END TERRACE 3-STOREY PROPERTY OFFERING POTENTIAL FOR RESIDENTIAL REDEVELOPMENT.
An end of terrace former cafe and community centre providing approximately 1,685 ft² (156.6m²) over 3 storeys. The property benefits from a large rear garden/plot and offers potential for residential redevelopment. The property is situated in a popular location on St Mark's Road Easton and is available for sale by auction on the 17th October 2024.
FOR SALE BY AUCTION -
This property is due to feature in our online auction on 17 October 2024 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.
VIEWINGS -
By appointment.
SUMMARY -
SOLD FOR £328,000 - END TERRACE 3-STOREY PROPERTY OFFERING POTENTIAL FOR RESIDENTIAL REDEVELOPMENT.
DESCRIPTION -
A substantial three-storey end of terrace former cafe/community centre (approx. 1,685 ft²) occupying a corner plot with a large garden/plot to the rear. The site offers potential for residential redevelopment to create a range of residential apartments, subject to obtaining the necessary planning consents. A superb opportunity for builders and developers.
LOCATION -
The property is situated on the corner of St Marks Road and Brenner Road in the heart of Easton. A wide range of local amenities are available on St Marks Road and easy access is provided to the city centre.
ACCOMMODATION -
The property is arranged on the ground floor as a large cafe with commercial kitchen and toilets to the rear. The first and second floor provide ancillary storage. To the rear of the property is an enclosed garden (fronting Brenner Street) which offers potential for further development (subject to obtaining the necessary consents). The site measures approximately 200m².
POTENTIAL REDEVELOPMENT -
We consider there to be potential to convert the existing building to two 2-bedroom flats (a garden flat with a maisonette above), and potential to erect further flats to the rear, subject to obtaining the necessary consents.
TENURE -
We are informed the site will be offered for sale on a freehold basis and with vacant possession.
COMPLETION -
Completion for this lot will be 8 weeks from exchange of contracts or sooner by mutual agreement.
ENERGY PERFORMANCE CERTIFICATE (EPC) -
Rating: D
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.
