ARCHIVE | July '19 Results
2019 auct ion JULY 2019
residential sales | auctions ON SOLD EDITION SOLD
bristol and the west country's biggest property event
THE most successful AUCTIONEERS IN BRISTOL AND NORTH SOMERSET FOR THE LAST 8 YEARS *
* Source: EI Group 2010-2018, based on ‘amount raised’.
welcome to
BRISTOL AND THE WEST COUNTRY ' S biggest property event
“ T
2018 our results
he market continues to fascinate and frustrate in equal measure with the continued political uncertainty fuelling a somewhat negative overview of the UK property market – in reality we are finding that our region is bucking this trend with quality instructions facing fierce competition from multiple buyers, no doubt due to continued low interest rates, readily available finance and a general shortage of property. DID YOU KNOW? Last year Hollis Morgan sold more £££'s of land and property by auction than all the other Bristol and North Somerset Auctioneers combined with over £43m of successful sales. And since we formed in 2010 we have sold the most £££'s of land and property by Public Auction in than all the other Bristol and North Somerset – EVERY YEAR! – and now with over £270 million of auction sales since 2010! Many buyers perceive the current climate as an opportunity to invest whilst the old adage “form is temporary, class is permanent” proves there will always be buyers for quality lots. We have a wide range of lots from across the region with opportunities in Bristol, South Glos, Cotswolds, North Somerset, Chew Valley, Gloucester and Cheltenham. Opportunities include Georgian Townhouses, Wedding Venues, Pasture Land, Building Plots, Garage blocks, Country Cottages and Victorian Family Homes – something for every budget and strategy!
TOTAL
LOTS SUCCESS OFFERED RATE %
MARKET
RAISED £ SHARE % Hollis Morgan 183 85 % £ 44.7m 24 %
MAGGS & ALLEN
140 82 %
£21.9m 12 %
AUCTION HOUSE BRISTOL &WEST
68 72 %
£9.3m 5 %
DAVID PLAISTER LTD
40 67 %
£4.6m 2 %
DJ & P NEWLAND RENNIE
46 67 %
£3.0m 1 %
STEPHEN & CO
12 58 %
£1.4m 0.8 %
BESLEY HILL
8 75 %
£725k 0.4 %
* Source: EI Group 2011-2018 based on ‘amount raised’.
auctions
our 2018
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% SOLD 85
” Oliver Hollis olly@hollismorgan.co.uk
£ 44.7 M
TOTAL RAISED
We wish you the best of luck tonight and look forward to helping you celebrate your new purchase in the free bar afterwards!!
Bear Wood Project IS OUR CHARITY OF THE YEAR FOR 2019 www.wildplace.org.uk/bearwood
tel 0117 973 6565 | www.hollismorgan.co.uk | post@hollismorgan.co.uk
introducing …our auction team
the members of our team
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Sarah Western, Nick Heal, Lucinda Culpin and Calum Melhuish;
TOP ROW
Mike Hayne, George Harris. Karine Cadoret and Sarah Cocks.
BOTTOM ROW LEFT TO RIGHT
Andrew Morgan MBE Andrew is one of the most respected and well known estate agents and auctioneers in Bristol having spent a lifetime in residential agency and on the auction rostrum and is recognised as one of the most experienced provincial auctioneers in the country. His knowledge of property is second to none which is invaluable to one of the fastest growing agencies in the region. His love of Bristol and his obvious concern for others has led him to be involved in a huge number of charitable events throughout his career raising thousands of pounds by his entertaining charitable auctions. For this work he was awarded The MBE in The Queen’s Birthday Honours in 2013. He is chairman of several charities and is
property matters. He is currently actively involved in projects with St Mary Redcliffe church, All Saints Clifton and Clifton Village BID and other organisations in Bristol. Oliver Hollis BS C (HONS) Olly has worked in Estate Agency since 2003, beginning his career as Andrew’s junior negotiator at a local independent firm before moving on to auction assistant and eventually running the sales department. Olly then founded Hollis Morgan with Andrew in 2010.
