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4 X FLATS - £19,680 pa

Guide Price
£140,000
Added on 22/04/2021
Hollis Morgan Auctions, Bristol
PROPERTY TYPE
House
BEDROOMS
x4
BATHROOMS
x4

Key features

  • FOR SALE BY ONLINE AUCTION
  • WEDNESDAY 19TH MAY 2021
  • VIDEO TOUR NOW ONLINE
  • VIEWINGS REFER TO DETAILS
  • DOWNLOAD ONLINE LEGAL PACKS
  • *** MAY LIVE ONLINE AUCTION ***
  • 4 SELF CONTAINED FLATS
  • RESIDENTIAL INVESTMENT
  • FULLY LET - £19,680 PA
  • STAMP DUTY DEADLINE AVAILABLE

Property description

Hollis Morgan – MAY LIVE ONLINE AUCTION - A leasehold RESIDENTIAL INVESTMENT comprising 4 X FLATS producing a GROSS INCOME of £19,680 pcm in the centre of Bridgwater

Covid Update – Lockdown 3.0 - Following Government advice ( 05.01.21 ) the housing market will remain open during the new lockdown in England.
Hollis Morgan are open for viewings and valuations whilst adhering to the latest social distancing and PPE rules.
Please contact the auction team for any questions.

Address - Flats 5,6,7 & 8 - 6 Church Passage, Bridgwater, TA6 3ED

For Sale By Live Online Auction - Lot Number 24
The Live Online Auction is on Wednesday 19th May @ 18:00
Registration Deadline is on Monday 17th May @ 16:00

The Auction will be streamed LIVE ONLINE via the Hollis Morgan website & you can chose to bid by telephone, proxy or via your computer.
Registration is a simple online process – please visit the Hollis Morgan auction website and click “REGISTER TO BID”

Completion – Beat The Stamp Duty Deadline - Completion is set for 8 weeks or earlier subject to mutual consent.
Beat the Stamp Duty Deadline and complete before June 30th

Viewings - Viewings can be booked on specific days for this property – please submit a viewing request online and we will contact you to arrange access.

Hollis Morgan would be grateful if you could arrive promptly to inspect the properties at the START of the agreed time as we have scheduled viewings throughout the day and CANNOT wait for late arrivals.
There are likely to be viewings on the property before and after your appointment and if you miss your slot ( usually 15 minutes or longer for larger properties ) you will be asked to wait until the next available time.
Please note government regulation on groups sizes and safe social distancing must be practiced at all times – please bring your own gloves and facemask.
You may be asked to wait outside before it is safe to enter – please understand and respect this request.
If you have shown any symptoms of Covid (19 ) in the last 10 days we would respectfully ask you to not attend the viewing.
The safety of our clients and staff is our number one priority and we thank you for your understanding.
Please note that hard copy of details will not be provided but will have been emailed to you with instructions on how to bid and what happens next before the viewing.

Solicitors - Emily Gardiner
Alletsons Solicitors
8 Castle Street, Bridgwater, Somerset, TA6 3DB

emily.

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 leasehold opportunity to acquire the first floor ( 1111 Sq Ft ) of this imposing mixed use property arranged as four self contained flats ( Flats 5,6,7 & 8 )

MANAGEMENT FEES
The service charge for the period of 1 January 2021 - 31 December 2021
Total £4171.66
This equates to £347.64 per month for 12 months.

GROUND RENT
£400 per total
Paid in full 2021.

Location - The property is situated in the recent of the market town centre of Bridgwater, with local amenities close to hand including Bridgwater Railway Station. The town centre offers an extensive range of services including retail, leisure and educational facilities. Access to the M5 motorway can be found via junctions 23 and 24. There are regular bus services to Taunton, Weston-super-Mare and Burnham-on-Sea plus a daily coach to London Hammersmith.

The Opportunity - RESIDENTIAL INVESTMENT - £19,680 pa

The flats are let on rolling AST contracts producing a total gross income of £19,680 pa
Please refer to online legal pack for copies of AST

Income Schedule - Flat 5 - £420 pcm
Flat 6 - £420 pcm
Flat 7 - £400 pcm
Flat 8 - £400 pcm

TOTAL - £1640 pcm / £19,680 pa

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 vendors are willing to consider offers prior to the auction.
Pre auction offers can be ONLY be submitted by completing the online PRE AUCTION OFFER FORM
The form can be found on the Hollis Morgan website on the individual auction property listings – look for the big red button .
Please note offers will not be considered until you have inspected the COMPLETE LEGAL PACK once it has been released.
There will be a note added to the list to confirm AUCTION PACK NOW COMPLETE when our clients solicitor informs us no further information is due to be added.
In the event of an offer being accepted the property will only be removed from the online auction and viewings stopped once contracts have successfully EXCHANGED subject to the standard auction terms and payment of the buyer’s premium ( £1000 + VAT ) to Hollis Morgan.
Contracts can be exchanged via the solicitors or at the Hollis Morgan offices by appointment only.

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.

Auction Finance - Some properties may require specialist auction finance- please contact Hollis Morgan for access to expert advice and "whole of market" rates.

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.

2021 Charity Of The Year - Hollis Morgan are supporting Bristol Charity 1625 Independent People as our 2021 Charity of the year with a % of each Buyers premium being donated.
1625 Independent People (1625ip) is a charity that works with young people who are homeless, leaving care or at risk of homelessness in Bristol and the South West.
Visit the Hollis Morgan Charity page of our Website for further details -

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

Why Hollis Morgan? - Hollis Morgan hold the largest land & property auctions in the region.

Hollis Morgan sold more £££’s of Land & Property in both 2018 & 2019 than any other auctioneer in the region.
In fact, no auctioneer has sold more than Hollis Morgan since 2010 with over £289m of sales - £95m more than anyone else.
*Source EIG – Sales in BS and GL postcodes by agents based in BS or GL postcodes.

Hollis Morgan was the most successful Auctioneer in Bristol & North Somerset during 2018 – 2019 with an 87 % success rate.
*Source EIG – Sales in BS postcodes 2018 & 2019 by agents based in BS

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.

Brochures

Brochure4 X FLATS - £19,680 pa

4 X FLATS - £19,680 pa

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Bridgwater Station0.6 miles
Mortgages
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About the agent

Hollis Morgan Auctions, Bristol

9 Waterloo Street, Clifton, Bristol, BS8 4BT

Hollis Morgan Auctions, Bristol
The Regions most successful Auctioneers since 2010
Why Hollis Morgan?

We are confident our results speak for themselves.... Keep reading if you want to know more!

In 2020 Hollis Morgan SOLD more lots by auction in Bristol, North Somerset & Gloucester than any other auctioneer!

In 2020 Hollis Morgan SOLD more £££'s of BS postcode lots than all the other local auctioneers combined!

Since 2010 we have offered more lots in our catalogue

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Disclaimer - Property reference 30587616. The information displayed about this property comprises a property advertisement. Rightmove.co.uk 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 Hollis Morgan Auctions, Bristol. 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.

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 Bristol on 0117 407 2274.

*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.”

* Average speeds are based on the download speeds of at least 50% of customers at peak time (8pm to 10pm) from packages available on comparethemarket.com. Speed can be affected by a range of technical and environmental factors. The speed you receive where you live may be lower than that listed above. You can check the estimated speed to your property prior to purchasing. Fibre/cable services at your postcode are subject to availability. You can confirm availability on the provider's website. Providers may increase charges. You should have the right to exit your contract without penalty if this happens. The information is provided and maintained by Decision Technologies Limited.

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