An fantastic development opportunity comprising a substantial mixed-use corner property in a popular residential location in St George, currently arranged as a ground floor shop and three self-contained flats. Full planning permission has been granted for the conversion of the property into an attractive scheme of 5 flats, comprising 4 x 2-bedroom flats and 1 x 1-bedroom flat with an additional refuse/cycle store.
FOR SALE BY AUCTION -
This property is due to feature in our online auction on 17 November 2022 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.
VIEWING -
By appointment
SUMMARY -
•SOLD PRIOR to November Auction
•SUBSTANTIAL MIXED- USE PROPERTY IN ST GEORGE
•PLANNING GRANTED FOR CONVERSION INTO 5 FLATS
•GDV OF 1.15M-1.2M ONCE COMPLETE
DESCRIPTION -
A substantial mixed-use corner property currently arranged to provide a double retail unit and three self-contained flats. Full planning permission has been granted to convert the property into 5 flats without outstanding pre-commencement conditions. The proposed development comprises 2 x 2-bedroom flats on the ground floor, 2 x 2-bedroom flats on the first floor and a 1-bedroom flat on the second floor. An ideal opportunity for builders, developers and investors.
We would anticipate a GDV of circa £1.15m - £1.2m once works are complete.
LOCATION -
The property is situated on the corner of Bell Hill Road and Kensington Road in the popular residential area of St George. Easy access is provided to a wide range of local amenities and excellent transport links are provided to the city centre.
ACCOMMODATION -
Please refer to floorplan for approximate room measurements and internal layout.
COMPLETION -
Completion for this lot will be 6 weeks from exchange of contracts or sooner by mutual agreement.
PROPOSED SCHEDULE OF ACCOMMODATION -
GROUND FLOOR
Apt 1: 1No. 70 sqm 2 bed / 3 Person apartment
Apt 2:1No. 65 sqm 2 bed / 3 Person apartment
FIRST FLOOR
Apt 3: 1No. 63 sqm 2 bed / 3 Person apartment
Apt 4: 1No. 65 sqm 2 bed / 3 Person apartment
SECOND FLOOR
Apt 5: 1No. 53 sqm 1 bed / 2 Person apartment
TOTAL
GIA: 316 sqm
5No. Apartments
PLANNING -
Planning Reference: 21/05034/F
Date of Decision: Fri 24 Dec 2021
Description of Development: Conversion and extension of ground and upper floors to provide 5 No. residential flats (Class C3), and erection of refuse/recycling and cycle store following demolition of existing outbuilding.
ENERGY PERFORMANCE CERTIFICATE -
Ratings:
81-83 Bell Hill Road - E
81a Bell Hill Road - E
83a Bell Hill Road - D
83b Bell Hill Road - F
BUYER'S PREMIUM -
Please be advised that all purchasers are subject to a £1,200 plus VAT (£1,440 inc VAT) buyer’s premium payable upon exchange of contracts.
*GUIDE PRICE -
Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to Reserve Price (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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.
PROXY, TELEPHONE & ONLINE REMOTE BIDDING -
The auction will be held online via live video stream with buyers able to bid via telephone, online or by submitting a proxy bid. You will need to complete our remote bidding form, which is available to download from our website. The completed form, ID (driving licence or passport and a recent utility bill stating the home address of the purchaser) and a bank transfer for the Preliminary Deposit must be received no later than 24 hours before the date of the auction.
PRELIMINARY DEPOSITS -
The Preliminary Deposit required for each lot you wish to bid for will be calculated based upon the Guide Price as follows:
£1,000 - £50,000: £2,000
£51,000 - £150,000: £5,000
£151,000 and above: £10,000
If your bid is successful, the balance of the deposit monies and Buyer's Premium (£1,440 inc VAT) must be transferred to our client account within 24 hours of the auction sale. If you are unsuccessful at the auction, your Preliminary Deposit will be returned to you.