Having been brought up in Clevedon his family moved to Bristol in the early 90s where with his two brothers he attended Clifton College. As a gap year he worked as a swimming pool salesman in Oxford before moving to Cardiff to complete a
Marketing Degree before returning to Bristol to start his career in property.
advisor to many others regarding
BRISTOL AND THE WEST COUNTRY ' S BIGGEST PROPERTY EVENT
2019 juneauct ion highlights
“ “ he June auction certainly reflected the vicissitudes of the current marketplace where an underlying, basically vibrant market is being tempered by a certain amount of indecision and apathy as a result of the “Brexit” effect . The net result of this was that many vendors chose to accept good offers prior to the auction rather than, as they saw it, taking the risk of waiting to go to the room. Understandable logic. But their fears were unfounded as, with continued low interest rates and general shortage of property, the market is still working well. Nowhere, was this seen better than in the sale of 229, Clevedon Road in Tickenham. Before we were instructed to auction the property it had languished on the market for quite some time with other Agents and the frustrated vendors had reached the stage where they required some action. As Auctioneers we immediately recognised the potential of the property and called in our planning partners, Stokes Morgan, to prepare a PPA ( a professional planning appraisal – see pages 10/11 for full details ). For a small charge to the vendor a full planning report was prepared that outlined many opportunities such as the ability to add another floor which would, not only, substantially increase the accommodation but would also exploit the lovely views over the valley. In addition it also pointed out the possibility of a replacement dwelling as well as the opportunity to provide additional housing. This very positive report attracted developers as well as those seeking a family home which resulted in a renaissance of interest and a most attractive offer prior to the auction and a signed contract well over £50,000 above the Guide Price! A good result indeed from the Hollis Morgan professional team! “T
SOLD £405k
GUIDE PRICE : £350 K +++
TICKENHAM
auction
JUN’19
% SOLD 82
5
”
Andrew Morgan MBE andrew@hollismorgan.co.uk
hollismorgan – the results speak for themselves…
BRISTOL AND THE WEST COUNTRY ' S BIGGEST PROPERTY EVENT
frequently asked questions
How do I book a viewing? The viewing schedule can be found in the property details – usually this is a fixed viewing once a week for 30 minutes.
How do I download the Legal Pack? Digital Copies of the Online legal pack can be downloaded via our website https://auctioneertemplates.eigroup.co.uk/guides.aspx?a=660&c=hom
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Can I make a pre auction offer? Some clients will consider pre-auction offers but you must wait for the legal pack and complete the offer form.
Can I book a valuation or a survey? If you would like to arrange a survey or valuation instruct your surveyor to contact Hollis Morgan
hollis morgan
residential sales | auctions
selling at auction – a brief guide
Hollis Morgan regularly hold the largest property auctions across Bristol and the West Country from our iconic Sale Room in Clifton, since we formed in 2010 we have sold the most £££'s of land and property by Public Auction in the region – EVERY YEAR! Between 2010 and 2018 we have held 51 auctions, offering over 1300 lots and raising £275m for clients across the region Did you know…Hollis Morgan sold more £££’s of land and property by auction than all the other Bristol Auctioneers combined in 2018 with over £43m of successful sales! We have approximately 40-60 lots per catalogue ranging from £10k to £3m and up to 750 people attend our iconic sales. The key benefits of a sale by public auction Speed – Exchange on the night with 28 day completion Closure – 10% deposit taken on the night and deal is done.
