* Leasehold
* For sale by online auction
* Wednesday 26th July 2023
* Video tour now online
* Viewings - refer to details
* Legal pack complete
* Sold @ July online auction
* Leasehold flat ( 990 years )
* 2 bed | ground floor
* Requires updating
* Extended 8 week completion
Hollis Morgan – July live online auction – A Leasehold 2 bed ground floor flat
( 560 Sq Ft ) in need of basic updating with new 990 year lease.
**For Sale By Live Online Auction**
*** sold @ July online auction ***
guide price £160, 000 +++
sold prior @ £175, 000
address | Flat 2, 7, Fountain Buildings, Walcot, Bath, BA1 5DU
Lot Number 50
The Live Online Auction is on Wednesday 26th July 2023 @ 17: 30
Registration Deadline is on Monday 24th July 2023 @ 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.
**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.
**The Property**
Occupying the ground of this charming Grade II listed period terrace in the
heart of the City.
The property ( 560 Sq Ft ) comprises two bedrooms, reception room, separate
kitchen and bathroom with communal yard to the rear.
Sold with vacant possession.
Leasehold - New 990 Year Lease
Groundrent - Peppercorn
Management Fees - £165. 41 pcm
**Legal Pack Complete**
We have been informed by our client’s solicitors that the legal pack for this
lot is now complete.
Should any last minute addendums occur you will be automatically notified by
email.
If the vendors have indicated they are willing to consider pre - auction offers,
now is the time to submit your offer by completing the pre - auction offer form.
**Location**
Fountain Buildings is situated in the very heart of Bath with The Circus,
Brock Street and The Royal Crescent a stroll away. A walk down to Milsom
Street and the city centre, offering an array of cultural and leisure
facilities with some of the finest shops and restaurants to be found outside
London. Bath Spa train station allows access to London Paddington and the M4
(Junction 18) is approximately 10 miles distant. There is an excellent range
of schools in both the public and state sector. Bath is one of only three UK
World Heritage Cities and this property is ideally placed to walk into Bath
and enjoy all it offers including The Theatre Royal and Bath Festivals Trust,
providing an eclectic programme of events over the year.
**The Opportunity**
Flat for basic updating
The property has been let for many years and would now benefit from some basic
updating but would make a fine home in this highly sought after location.
**Investment
**
Once renovated the property has excellent rental prospects for both short and
long terms tenants.
**Rental Appraisal**
After reviewing historic market research and comparable properties we consider
Flat 2, 7 Fountain Buildings an ideal rental investment opportunity and would
be delighted to work with any Investor looking to purchase it. The apartment
is situated within the Fountain Buildings a striking period property centrally
located in the City of Bath. There is an abundance of amenities on the
doorstep and within walking distance to a variety of shops, restaurants, pubs
and galleries. The property must be fully complaint with current legislation
and offered to the rental market at the required standard and in good
condition. We would advise marketing it for rent in the region of £1400pcm.
I would be happy to discuss this investment opportunity and valuation on a
complimentary basis and with no obligation on your part and can be contacted
on or .
**Solicitors**
Daisy Girvin
Capsticks
e :
**Important Auction Information**
Buyer’s premium
Please be aware all purchasers are subject to a £1000 + VAT (£1, 200 inc VAT)
buyer's premium which is always payable upon exchange of contracts whether the
sale is concluded before, during or after the auction date.
**Guide price
**
An indication of the seller's current minimum acceptable price at auction. The
guide price or range of guide prices is given to assist consumers in deciding
whether to pursue a purchase. It is usual, but not always the case, that a
provisional reserve range is agreed between the seller and the auctioneer at
the start of marketing. As the reserve is not fixed at this stage and can be
adjusted by the seller at any time up to the day of the auction in the light
of interest shown during the marketing period, a guide price is issued. This
guide price can be shown in the form of a minimum and maximum price range
within which an acceptable sale price (reserve) would fall, or as a single
price figure within 10% of which the minimum acceptable price (reserve) would
fall. A guide price is different to a reserve price (see separate definition).
Both the guide price and the reserve price can be subject to change up to and
including the day of the auction.
**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.
**Pre auction offers
**
Some vendors are willing to consider offers prior to the auction.
Pre auction offers can only be submitted by completing the online pre auction
offer form
The form can be found on the Hollis Morgan website on the individual auction
property listings – look for the big red button.
Please note offers will not be considered until you have inspected the
complete legal pack once it has been released.
There will be a note added to the list to confirm auction pack now complete
when our client’s solicitor informs us no further information is due to be
added.
In the event of an offer being accepted the property will only be removed from
the online auction and viewings stopped once contracts have successfully
exchanged subject to the standard auction terms and payment of the buyer’s
premium (£1000 + VAT) to Hollis Morgan.
Contracts can be exchanged via the solicitors or at the Hollis Morgan offices
by appointment only.
**Registration process
**
The registration process is extremely simple – visit the Hollis Morgan auction
website and click on the “Register to Bid” button.
