator

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The Agent

Price history

Sold prices provided by Land Registry
14th Aug 2019 £295,000 First listed
1st Oct 2004 £233,000 Last sold

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Property descriptions and related information displayed on this page are marketing materials provided by Hollis Morgan - Auction. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Hollis Morgan - Auction for full details and further information.