Property description
***For sale by auction on April 14th*** ***Guide Price: £525,000 - £575,000***This is a substantial end of terrace mixed use property. The ground floor offers a shop, basement show room and a large single storey rear extension. Up stairs is a first and second floor maisonette offering 6 bedrooms, 2 bathrooms, lounge and separate kitchen and comes as a fully let house of multiple occupancy.
Situation
The property is situated in a prominent position in the heart of Westbury Park on the corner of Coldharbour Road and Harcourt Road falling just outside of the controlled parking zone. The property is in a popular location for both the professional and student letting markets.
Description
The property is a substantial Victorian end of terrace building arranged over 3 floors and a basement with a large single storey rear extension. The ground floor and basement comprises a large commercial unit. The Upper floors are used as a fully licensed 6 bedroom House of Multiple Occupancy. The accommodation offers 5 double bedrooms let at £280 PCM and 1 single at £210 PCM. These rents are significantly below market value and should be more in the region of £350 PCM per room. The property is in need of modernisation and once works are completed the rents should increase to in excess of £400 PCM.There is considerable scope for further development. The maisonette could split into 2 flats and it may be possible to extend out over the large flat roof single storey extension, all subject to planning. The ground floor also offers potential for residential conversion either in part or in whole based on recent planning permissions granted on Coldharbour Road and Kellaway Avenue.
Accommodation
Ground floor and basement commercial unit: 131 sqm (approx.)First & Second Floor MaisonetteApproached via side access from the driveway. The first floor comprises of a, kitchen, living room, shower room, 1 double bedroom and 1 single bedroom. The second floor offers 4 double bedrooms and a bathroom.
Outside
To the side of the property is a private driveway which provides access to a rear yard and large garage/storeroom. There is potential for development to the side and rear of the property although it should be noted that there is a vehicular right of way in favour of number 2 Harcourt Road.
Council Tax and Business Rates
The rateable value is £7,800 and may qualify for small business rate relief.The maisonette is Council Tax band D
EPC
Flat: D Shop: G
Planning
Based on recent planning applications in the vicinity there may be scope for residential redevelopment of the ground floor either in part or in whole. It should be noted that the property is situated on the boarder of a protected commercial zone according to the Bristol City Council Site Allocations and Development Management Policies policy map so interested parties should seek independent advice on this matter.
Possession
The ground floor commercial unit and garage are sold with vacant possession. The first & Second floor maisonette are sold subject to the existing 6 assured shorthold tenancies.
Tenure
The property is sold on a freehold basis with the benefit of a separate 999 year lease on the maisonette and garage, which is included in the sale.
For Sale by Auction
On Thursday 14th April 2016 at 7pmAt Bristol Pavilion, Gloucestershire County Cricket Ground, Nevil Road, Bristol BS7 9EJ
Legal Pack
A full auction legal pack can be downloaded from www.auctionhousebristol.co.uk once available. For further information on the other other lots in this auction please visit the website.
Viewings
By appointment with Auction House Tel: 0117 946 4949
Property Features :
- Substantial end of terrace mixed use property
- Large ground floor and basement shop unit
- 6 Bedroom maisonette
- Let as licensed student HMO
- Potential for residential development of ground floor rear