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Merchants Road Hotwells, Bristol *Guide Price £390,000+

  • Investment property arranged as 3 flats
  • Fully tenanted
  • Popular position ideal for student use
  • EPC's on order

***SOLD AT AUCTION FOR £430,000*** ***Guide Price: £390,000+*** (plus fees) This is a substantial mid-terrace Victorian property arranged over 4 floors situated in a prominent position overlooking the Bristol harbour lock gates. The property is arranged as a ground floor studio flat, ground and first floor maisonette offering 2/3 bedrooms, as well as a second and third floor 2 bedroom maisonette. It is currently let and will be producing circa £27,600 per annum once the pending increases have taken place. It should be noted that these are historic tenancies and there is significant margin to further increase to market levels. The property is now in need of updating and offers an opportunity to alter and enhance.


Merchants Road Hotwells
Bristol BS8 4QD
County: Bristol
Sale Type: Sold STC
Ref #: AH000320

Victorian mid-terrace investment property arranged as 3 flats overlooking the harbour lock gates.

Description

This is a substantial mid-terrace Victorian property arranged over 4 floors situated in a prominent position overlooking the Bristol harbour lock gates. The property is arranged as a ground floor studio flat, ground and first floor maisonette offering 2/3 bedrooms, as well as a second and third floor 2 bedroom maisonette. It is currently let and will be producing circa £27,600 per annum once the pending increases have taken place. It should be noted that these are historic tenancies and there is significant margin to further increase to market levels. The property is now in need of updating and offers an opportunity to alter and enhance.

Tenure

Freehold

Accommodation

Studio Flat

Situated at the front of the property with its own front door. 31 sqm. Expired EPC rating D. Currently let at £640 pcm increasing to £700 pcm on 5/1/2020.

Lower Maisonette

Occupying the rear half of the ground floor and the whole of the first floor. Includes lean to and garden. 69 sqm. Expired EPC rating D. Currently let at £630 pcm increasing to £700 pcm on 1/1/2020.

Upper Maisonette

Occupying the whole of the second floor and loft room. 79sqm. Expired EPC rating C. Currently let at £850 pcm increasing to £900 pcm on 1/1/2020.

Planning History

Planning Ref: 87/01686/F - Conversion of garage/shop and flat over to shop with living accommodation and self contained flat. Granted 9/10/1987 Planning Ref:01/02224/F - Change of use of ground floor from shop (Use Class A1) to self contained studio flat (Use Class C3) and external alterations consisting of installation of new shopfront. Granted 17/8/2001

Council Tax Bands

All three flats are registered as Band A

Possession

The properties are sold subject to the existing Assured Shorthold Tenancy agreements. Please refer to the legal pack for further details.

Vieiwng

By appointment with Auction House 0117 946 4949

For sale by Auction

On Wednesday 18th December at 7.00pm at Ashton Gate Stadium, Winterstoke Road, Bristol BS3 2LQ. Please note the auctioneers have made their best endeavours to disclose all additional fees. Interested parties should refer to the special conditions of sale contained in the Legal Pack for any late amendments or additions to these fees as well as the auction day addendum sheet prior to bidding.

Legal Pack

A full auction legal pack can be downloaded from www.auctionhousebristol.co.uk once available. For further information on the other lots in this auction please visit the website.

Additional Fees

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts. Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.


Merchants Road Hotwells
Bristol BS8 4QD
County: Bristol
Sale Type: Sold STC
Ref #: AH000320
Name Location Type Distance

Price Information

*Guides 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 a Reserve (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.

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