Skip to content
This property has been removed by the agent.
For more information please contact the agent directly using the details provided.
View similar properties
Get brand editions for Hollis Morgan Auctions Bristol & West Country, Bristol

Student Investment - £177K Pa

PROPERTY TYPE

House

BEDROOMS

24

BATHROOMS

10

SIZE

Ask agent

TENURE
Describes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.

Ask agent

Key features

  • FOR SALE BY PUBLIC AUCTION
  • WEDNESDAY 25TH SEPTEMBER 2019
  • ALL SAINTS CHURCH, CLIFTON, BS8 2HY
  • WEEKLY SET VIEWINGS
  • DOWNLOAD ONLINE LEGAL PACKS
  • STUDENT INVESTMENT
  • ESTABILISHED INCOME
  • £177,216 PER ANNUM
  • 24 ROOMS / 5 LEASEHOLD UNITS
  • EXTENDED 8 WEEK COMPLETION

Description

Hollis Morgan SEPTEMBER AUCTION - A prime ESTABLISHED STUDENT INVESTMENT OPPORTUNITY in the CITY CENTRE producing an annual INCOME £177k with 24 rooms over 5 units.

For Sale By Auction - *** STILL AVAILABLE - PLEASE CONTACT AUCTION HQ FOR FURTHER DETAILS - ***

LOT NUMBER 7
Wednesday 25th September 2019
All Saints Church Pembroke Road, Clifton, Bristol BS8 2HY
Legal Pack Room and Registration will be open from 18:15
The sale will begin promptly at 19:00

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

Viewing - Viewing by appointment with Hollis Morgan -

Solicitors - Jason Richardson
Davies & Partners
t:
e: Jason.

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 - Fitzhardinge house is a 'hands off', low maintenance student investment property arranged as 9 self contained residential leasehold units.
The lot comprises 5 units ( Flats 3,4,6,8 & 9) fully let producing £177,216 per annum ( fully let until September 2020 ) and includes the car park area to the front of the building.
The remaining four units are under the ownership of a single UK based investor; all flats and the freehold are managed by Purple Frog Bristol.
Sold subject to existing tenancies.

Location - 'Fitzhardinge House' is located on Tailors Court which is situated in heart of the City Centre. Local attractions such as the Harbourside, Bristol Royal Infirmary, Bristol Temple Meads 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 property is also within easy walking distance of UoB, BIMM as well as excellent bus links to UWE.

Directions - Where High St meets Wine Street turn left onto Broad St. Once on Broad St walk passed the Mecure Hotel on your right and about 50 yards after there is a right hand turn under a sort of archway which is called Tailor’s Court (if you turn right on John St you have gone too far). Walk down there and you will be in the right place.

The Opportunity - HIGH YIELDING INVESTMENT

The property is fully let and sold subject to the existing tenancies producing an annual income of £177,266.
24 individual rooms let at £142pw on a 52 week contract
The rent includes all bills.
Refer to legal pack for further details.

Historic Rental Increases - 2017-2018
Total Income - £159,844 pa

2018-2019
Total Income - £171,363 pa
Rental Increase of 7.21% on previous year

2019-2020
Total Income - £177,216 pa
Increase of 3.42% on previous year

Operating Costs - The budget net rent position is 25% Operating Costs, i.e. 75% net income from the gross rent figure. This is broken down roughly as follows;

8% Management Agency Fees
8% Utilities
5% Maintenance
4% Certification/Cleaning/Misc

Energy use is monitored by Purple Frog and there is a fair usage policy in place for energy to ensure costs are as capped as they can be.

Accommodation Schedule - FLAT 3
First Floor - Open plan living space, 5 Bedrooms, WC and Shower-room

FLAT 4
Second Floor - Open plan living space, 5 Bedrooms, WC and Shower-room

FLAT 6
Third Floor - Open plan living space, 5 Bedrooms, WC and Shower-room

FLAT 8
Fourth Floor - Open plan living space, 5 Bedrooms, WC and Shower-room

FLAT 9
Fourth Floor - Open plan living space, 4 Bedrooms, WC and Shower-room

Example Of Accommodation - OPEN PLAN LIVING AREA
-Integrated washing machine, hob, oven, fridge freezer and extractor fan
-Laminated work tops with tiled splash backs
-50-inch SMART TV
-Window

HALLWAY
-LED Sensor lighting throughout

BATHROOM
-Vinyl flooring
-Single shower
-Hand basin & W.C

WC:
- Hand basin
-Vinyl flooring

BEDROOMS
-Window
-Space for free standing furniture
-Desk space

Tenure And Management - Tenure - 125 year leases
Ground rent £500 per flat per year
Freehold and all flats in the building managed by Purple Frog Bristol, communal costs (electric/water/cleaning) are shared based on bed ownership (24/22) between the two leasehold owners.
Management 8% including VAT
MANAGED BY PURPLE FROG BRISTOL
For further rental information please contact:
Alex Parsons
Purple Frog Bristol


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.

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.

Pre Auction Offers - Some properties may be available to buy prior to the auction.
Pre auction offers can only be submitted by completing the OFFER FORM which can be downloaded with the online legal pack - please email the COMPLETED form to – .
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.

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

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.

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

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.

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.

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.

You will need to register to bid – registration will be open from 18:15
Forms can be downloaded and completed beforehand ( found in the legal pack ) or collected at the auction venue.

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 )

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 2018 we have held 51 auctions, offering 1321 lots and raising over £269m 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 2018 with over £44m 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 -
Visit the Charity page of our Website for further details -

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

BrochureSTUDENT INVESTMENT - £177K PA

Energy performance certificate - not provided

Council TaxA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council tax in our glossary page.

Ask agent

Student Investment - £177K Pa

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Bristol Temple Meads Station0.7 miles
  • Montpelier Station0.9 miles
  • Redland Station0.9 miles
Check how much you can borrow
Get a Mortgage in Principle
You'll have a personalised result in just 20 minutes and you could get viewings faster when you find the home you want, with no impact on your credit score.
Recently sold & under offer
See similar nearby properties
Get brand editions for Hollis Morgan Auctions Bristol & West Country, Bristol

About the agent

Hollis Morgan Auctions Bristol & West Country, Bristol

9 Waterloo Street, Clifton, Bristol, BS8 4BT

Hollis Morgan Auctions Bristol & West Country, Bristol
The Regions most successful Auctioneers since 2010
WHY HOLLIS MORGAN?

Auction Means Action | Instant Exchange | 10% Non Refundable Deposit | Fixed Completion

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

The Hollis Morgan team, with over 150 years combine

More properties from this agent

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 29019386. 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 & West Country, 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 & West Country, Bristol on 0117 463 0219.

*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 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 Decision Technologies Limited.

**This is indicative only and based on a 2-person household with multiple devices and simultaneous usage. Broadband performance is affected by multiple factors including number of occupants and devices, simultaneous usage, router range etc. For more information speak to your broadband provider.

Map data ©OpenStreetMap contributors.

Your search history

You have no recent searches.