This first-floor one-bedroom flat offers an excellent investment opportunity, with great potential to add value through modernisation. The property benefits from an allocated parking space and is conveniently situated close to local amenities and transport links. Once refurbished, we anticipate an annual rental income of approximately £12,000, providing a strong rental yield of 13.3% based on the guide price. With around 44 years remaining on the lease, this property is available to cash buyers only. Whether for rental income or future resale, this is a fantastic opportunity for investors.
FOR SALE BY AUCTION -
This property is due to feature in our online auction on 24 April 2025 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.
VIEWINGS -
By appointment.
SUMMARY -
SOLD FOR £98,000 - ONE-BEDROOM FIRST FLOOR FLAT - IDEAL INVESTEMENT OPPORTUNITY
DESCRIPTION -
This first-floor one-bedroom flat presents an excellent opportunity for investors. The property is in need of some modernisation, offering great potential to add value. It benefits from an allocated parking space and is conveniently located close to local amenities and transport links. We would anticipate an annual income in the region of £12,000 (once modernised) offing a rental yield at guide price of 13.3%. With approximately 44 years remaining on the lease, this property is only available to cash buyers. A superb investment opportunity with great rental potential and scope to refurbish and sell on if the lease is extended.
LOCATION -
Speedwell is a residential area in the eastern part of Bristol, the area benefits from good local amenities, including schools, shops, and parks, with Eastville Park and St George Park both within easy reach. Public transport links are strong, with regular bus services connecting Speedwell to Bristol city centre and surrounding areas, while the nearby A4174 Ring Road provides easy access to the M32 and M4 motorways. Speedwell is becoming an increasingly popular choice for those looking for affordability and good rental returns in Bristol.
ACCOMMODATION -
Frist floor flat comprises, double bedroom, kitchen, open sitting room/ dinning room, bathroom and entrance hallway.
Please refer to floorplan for approximate room measurements and internal layout.
TENURE -
Leasehold – We understand that there are approximately 44 years remaining on the lease. Please refer to the legal pack for confirmation.
COMPLETION -
Completion for this lot will be 8 weeks from exchange of contracts or sooner by mutual agreement.
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.
