Skip to content
Get brand editions for Hollis Morgan Auctions, Bristol
UNDER OFFER

Freehold Block Of Flats - Southville

Guide Price
£2,200,000
Added on 04/05/2022
Hollis Morgan Auctions, Bristol
PROPERTY TYPE

Detached

BEDROOMS

×20

BATHROOMS

×15

Key features

  • FOR SALE BY ONLINE AUCTION
  • WEDNESDAY 22ND JUNE 2022
  • VIDEO TOUR NOW ONLINE
  • VIEWINGS - REFER TO DETAILS
  • DOWNLOAD ONLINE LEGAL PACKS
  • SOLD PRIOR TO AUCTION
  • FREEHOLD BLOCK
  • 12 SELF CONTAINED UNITS
  • CURRENT INCOME £125K PA
  • EXTENDED 8 WEEK COMPLETION

Property description

Tenure: Freehold

Hollis Morgan JUNE AUCTION - A Freehold BLOCK OF 12 FLATS ( 7961 Sq Ft ) and 3 GARAGES fully let producing £125k pa with scope to increase to £160k pa located on NORTH STREET, SOUTHVILLE.

For Sale By Live Online Auction - ADDRESS | Merrywood Mills, 2C Merrywood Rd, Southville, Bristol BS3 1DX

*** SOLD PRIOR TO AUCTION ***

Lot Number 9
The Live Online Auction is on Wednesday 22nd June 2022 @ 17:30
Registration Deadline is on Monday 20th June @ 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”

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.
We insist safe social distancing is always practiced – you will need a facemask to enter the property.
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.

EXTENDED COMPLETION

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

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.

EPC

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

Solicitors - Kate Hunt
Watkins Solicitors
192 North Street, Bedminster, BS3 1JF



The Property - A Freehold property ( 7961 Sq Ft ) comprising three floors of accommodation arranged as 12 self contained flats and 3 garages.
The property was converted from offices approximately 10 years ago and provides stylish accommodating for professorial tenants in this highly sought after location.
Sold subject to existing tenancies.

Schedule Of Accommodation - FLAT 1 – 344 Sq Ft
Open Plan Living Space | Bedroom | Bathroom

FLAT 2 – 624 Sq Ft
Open Plan Living Space | Bedroom | Bedroom | Bathroom

FLAT 3 – 409 Sq Ft
Open Plan Living Space | Bedroom | Bathroom

FLAT 4 – 441 Sq Ft
Open Plan Living Space | Bedroom | Bathroom

FLAT 5 – 409 Sq Ft
Open Plan Living Space | Bedroom | Bedroom | Bathroom

FLAT 6 – 570 Sq Ft
Open Plan Living Space | Bedroom | Bedroom | Bathroom

FLAT 7 – 602 Sq Ft
Open Plan Living Space | Bedroom | Bedroom | Bathroom

FLAT 8 – 699 Sq Ft
Open Plan Living Space | Bedroom | Bedroom | Bathroom

FLAT 9 – 452 Sq Ft
Open Plan Living Space | Bedroom | Bathroom

FLAT 10 – 624 Sq Ft
Open Plan Living Space | Bedroom | Bedroom | Bathroom

FLAT 11 – 387 Sq Ft
Open Plan Living Space | Bedroom | Bathroom

FLAT 12 – 1087 Sq Ft
Open Plan Living Space | Courtyard Garden | Bedroom 1 | Bedroom 2 | Bedroom 3 | Bathroom

Bike & Bin Stores

SINGLE GARAGES X 3

Location - Located in one of Bristol’s most sought after locations just yards from the iconic North Street yet tucked back from the action that is quite literally on your doorstep, There is a vast array of open green spaces nearby including Gores Marsh Park, Ashton Court Estate and Greville Smyth Park. This property has easy access to Bristol City Centre, Bristol International Airport and the Bristol Link Road. These are excellent transportation links making this one of the most convenient and valued locations in Bristol. This Southville location offers the flourishing independent shops, bars, cafes and restaurants of North Street including the popular Tobacco Factory, The Malago and a community centre that runs workshops, fitness classes and outreach events. These amenities are ideally located only a 2 minute walk away at the end of the road. This excellent home is in close proximity to Whapping Wharf and Bristol Temple Meads train station. Many well-respected schools are nearby including the very popular Southville Primary School.

The Opportunity - RESIDENTIAL INVESTMENT

The property is fully let producing £125k per annum.
The block has had virtually 100% occupancy rates since it was developed and some of the flats would now benefit from some basic updating.
Subject to these updates locals agents have informed us the income could be increased to circa £160k per annum.

BREAK UP

Given the huge demand for residential accommodation in this location there is scope to break up the flats for individual resales.

Current Income - Flat 1 - £625 pcm
Flat 2 - £800 pcm
Flat 3 - £825 pcm
Flat 4 - £825 pcm
Flat 5 - £800 pcm
Flat 6 - £1,000pcm
Flat 7 - £850 pcm
Flat 8 - £950 pcm
Flat 9 - £850 pcm
Flat 10 - £850 pcm
Flat 11 - £775 pcm
Flat 12 - £1,250 pcm

TOTAL - £10.400 pcm / £124,800 pa

The flats are let on AST contracts - further details available upon request.

