CASH BUYERS ONLY
A generously sized two-bedroom maisonette in a prime location in Warmley, offering excellent access to local amenities. Currently tenanted and generating £850 per month, the property has potential for increased rental income of approximately £1,100 per month with some cosmetic upgrades. Features include a private entrance, double glazing, and a lock-up garage in a nearby block. An ideal opportunity for a rental investment or refurbishment project.
FOR SALE BY AUCTION -
This property is due to feature in our online auction on 22 May 2025 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.
VIEWINGS -
By appointment.
SUMMARY -
SPACIOUS 2-BEDROOM MAISONETTE - IDEAL BUY TO LET INVESTMENT
DESCRIPTION -
A spacious two-bedroom maisonette, situated in a convenient location in Warmley with excellent access to local amenities. The property is currently let producing £850 pcm and there is scope to increase the rental income to circa £1,100 pcm following cosmetic improvements. The property benefits from its own private entrance, double glazing and a lock-up garage in a nearby block. A superb rental investment or refurbishment project.
LOCATION -
Malvern Drive is a peaceful residential street situated in the sought-after area of Warmley. The location is ideal for access to a range of local amenities, including shops, cafes, and schools, as well as easy access to nearby green spaces like Warmley Forest Park. The area is well-connected, with bus routes and major road links such as the A4174 ring road and M4 motorway close by, ensuring quick commutes to Bristol city centre and Bath.
ACCOMMODATION -
The property is approached via its own private entrance on the ground floor with stairs leading to the first floor accommodation which comprises an open-plan kitchen/diner and living room. The top floor provides two double bedrooms, a bathroom and separate WC.
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.
RENTAL DETAILS -
The property is currently let on an AST producing £850 pcm, which is below the market level. Following cosmetic improvemenets, we would anticipate a market rent in the region of £1,100 pcm (£13,200 per annum).
TENURE -
The property is to be sold on a leasehold basis with approximately 48 years remaining. A full copy of the lease will be available in the online legal pack.
GROUND RENT -
We understand there is a ground rent payable of £85.
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.
