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Commercial Development for sale

Gloucester Road, Horfield, Bristol

Guide Price* £295,000

Property Description

Key features

  • For Sale By Public Auction
  • Tuesday 29th November 2016
  • County Cricket Ground, Bishopston BS7 9EJ
  • Legal Packs via our website

Full description

Mixed commercial investment arranged as a ground floor shop with 3 flats offering further development potential, subject to obtaining the necessary consents. The property is to be sold fully let producing approximately £31,020 per annum and is situated in a popular position on the junction of Gloucester Road and Ashley Down Road within close proximity of the 'Tinto Lounge'.

For Sale By Auction - This property is due to be auctioned on the 29th November 2016 at The Grace Room, The Bristol Pavilion, County Ground, Nevil Road, Bishopston, Bristol at 7pm.

Viewings - SOLD PRIOR

Description - Mixed-use investment comprising a ground floor shop with additional mezzanine storage, 3 flats and a further loft room offering potential for further development, subject to consents. We understand planning consent has been granted, although now lapsed, for a new dormer window to the loft room.

Each flat benefits from independent coin operated electric metres together with electric heating. There is a gas boiler supplying shared hot water for two of the flats. The communal areas benefit from emergency lighting, smoke detectors and UPVC double glazing throughout.

Location - Situated on the popular Gloucester Road within close proximity of 'The Royal Oak', 'Tinto Lounge' and the 'Co-operative Food'.

Lease Details - Shop - The shop is currently let to 'Citi Computers' . However, we understand Citi Computers are in the process of vacating and terms have been agreed with a new tenant. The new tenant plans to occupy the premises as a 'Tailors' and we are informed a 5 year term at £8,400p.a has been agreed on a Full Repairing and Insuring basis subject to a 3 year tenant break option and rent review.
Garden flat - Let on a recent Assured Shorthold Tenancy agreement at £695pcm
First floor rear flat - Let on an Assured Shorthold Tenancy agreement at £595pcm
First floor front flat - Let on an Assured Shorthold Tenancy agreement at £595pcm
Second floor/loft room - Vacant.

Planning -

Application Number - 12/3440/F.

Proposal - Rear roof extension.

Decision Date - 25th October 2012.

Energy Performance Certificate - Rating:
Ground Floor Shop: D.
Flat A: E.
Flat B: F.
Flat C: F.

Solicitor - Ms G Artess
Barcan + Kirby
111/117 Regent Street
Bristol BS15 8LJ
Tel: 0117 325 2929

Buyers Premium - Please be advised that all purchasers are subject to a £600 plus VAT (£720 inc VAT) buyers 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 Bidding - If you are unable to attend the auction then you can submit a proxy bid. This will authorise a representative of Maggs & Allen to bid on your behalf up to a pre-set amount. The proxy bidding form 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 2 cheques (one for the 10% deposit and one for the buyers premium of £720 inc VAT) is required by the auction department no later than 4pm on the day of the auction.

Attending The Auction - If you are intending to bid and are successful, the following will be required:
* 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.

Deposit & Buyers Premium Payments - Forms of acceptable payment:

* Cheque
* Bankers Draft
* Debit Card Payment

For card payments:
Please ensure that you advise your bank of the potential payment prior to the auction.

The Agent has not tested any apparatus, equipment, fixtures and fittings or services and so cannot verify that they are in working order or fit for the purpose. A Buyer is advised to obtain verification from their Solicitor or Surveyor. References to the Tenure of this property are based on information supplied by the Seller. The Agent has not had sight of the title documents. A Buyer is advised to obtain verification from their Solicitor.
These particaulrs including all measurements, plans, dimensions and photographs are provided for guidance purposes only and any intending purchaser or lessee should make their own enquiries.

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Disclaimer - Property reference 26394772. The information displayed about this property comprises a property advertisement. makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Maggs & Allen, Auction, Commercial & Investment. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.

Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”

Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Maggs & Allen, Auction, Commercial & Investment on 0117 9734940.

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