Garage 1 - VP
Garage 2 - VP
Garage 3 - VP

We understand there is scope for £100 pcm per garage.

Potential Income - Local lettings specialists The Bristol Residential Letting Co have provide the following estimated achievable rents subject to some basic updating.

FLAT 1 - £875 - £925 pcm
FLAT 2 - £1100 - £1200 pcm
FLAT 3 - £900 - £950 pcm
FLAT 4 - £900 - £950 pcm
FLAT 5 - £1000 - £1100 pcm
FLAT 6 - £1100 - £1200 pcm
FLAT 7 - £1100 - £1200 pcm
FLAT 8 - £1100 - £1200 pcm
FLAT 9 - £900 - £950 pcm
FLAT 10 - £1100 - £1200 pcm
FLAT 11 - £950 - £1000 pcm
FLAT 12 - £1400 - £1500 pcm

TOTAL - £12,425 - £13,375 pcm
TOTAL - £149,500 - £160,500 pa

Standard Auction Information - 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 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 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 client’s 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.

REGISTRATION PROCESS

The registration process is extremely simple – visit the Hollis Morgan auction website and click on the “Register to Bid” button.
The “Register to Bid” button can be found on the auction home page or on the individual lot listings.
Please note this function is not available on Rightmove or Zoopla.

Stage 1 – Complete the Online Bidding Form
Stage 2 – Upload your certified ID
Stage 3 – Invitation to bid
Stage 4 – Pay your security deposit (£6,200)

You are now ready to bid – Good luck!

If your bid is successful, the balance of the deposit monies must be transferred to our client account within 24 hours of the auction sale.
If you are unsuccessful at the auction your holding deposit will be returned within 48 hours.

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 BUYER’S 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.

2022 CHARITY OF THE YEAR

Hollis Morgan is supporting Bristol Charity Gympanzees as our 2022 Charity of the year with a % of each Buyers premium being donated.
Gympanzees are a charity based in Bristol helping children and young people with disabilities to access fun, fitness, and friendship.
Visit the Hollis Morgan Charity page of our website for further details or the charity direct @

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

Want to sell a property by Live Online Auction?

In 2020 we sold 150 lots by this updated method - we have embraced this change and move forward with our 2021 live online calendar of sales confident we can provide the best service for our clients.

Did you know...In 2020 Hollis Morgan SOLD more lots by auction in Bristol, North Somerset & Gloucester than any other auctioneer!
Did you know...In 2020 Hollis Morgan SOLD more £££’s of BS postcode lots than all the other local auctioneers combined!
Did you know...Since 2010 we have offered more lots in our catalogue (2151) than any other local firm.
*Source EIG Group 2021

Hollis Morgan holds the largest monthly land & property auctions in the region – book your free, no obligation valuation today!

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

FREEHOLD BLOCK OF FLATS - SOUTHVILLE Brochure

Energy Performance Certificates

Freehold Block Of Flats - Southville

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Bedminster Station0.4 miles
  • Parson Street Station0.7 miles
  • Bristol Temple Meads Station1.0 miles
Mortgages
Check your mortgage affordability with Nationwide
Nationwide pays Rightmove a fee for each completed mortgage. It's up to you if you choose Nationwide, or a different lender, to suit your mortgage needs and circumstances.
Market information
See similar nearby properties
Get brand editions for Hollis Morgan Auctions, Bristol

About the agent

Hollis Morgan Auctions, Bristol

9 Waterloo Street, Clifton, Bristol, BS8 4BT

The Regions most successful Auctioneers since 2010
Why Hollis Morgan?

The Hollis Morgan philosophy is based on combining a traditional high street agency approach with modern technology allowing us to build lasting relationships by listening to our clients and understanding their situation.

Our experienced team pride themselves, not only, on achieving the best results but in having the satisfaction of a job well done - this pragmatic approach has enabl

More properties from this agent

Stamp Duty calculator

£

Notes

These notes are private, only you can see them.

Staying secure when looking for property

Ensure you're up to date with our latest advice on how to avoid fraud or scams when looking for property online.

Visit our security centre to find out more

Disclaimer - Property reference 31467451. 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 Hollis Morgan Auctions, 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.”

* This is the average speed from the provider with the fastest broadband package available on comparethemarket.com at this postcode. The average speed displayed is based on the download speeds of at least 50% of customers at peak time (8pm to 10pm). Fibre/cable services at the postcode are subject to availability and may differ between properties within a postcode. Speeds can be affected by a range of technical and environmental factors. The speed at the property may be lower than that listed above. You can check the estimated speed and confirm availability to a property prior to purchasing on the broadband provider's website. Providers may increase charges. The information is provided and maintained by Stickee Technology Limited.

Map data ©OpenStreetMap contributors.

Your search history

You have no recent searches.