SUPERB RESIDENTIAL INVESTMENT PROPERTY
An immaculately presented first floor 6-bedroom apartment, situated in the heart of Westbury-on-Trym village. The property has been finished to a high standard and is ready to be let to students or professionals. We anticipate a potential rental income of circa £700 pcm per room (£50,400 per annum) making the property a superb and high yielding investment. A short level walk onto the High Street offers a wide range of shops, bars and restaurants. A superb opportunity for landlords and investors.
FOR SALE BY AUCTION -
This property is due to feature in our online auction on 21 November 2024 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.
VIEWINGS -
By appointment.
SUMMARY -
MODERN SIX-BEDROOM RENTAL INVESTMENT
DESCRIPTION -
An immaculately presented first floor 6-bedroom apartment, situated in the heart of Westbury-on-Trym village. The property has been finished to a high standard and is ready to be let to students or professionals. We anticipate a potential rental income of circa £700 pcm per room (£50,400 per annum) making the property a superb and high yielding investment. A short level walk onto the High Street offers a wide range of shops, bars and restaurants. A superb opportunity for landlords and investors.
LOCATION -
The property is situated on the corner of Henbury Road and Passage Road in the heart of Westbury on Trym, a level walk to the High Street with its variety of shops, restaurants, bars and supermarkets. Westbury on Trym is amongst the most sought after locations in Bristol and provides easy access to the open green spaces of Durdham Downs and Canford Park. For the commuter, there are excellent transport links to the motorway networks (M5, M4, M32) and the centre of Bristol.
ACCOMMODATION -
Please refer to floorplan for approximate room measurements and internal layout.
FIRST FLOOR FLAT -
The property is accessed via an external staircase to the rear of the building and comprises a modern kitchen/diner, living room, six bedrooms and two shower rooms.
RENTAL POTENTIAL -
We would anticipate a market rent in the region of £700 pcm per room on an inclusive basis. Once fully let, this would equate to a gross annual income of circa £50,400.
TENURE -
The property is for sale on the basis of a new 999 year lease.
COMPLETION -
Completion for this lot will be 8 weeks from exchange of contracts or sooner by mutual agreement.
HMO LICENSING & PLANNING -
An HMO licence for 6 occupants was granted on 29/07/2024.
HMO licensing regulations and planning requirements are subject to regular changes, updates and even individual interpretations by the Local Authority. Prospective buyers are therefore required to make their own enquiries with the Local Authority and review the documents contained in the auction legal pack fully to satisfy themselves that the property is compliant in this respect. Maggs & Allen accept no liability in the event that any Licensing or Planning requirements/documents are not in order at the point of sale.
ENERGY PERFORMANCE CERTIFICATE (EPC) -
Rating: C
LETTING - WHAT CAN MAGGS & ALLEN ACHIEVE FOR YOU? -
Maggs & Allen's experienced letting team are happy to discuss the rental of this property and can advise on maximising the investment. We offer Full Management, Let Only and Rent Collection Services. Contact Jessica Archer and her team on 0117 9499000 or email lettings@maggsandallen.co.uk.
AUCTION OR BRIDGING FINANCE REQUIRED? -
Do you need a mortgage or loan quickly? Maggs & Allen have specialist Independent Brokers who can arrange residential and commercial finance on all types of property. Contact the Auction Team today to be put through to our mortgage and loan experts on 0117 9734940 or email admin@maggsandallen.co.uk
BUYER'S PREMIUM -
Please be advised that all purchasers are subject to a £1,500 plus VAT (£1,800 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 - £150,000: £5,000
£151,000 and above: £10,000
If you bid is successful, the balance of the deposit monies and Buyer’s Premium (£1,800 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 within 5 working days.
RENTAL ESTIMATES -
All rental estimates are provided in good faith. They should be verified by your own professional advisors prior to a commitment to purchase.
