Block Of Flats - Updating / Investment, BS29

Hollis Morgan JUNE AUCTION - A PROMINENT CORNER property ( 3051 Sq Ft ) consisting of THREE FLATS - High yielding INVESTMENT or BREAK UP opportunity - VACANT POSSESSION

FOR SALE BY AUCTION

*** SOLD @ HOLLIS MORGAN JUNE AUCTION ***GUIDE ?125,000 +++SOLD @ ?126,000LOT NUMBER 14Wednesday 5th June 2019All Saints Church Pembroke Road, Clifton, Bristol BS8 2HYLegal packs will be available for inspection from 18:00. The sale will begin promptly at 19:00

EXTENDED COMPLETION

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

SOLICITORS

Charles FlemingHolley & SteerTregunter, 1 Berrow Road, Burnham-on-Sea, TA8 2ETDX47551 Burnham on Sea Charles Direct Dial 01278 765136 [email protected] 01278 788991

ONLINE LEGAL PACKS

Digital Copies of the Online legal pack can be downloaded Free of Charge. Please Click or Paste this link to access the June Auction Legal PacksPlease note the Red Button will not work after the auction date.https://auctioneertemplates.eigroup.co.uk/results.aspx?a=660&c=hom

THE PROPERTY

Butstone House is a commanding property ( 3051 Sq Ft ) occupying a prominent corner plot within the village and comprises 3 self contained residential units and a commercial shop.Sold with vacant possession.

LOCATION

The North Somerset village of Banwell is within easy driving distance of Bristol, Weston-super-Mare, Bath, Wells and the national motorway network, making it an ideal choice for the commuter. The village itself has local facilities including shops, pubs, restaurants, churches, primary school and pre-school, with more comprehensive shopping, social and recreational facilities at the above mentioned cities and the coastal town of Weston-super-Mare. Secondary schooling is at nearby Churchill with its associated sports complex and nearby dry-ski slope. The Mendip Hills are close by with an excellent range of country pursuits readily available, including riding, walking and caving, whilst the Chew and Yeo Valley s with the Chew and Blagdon lakes offering excellent sailing and fishing. The long distance traveller has plenty of choice - there are excellent motorway and rail links, whilst Bristol International Airport is just a short drive away. For further information see the Banwell website - www.banwell.info.

ACCOMMODATION

FLAT 1First Floor 2 Bedroom self contained FlatFLAT 2Ground Floor self-contained studio flat.FLAT 3First and Second floor self-contained two bedroom Maisonette.RETAIL UNITGround floor corner Retail unit.

THE OPPORTUNITY

INVESTMENTThe property is sold with vacant possession but was recently let for ?22,200 paPREVIOUS RENTS ( NOW VACANT ) FLAT 1 - ?600 pcmFLAT 2 - ?400 pcmFLAT 3 - ?600 pcmSHOP ?250 pcmTotal - ?1,850 pcm / ?22,200 paThe properties would now benefit from some basic updating and there is scope to increase the rents once completed.We are informed the property has had a new roof in the last 4 years.We are informed the majority of the units have had new heating systems over the last 5 years.RETAIL UNIT - PLANNING GRANTEDPlanning has been granted to combine the existing ground floor flat (unit 2) with the shop to create a two bedroom flat.Refer to online legal pack for planning info.

PLANNING GRANTED - RETAIL UNIT

Application Number 17/P/1266/FCategory Full PlanningPermission GRANTEDApplication No: 17/P/1266/FApplicant: Mr M BarbearySite: Ground Floor, 1 Church Street and 6 West Street, Banwell, BS29 6EADescription: Change of use of ground floor from retail to residential

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 be only submitted by completing the OFFER FORM which can be downloaded with the online legal pack - please email the COMPLETED form to [email protected]. 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.

PAYING THE DEPOSIT & BUYERS PREMIUM

We can only accept the following at the auction:Personal or Company ChequeBankers DraftDebit 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 2017 we have held 45 auctions, offering 1135 lots and raising over ?225m for clients across the regionDid you know .Hollis Morgan sold more ??? s of land and property by auction than all the other Bristol Auctioneers combined in 2017 with over ?49m 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 - www.otrbristol.org.ukVisit the Charity page of our Website for further details - https://www.hollismorgan.co.uk/charity/

PROPERTY DETAILS DISCLAIMER

Auction Property Details DisclaimerHollis Morgan endeavour to make our sales details clear, accurate and reliable 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, tenancies, boundaries, potential development, tenure etc is to be superseded by the information contained in the legal pack.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.