played out in front of your own eyes meaning no "what ifs!" Why Hollis Morgan? We sell the most £££'s of property by auction in Bristol and the West Country. Most Successful Auctioneers in the region since 2010. Bristol's most experienced auctioneer, Andrew Morgan MBE. Advertised online with auction specific posts on BOTH Rightmove, Zoopla plus many other search portals. High profile weekly press campaign focusing on the Bristol Property Live newspaper with regular adverts in the Western Daily Press, North Somerset Times and Bath Chronicle. Online Mailing list of 15,000 investors, developers, self-builders and family buyers. Local, national, regional and international audience. Most lots for sale and highest attendance. Approximately 750 people attend our auctions. Prestigious Clifton auction venue Regional office covering Bristol and the West Country. Experienced team offering expert advice. Download the full Sellers Guide or watch the video at www.hollismorgan.co.uk
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Intense 6 week marketing campaign with local, national and international coverage Access to a both traditional family buyers and the professional market.
Control – you have set out your plans for buyers to follow - you are in charge Reserve – you set a reserve which protects you from selling for less than you want.
Best possible price is achieved – and it is
You can download the full Buyers and Sellers Guides from our website www.hollismorgan.co.uk
BRISTOL AND THE WEST COUNTRY ' S BIGGEST PROPERTY EVENT
Hollis Morgan Auction Terms and Conditions apply. © Hollis Morgan Property Limited 2016
useful bidding tips BUYING at auction In advance of the auction, work out the top price you are prepared to pay for the property – it is very easy to be carried away in the excitement of the saleroom!
Make sure you obtain a bidding paddle and sit in a position where you can see the Auctioneer and, most importantly , where you can be seen.
The Auctioneer, as well as strategically placed spotters, will be scanning the room for bids. Last minute and unclear bids may not be seen.
The Auctioneer will call the successful bid three times and, if there are no further bids, the fall of the gavel will mean the property is sold .
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Bid clearly holding the bidding paddle high above your head to attract the Auctioneer’s attention.
The Auctioneer has the right to regulate the sale and his word is final .
Feel free to call out to attract attention if you think your bid has been missed.
Do not be afraid to ask for guidance from us – we are here to help you. Happy Bidding!
an exciting opportunity BUYING at auction
Four essential things to prepare for an auction • solicitors • survey • finance • ID Auctions offer a whole range of different and exciting property opportunities - why not see what is on offer? It may seem a daunting process to buy in a saleroom but if you follow these guidelines it is a very straightforward and enjoyable process. Do not be afraid to ask for guidance from us – we are there to help you. Can I attend an auction to see what happens? An auction is a public event you are most welcome to attend. We recommend that anyone thinking of buying by this method attends auctions in order to familiarise themselves with the process. How do I find out about new properties? Join our mailing list by either calling the office or send us an email via our website. How do I view the property? Viewings will be arranged and times published. You can view at these times without making an appointment. Arrive early to take advantage of the maximum viewing time. What is a price guide? 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 or not 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).
note that buyers CANNOT attend the surveys and the surveyors are responsible for collecting and returning keys to the Hollis Morgan offices in Clifton. What is a legal pack? A legal pack is prepared by our clients solicitor and Digital Copies of the Online legal pack can be downloaded Free of Charge. *** 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. Will I need a deposit? You will need to bring a cheque or debit card to the auction for the deposit of 10% of the buying price (minimum £2,000) which is payable to our client's solicitor. CASH IS NOT ACCEPTABLE . Is there a Buyers Premium? You will need to bring a separate cheque to the auction payable to hollis morgan for £1,000+VAT (total £1,200). Do I need ID? You will need to bring photographic identification with you on the sale night. See our separate download for full details. Can someone bid on my behalf? Someone else can bid for you. They should make themselves known to the auctioneer prior to the sale. They must be prepared to sign the contract on your behalf and pay the required deposit. They must also bring ID with them. For more information watch our Buyers Guide Video @ www.hollismorgan.co.uk Good Luck and Happy Bidding!
