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9 bedroom terraced house for sale

MIXED USE / 9 BED HMO - DENMARK STREET

Under Offer £275,000

Property Description

Key features

  • FOR SALE BY PUBLIC AUCTION
  • WEDNESDAY 26TH SEPTEMBER
  • ALL SAINTS CHURCH, CLIFTON, BS8 2HY
  • WEEKLY SET VIEWINGS
  • DOWNLOAD ONLINE LEGAL PACKS
  • MIXED USE INVESTMENT ( 5875 Sq Ft )
  • GROUND FLOOR RESTAURANT
  • 9 BEDROOM HMO
  • HUGE POTENTIAL

Full description

Hollis Morgan SEPTEMBER AUCTION - A Freehold ( 5875 Sq Ft ) mixed use INVESTMENT comprising an A3 RESTAURANT and a 9 BED HMO in a CENTRAL LOCATION

For Sale By Auction - *** SOLD @ THE £10M SEPTEMBER AUCTION – NOW TAKING LOTS – 0117 973 6565 ***

GUIDE £275,000 +++
SOLD @ UNDISCLOSED AMOUNT

LOT NUMBER 45
Wednesday 26th September 2018
All Saints Church Pembroke Road, Clifton, Bristol BS8 2HY
Legal packs will be available for inspection from 18:00.
The sale will begin promptly at 19:00

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 – olly@hollismorgan.co.uk.
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.

Solicitors - Julian Chapman
Julian@devlaw.co.uk
Devereux & Co
T : (0117) 941 9056
F : (0117) 959 3355

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 Grade II Listed Freehold opportunity comprising 10 & 11 Denmark Street ( 5875 Sq FT ) comprising an established restaurant ( A3 ) trading on the ground floor / mezzanine and basement plus a self contained 9 bedroom HMO on the upper 3 floors.

Location - Denmark Street is located adjacent to the Bristol Hippodrome theatre within the heart of the City Centre. Local attractions such as the Harbourside, Bristol Royal Infirmary and Bristol University are all within close proximity. Park Street is just around the corner and offers an array of independent retailers, cafes, bars and restaurants.

The Opportunity - EXISTING INCOME

The property is current let to SA BRAIN on a 30 year lease from 27th October 1997 ( Refer to legal pack )
We understand SA BRAIN sublet the property to the existing tenants who occupy and run the whole building i.e. the restaurant and the HMO.
The property is arranged as 2 Freeholds ( 10 & 11 ) and subsequently two identical leases generating £9,500 each per annum ( £19,000 per annum )

SCOPE TO INCREASE INCOME

We understand the lease is subject to a 5 year rent review which has not been actioned since the start of the lease term in 1997 so there is potential to renegotiate the existing lease.
Subject to negotiating a surrender of the lease / Vacant Possession there is clearly scope to increase the income of both elements of the building - please refer to rental appraisals.

UPPER FLOORS - POTENTIAL

The upper floors would be suitable for conversion to self contained flats ( Subject to consents )

Rental Appraisal - An interesting longer-term investment. Potential buyers would need to seek advice around income for the commercial side of the property. However the location is ideal for students and would be popular with both Bristol University and University of West of England alike. Large properties like this are very popular with second year students. If the property (just residential) was updated for the next academic year we would suggest that the property be marketed at £545.00 per room which just from the residential side of things would generate £4905pcm or £58860 p/a.

A different investment proposition but one for the future.

If you have any questions or queries regarding this valuation please contact us on 0117 911 3423, 07854367689 or craig@clifton-rentals.co.uk

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.

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 Cheque
Bankers Draft
Debit 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 region
Did 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 charity based Off the Record! as our 2018 charity of the year with 5% of each buyers premium donated to help provide free and confidential mental health support and information to young people aged 11-25 in Bristol - www.otrbristol.org.uk In 2017 we were delighted to be involved in raising £30,000 over 3 events for the “Life for a cure” Bristol based meningitis charity - www.ryanbresnahan.org Visit the Charity page of our Website for further details - https://www.hollismorgan.co.uk/charity/


More information from this agent

Listing History

Added on Rightmove:
20 August 2018

Nearest stations

  • Bristol Temple Meads (0.8 mi)
  • Bedminster (0.9 mi)
  • Clifton Down (1.0 mi)
Distances are straight line measurements from centre of postcode

Nearest schools

Use the school checker

To view this property or request more details, contact:

Hollis Morgan, Auction Bristol & West Country

9 Waterloo Street, Clifton, Bristol, BS8 4BT

0117 407 2274 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Floorplans


To view this property or request more details, contact:

Hollis Morgan, Auction Bristol & West Country

9 Waterloo Street, Clifton, Bristol, BS8 4BT

0117 407 2274 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Bristol Temple Meads (0.8 mi)
  • Bedminster (0.9 mi)
  • Clifton Down (1.0 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Hollis Morgan, Auction Bristol & West Country

9 Waterloo Street, Clifton, Bristol, BS8 4BT

0117 407 2274 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 28127079. 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, Auction Bristol & West Country. 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 Hollis Morgan, Auction Bristol & West Country on 0117 973 6565.


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