Merrywood Mills, 2C Merrywood Road, Southville, BS3 1DX
Hollis MorganHollis Morgan is a leading independent property auctioneer and estate agent based in Bristol. They specialise in residential and commercial sales, land, and development opportunities, holding regular property auctions with a strong track record of success across the South West.
Read more Read more*** SOLD @ NOVEMBER LIVE ONLINE AUCTION *** GUIDE PRICE £2.2M SOLD @ £2.325M ADDRESS | Merrywood Mills, 2C Merrywood Rd, Southville, Bristol BS3 1DX Lot Number 18 The Live Online Auction is on Wednesday 23rd November 2022 @ 17:30 Registration Deadline is on Monday 21st November 2022 @ 16:00 The Auction will be streamed LIVE ONLINE via the Hollis Morgan website & you can chose to bid by telephone, proxy or via your computer. Registration is a simple online process – please visit the Hollis Morgan auction website and click “REGISTER TO BID” VIEWINGS Viewings can be booked on specific days for this property – please submit a viewing request online and we will contact you to arrange access. Hollis Morgan would be grateful if you could arrive promptly to inspect the properties at the START of the agreed time as we have scheduled viewings throughout the day and CANNOT wait for late arrivals. There are likely to be viewings on the property before and after your appointment and if you miss your slot (usually 15 minutes or longer for larger properties) you will be asked to wait until the next available time. We insist safe social distancing is always practiced – you will need a facemask to enter the property. Please note that hard copy of details will not be provided but will have been emailed to you with instructions on how to bid and what happens next before the viewing. EXTENDED COMPLETION Completion is set for 8 weeks or earlier subject to mutual consent. ONLINE LEGAL PACKS Digital Copies of the Online legal pack can be downloaded Free of Charge. Please visit the Hollis Morgan Website and select the chosen lot from our Current Auction List. Follow the RED link to "Download Legal Packs" For the first visit you will be required to register simply with your email and a password. Having set up your account you can download legal packs or if they are not yet available, they will automatically be sent to you when we receive them. You will be automatically updated by email if any new information is added. There will be a note added to the list to confirm AUCTION PACK NOW COMPLETE when no further information is due to be added. *** STAY UPDATED *** By registering for the legal pack we can ensure you are kept updated on any changes to this Lot in the build up to the sale. EPC For full details of the EPC please refer to the online legal pack. A Freehold property ( 7961 Sq Ft ) comprising three floors of accommodation arranged as 12 self contained flats and 3 garages. The property was converted from offices approximately 10 years ago and provides stylish accommodating for professorial tenants in this highly sought after location. Sold subject to existing tenancies. FLAT 1 – 344 Sq Ft Open Plan Living Space | Bedroom | Bathroom FLAT 2 – 624 Sq Ft Open Plan Living Space | Bedroom | Bedroom | Bathroom FLAT 3 – 409 Sq Ft Open Plan Living Space | Bedroom | Bathroom FLAT 4 – 441 Sq Ft Open Plan Living Space | Bedroom | Bathroom FLAT 5 – 409 Sq Ft Open Plan Living Space | Bedroom | Bedroom | Bathroom FLAT 6 – 570 Sq Ft Open Plan Living Space | Bedroom | Bedroom | Bathroom FLAT 7 – 602 Sq Ft Open Plan Living Space | Bedroom | Bedroom | Bathroom FLAT 8 – 699 Sq Ft Open Plan Living Space | Bedroom | Bedroom | Bathroom FLAT 9 – 452 Sq Ft Open Plan Living Space | Bedroom | Bathroom FLAT 10 – 624 Sq Ft Open Plan Living Space | Bedroom | Bedroom | Bathroom FLAT 11 – 387 Sq Ft Open Plan Living Space | Bedroom | Bathroom FLAT 12 – 1087 Sq Ft Open Plan Living Space | Courtyard Garden | Bedroom 1 | Bedroom 2 | Bedroom 3 | Bathroom Bike & Bin Stores SINGLE GARAGES X 3 RESIDENTIAL INVESTMENT The property is fully let producing £125k per annum. The block has had virtually 100% occupancy rates since it was developed and some of the flats would now benefit from some basic updating. Subject to these updates locals agents have informed us the income could be increased to circa £160k per annum. BREAK UP Given the huge demand for residential accommodation in this location there is scope to break up the flats for individual resales. Flat 1 - £625 pcm Flat 2 - £800 pcm Flat 3 - £825 pcm Flat 4 - £825 pcm Flat 5 - £800 pcm Flat 6 - £1,000pcm Flat 7 - £850 pcm Flat 8 - £950 pcm Flat 9 - £850 pcm Flat 10 - £850 pcm Flat 11 - £775 pcm Flat 12 - £1,250 pcm TOTAL - £10.400 pcm / £124,800 pa The flats are let on AST contracts - further details available upon request. Garage 1 - VP Garage 2 - VP Garage 3 - VP We understand there is scope for £100 pcm per garage. Local lettings specialists The Bristol Residential Letting Co have provide the following estimated achievable rents subject to some basic updating. FLAT 1 - £875 - £925 pcm FLAT 2 - £1100 - £1200 pcm FLAT 3 - £900 - £950 pcm FLAT 4 - £900 - £950 pcm FLAT 5 - £1000 - £1100 pcm FLAT 6 - £1100 - £1200 pcm FLAT 7 - £1100 - £1200 pcm FLAT 8 - £1100 - £1200 pcm FLAT 9 - £900 - £950 pcm FLAT 10 - £1100 - £1200 pcm FLAT 11 - £950 - £1000 pcm FLAT 12 - £1400 - £1500 pcm TOTAL - £12,425 - £13,375 pcm TOTAL - £149,500 - £160,500 pa Kate Hunt Watkins Solicitors 192 North Street, Bedminster, BS3 1JF 0117 939 0350 [email protected]
