Mixed Use Investment / Development Opportunity, BS3

Hollis Morgan FEBRUARY AUCTION - A Freehold terraced INVESTMENT / DEVELOPMENT OPPORTUNITY ( 2160 Sq Ft ) on a popular High St Location producing ?16k pa until 2020 with VACANT UPPER FLOORS.

FOR SALE BY AUCTION

*** SOLD @ HOLLIS MORGAN FEBRUARY AUCTION ***GUIDE ?165,000 +++SOLD @ ?213,000LOT NUMBER 33Wednesday 21st February 2018 All Saints Church Pembroke Road, Clifton, Bristol BS8 2HY Legal packs will be available for inspection from 18:00. The sale will begin promptly at 19:00

PRE AUCTION OFFERS

On this occasion the vendor will NOT be seeking pre auction offers.

EXTENDED COMPLETION

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

SOLICITORS

Costas KroustisNicholas Solicitors (0)20 7323 [email protected]

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. *** 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 Freehold mid terraced period property ( 2160 Sq Ft ) arranged as a ground floor retail unit occupied by the Card Factory and two vacant upper floors.

LOCATION

East street is a popular pedestrianised High Street with a wide range of retailers and traders serving the local area yet within one mile of the city Centre. The unit is located between Wilkinsons and Betfred.

THE OPPORTUNITY

INVESTMENTThe ground floor retail unit is subject to an existing tenancy agreement until 31/12/2020 producing ?16,000 per annum ( commenced 2015 )Please refer to legal pack for copy of the lease.UPPER FLOORS - DEVELOPMENT OPPORTUNITYThe vacant upper floors may offer some development opportunities subject to gaining the necessary consents.

ACCOMMODATION

Shop width 18 6Shop depth 73 6Sales Area 1,300 sq ftITZA 669.75Stores 05 sq ft

RENTAL APPRAISAL

The local lettings experts say:The Bristol Residential Letting Co. are confident this property would make a good rental investment. Josh Box of The Bristol Residential Letting Co suggests a rent in the region of:2 x 1 Bedroom Apartments ?625 - ?675pcm per unit3 Bedroom Maisonette - ?1000 - ?1100pcmIf you would like to discuss more detail on the potential for rental, you can call Don (0117 370 8818) for a no obligation discussion. He will be very happy to advise on maximising the return on this property.

EPC

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

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.

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.

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.

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.

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 charity based Off the Record! as our 2018 charity of the year with 5% of each buyers premium donated to help provide free and confidential mental health support and information to young people aged 11-25 in Bristol - www.otrbristol.org.uk In 2016 we were delighted to be involved in raising ?30,000 over 3 events for the Life for a cure Bristol based meningitis charity - www.ryanbresnahan.org Visit the Charity page of our Website for further details - https://www.hollismorgan.co.uk/charity/