The “Register to Bid” button can be found on the auction home page or on the
individual lot listings.
Please note this function is not available on Rightmove or Zoopla.
Stage 1 – Complete the Online Bidding Form
Stage 2 – Upload your certified id
Stage 3 – Invitation to bid
Stage 4 – Pay your security deposit (£6, 200)
You are now ready to bid – Good luck!
If your bid is successful, the balance of the deposit monies must be
transferred to our client account within 24 hours of the auction sale.
If you are unsuccessful at the auction your holding deposit will be returned
within 48 hours.
**Surveys and valuations
**
If you would like to arrange a survey or mortgage valuation of this Lot before
the auction, please instruct your appointed surveyor to contact Hollis Morgan
and we will arrange access for them to inspect the property. Please note that
buyers cannot attend the surveys and the surveyors are responsible for
collecting and returning keys to the Hollis Morgan offices in Clifton.
**Auction finance & bridging loans
**
Some properties may require specialist auction finance - please contact Hollis
Morgan for access to expert advice and whole of market rates from our
independent brokers.
Hollis Morgan may receive introductory fees for this service from the broker.
Auction buyer’s guide video
We have short video guides for both buying and selling by Public Auction on
the Hollis Morgan Website. If you have any further questions regarding the
process, please don’t hesitate to contact Auction HQ.
2023 charity of the year
Hollis Morgan is supporting Spear Bristol as our 2023 Charity of the year with
a % of each Buyers premium being donated.
Spear Bristol works with 16 - 24 year olds who struggle to find and then stay
in employment and further education.
During intensive 6 week programmes our young people are taught a range
employment getting skills and arguably more importantly, our coaches look to
address the underlying reasons our young people struggle and seek to equip
them with coping mechanisms to build confidence and resilience.
With our help Spear Bristol will be working with some 100 young Bristol people
this year - Visit the Hollis Morgan Charity page of our website for further
details
**Testimonials
**
We are very proud of what our past clients have say about us - please visit
the Hollis Morgan website to read their testimonials.
**I want to sell by auction
**
Since 2010 Hollis Morgan have been the most successful land and property
auctioneers across the Region. Famous for large public sales our reputation
was built on transparent, competitive bidding leading to some memorable
results. As a reaction to covid we have moved to a monthly live online
platform which has proved to be a huge success. Our core service has all the
benefits of a traditional auction but now, via a fully interactive online
saleroom with options to bid by telephone, proxy or online we can now reach a
national and international audience - the feedback from our clients is hugely
positive and we are now committed to this 21st century method of selling land
and property.
In 2022 Hollis Morgan Sold More Lots by auction in Bristol, North Somerset,
Bath & Gloucester than any other Auctioneer!
In 2022 over £65m of land and property was successfully sold under the hammer
by Hollis Morgan.
Since 2010 Hollis Morgan have Sold More Lots by auction than any other local
firm!
Bristol’s most experienced auctioneer Andrew Morgan mbe – with forty years’
experience on the rostrum.
Auction specific premium adverts on both the UK’s biggest property portals
Rightmove & Zoopla.
Digital Mailing list of over 40, 000 Local, National, Regional and
International Developers, Investors and family buyers.
Over 100 years combined property experience operating from our Regional HQ
based in Clifton covering Bristol and the West Country.
Innovative yet simple marketing techniques such as virtual tours, drone shots,
video tours, hi vis signage and professional photos.
Active and coordinated social media presence on Instagram, twitter, LinkedIn
and Google.
Why live online auction?
•Fixed Timescales & Speed - Exchange on the day with a quick & fixed
completion of 4, 6 or 8 weeks.
•Closure & Control - 10% non refundable deposit taken upon exchange and the
deal is done unlike a traditional sale.
•High Profile Sale – Intensive 4 - 6 week marketing campaign to make your lot
visible and available to all potential buyers.
•Guaranteed Price - you set a minimum reserve which protects you from selling
for any less than you want.
•Transparency & Competitive Bidding - Auction provides a transparency of sale
ensuring your lot is sold to the person willing to pay the most on the day.
For loads more reasons to instruct Hollis Morgan and the statistics to back it
up please visit our selling by auction section of the Hollis Morgan website.
**Auction property details disclaimer
**
Hollis Morgan endeavour to make our sales details clear, accurate and reliable
in line with the Consumer Protection from Unfair Trading Regulations 2008 but
they should not be relied on as statements or representations of fact, and
they do not constitute any part of an offer or contract. All Hollis Morgan
references to planning, tenants, boundaries, potential development, tenure etc
is to be superseded by the information contained in the legal pack. It should
not be assumed that this property has all the necessary Planning, Building
Regulation, or other consents. Any services, appliances and heating system(s)
listed have not been checked or tested. Please note that in some instances the
photographs may have been taken using a wide - angle lens. The seller does not
make any representation or give any warranty in relation to the property, and
we have no authority to do so on behalf of the seller.

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