BLOCK OF 7 X 1-BEDROOM FLATS
A substantial period building arranged as seven, self-contained 1-bedroom flats with a large garden to the rear. The property is in need of renovation throughout and offers a superb investment or break-up opportunity with a potential rental income of circa £62,000 per annum and break-up values totalling circa £850,000. Situated in the heart of the village of Paulton, easy access is provided to close to local shops and amenities. A fantastic renovation project that will appeal to builders and developers.
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 -
SOLD FOR £300,000 - FREEHOLD BLOCK OF 7 X 1-BEDROOM FLATS FOR RENOVATION
DESCRIPTION -
A substantial period building arranged as seven, self-contained 1-bedroom flats with a large garden to the rear. The property is in need of renovation throughout and offers a superb investment or break-up opportunity with a potential rental income of circa £62,000 per annum and break-up values totalling circa £850,000. Situated in the heart of the village of Paulton, easy access is provided to close to local shops and amenities. Offered for sale with vacant possession, this fantastic renovation project will appeal to builders and developers.
LOCATION -
The property is situated in the popular village of Paulton, just 13 miles south of Bristol and approximately 9 miles southwest of Bath. A wide range of amenities are available locally and the open spaces of Paulton Memorial Park are within easy reach.
SCHEDULE OF ACCOMMODATION -
The property is arranged to provide seven self contained 1-bedroom flats as follows:
THE OLD COTTAGE SHOP -
FLAT 1: Ground floor one-bedroom flat (approx. 37 m²)
FLAT 2: Ground floor one-bedroom flat (approx. 57 m²)
FLAT 3: First & second floor one-bedroom maisonette (approx. 46 m²)
FLAT 4: First floor one-bedroom flat (approx. 46 m²)
THE OLD PET SHOP -
FLAT 1A: First & second floor one-bedroom maisonette (approx. 43 m²)
FLAT 1B: Ground floor one-bedroom flat (approx. 30 m²)
FLAT 1B: Ground floor one-bedroom flat (approx. 27 m²)
TENURE -
The property is for sale on a freehold basis 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) RATINGS -
The Old Pet Shop:
1a - G / 1b - E / 1c - D
The Old Cottage Shop:
Flats 1 & 2 - D / Flat 3 - G / Flat 4 - C
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.
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.
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.
