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"Hollis Morgan FEBRUARY AUCTION A Freehold MIXED USE INVESTMENT PROPERTY 2813 Sq Ft comprising RETAIL UNIT and 4 x FLATS Scope to INCREASE INCOME to £67,200 pa

For Sale By Live Online Auction *** SOLD @ FEBUARY LIVE ONLINE AUCTION ***

GUIDE PRICE £495,000
SOLD @ £625,000

ADDRESS 12 North Street, Southville, Bristol BS3 1HT

Lot Number 22

The Live Online Auction is on Wednesday 12th February 2025 @ 17 30
Registration Deadline is on Monday 10th February 2025 @ 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

Pre Auction Offers On this occasion the vendors will NOT be considering pre auction offers.

The Property A Freehold mixed use corner property occupying a commanding position on the popular North Street with accommodation over three floors and arranged as ground floor retail unit with 4 self contained flats above.
Sold subject to existing tenancies.

SCHEDULE OF ACCOMMODATION

Flat 1 1 Bed First Floor 413 Sq Ft
Flat 2 1 Bed First Floor 341 Sq Ft
Flat 3 2 Bed Top Floor 517 Sq Ft
Flat 4 1 Bed Ground Floor 758 Sq Ft

Tenure Freehold
Council Tax A
EPC D
Utilities, Rights & Restrictions Please refer to the Legal Pack
Flood Risk Please refer to the Legal Pack

The Opportunity MIXED USE INVESTMENT SCOPE TO INCREASE INCOME

The property has been a successful investment for many years and is producing £39,840 pa Vacant flat
We understand there is scope to increase the income to £67,200 pa subject to basic updating where necessary.
Please refer to schedule below.

Schedule Of Income CURRENT INCOME £39,840 pa

Retail Unit £15,000 pa Lease term 10 years from 18 November 2019 expiring 18 November 2029
Flat 1, 12a North Street £720 pcm £8,640 pa Refer to online legal pack
Flat 2, 12a North Street £600 pcm £7,200 pa Refer to online legal pack
Flat 3, 12a North Street £750 pcm £9,000 Tenancy commencement 1 12 2018 now periodic
Flat 4, 12a North Street Vacant
Total £39,840 pa

POTENTIAL INCOME £67,200 pa

Retail Unit £15,000 per annum
Flat 1, 12a North Street £1200 pcm £14,400 pa
Flat 2, 12a North Street £950 pcm £11,400 pa
Flat 3, 12a North Street £950 pcm £11,400 pa
Flat 4, 12a North Street £1250 £15,000 pa
Potential Total £67,200 pa

Please contact Accommodation Unlimited for further details.

Location Located in one of Bristol s most sought after locations on 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.

Solicitors & Completion Nisha Hallam
VWV Solicitors




EXTENDED COMPLETION

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

Legal Pack Complete We have been informed by our client s solicitors that the legal pack for this lot is now complete.

Should any last minute addendums occur you will be automatically notified by email.

If the vendors have indicated they are willing to consider pre auction offers, now is the time to submit your offer by completing the pre auction offer form.

Important Auction Information VIEWINGS

Please submit a viewing request online and we will contact you to organise an appointment.
We will send you an email and text to confirm the appointment time and the full property address.
Viewings are supervised by a member of the Hollis Morgan Auction team who will meet you at the property.

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.
Press the GREEN button 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.

BUYER S PREMIUM

Please be aware all purchasers are subject to a £1,500 VAT £1,800 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 listing.
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 £1,800 Inclusive of 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 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 £6,800

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 & BRIDGING LOANS

Some properties may require specialist auction finance please contact Hollis Morgan for access to expert advice and whole of market rates from our independent brokers.

Hollis Morgan may receive introductory fees for this service from the broker.

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.

2025 CHARITY OF THE YEAR

Hollis Morgan is supporting Uncle Pauls Chilli Charity empowering socially disadvantaged people with barriers to learning & or disabilities based in Butcombe, North Somerset, our land overlooks the Mendip Hills and Blagdon lake. There are three main areas of focus at Uncle Paul s Chilli Charity Education, Wellbeing and Social Prescribing visit for more details or the Hollis Morgan Charity Page of our website.

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.

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