Both the guide price and the reserve price can be subject to change up to and
including the day of the auction. What is a 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. Can I make an offer? Pre-auction offers can be only submitted by completing the OFFER FORM which can be downloaded within the online legal pack. Please note offers will not be considered until you have viewed the property and the COMPLETE legal pack has been released. In the event of an offer being accepted, the property will only be removed from the auction and viewings stopped once contracts have successfully exchanged subject to the standard auction terms and payment of the buyers premium to Hollis Morgan. Can I bid on the telephone? If you cannot attend the auction (although we strongly advise you do) you can make a TELEPHONE or PROXY BID. This authorises the auctioneer to bid on your behalf up to a pre-set limit. Forms and relevant conditions are available to download with the online legal pack. A completed form, ID and two cheques (one for the 10% deposit and one for the Buyer's Administration Fee of £1,000+VAT) are required by the Auction Department at least two full working days before the auction. Should I have a survey? 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
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You can download the full Buyers and Sellers Guides from our website www.hollismorgan.co.uk
BRISTOL AND THE WEST COUNTRY ' S BIGGEST PROPERTY EVENT
Hollis Morgan Auction Terms and Conditions apply. © Hollis Morgan Property Limited 2019
NEW OUR VALUE – ADDING PLANNING SERVICE
planning permission reducing risk; increasing value investment and think it has development potential? Want to know what it is worth and how best to sell it? Do you have a building plot, want to sell a section of your garden or purchased a parcel of land or garages as an
Hollis Morgan are asked to value land and potential sites on a daily basis and generally the value of the land is directly proportional to how much money a developer can generate or its GDV (Gross Development Value). The GDV generally defines the value and unless you have planning consents for a specific scheme it can often be difficult to judge by both us and your potential buyers – this is the Risk element . To solve this Hollis Morgan have created a partnership with planning professionals Stokes Morgan Planning Consultants to offer a complete service to reduce the risks to your buyers and maximise the sale value of your land.
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Stokes Morgan are known for providing a high quality, cost effective planning service whilst Hollis Morgan are the most successful auctioneers in Bristol and North Somerset. WHY US?
The PPA report helps reduce the planning risk and increase the value of your land without the time and costs of seeking outline planning permission.
PPA professional planning appraisal
We will provide a professional appraisal of the development potential of the site by qualified Chartered Planners which will include sketch layout/site plans which buyers will be able to use to give them a better indication on the potential of the site. We find that especially on smaller sites that a professional opinion illustrating a proposed scheme encourages buyers and a higher price is usually achieved . The PPA is paid for by your buyer upon completion on a no sale no fee basis – a charge of £700+VAT is added to the contract – they then have a £700+VAT credit to spend on planning with Stokes Morgan – everyone wins. The PPA report will include the following information:
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What is a PPA? Introduction Constraints Opportunities Development Potential Sketch Block Plans
hollis morgan residential sales | auctions
A typical PPA report
residential sales | auctions
we want your
renovated property…
Be a part of the hollis morgan property cycle… Many of our successful auction clients instruct the Hollis Morgan Residential Team to sell their renovated and new build properties. If you instruct our residential sales
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team to sell your renovated property, we will refund your buyers’ premium*.
Your property is only new to the market once... get it right first time with Hollis Morgan
hollismorgan – not just auctioneers…
TEL | 0117 973 6565 | 9 Waterloo Street, Clifton, Bristol BS8 4BT www.hollismorgan.co.uk | post@hollismorgan.co.uk
* to be deducted from our commission upon completion.
THE PROPERTY CYCLE … BUY … BUILD … SELL … REPEAT
THE PROPERTY CYCLE BUY AT AUCTION , BUILD OR REFURBISH . SELL WITH OUR RESIDENTIAL SALES TEAM . REPEAT THE CYCLE .
BUY
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BUILD
REPEAT
SELL
turn the page to see some successful examples …
sales
r e s i d e n t i a l
residential sales | auctions
SOLD by us at our auction…
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BEFORE
“ ” IN THE AUCTION CATALOGUE WE SAID : Planning Granted for 6 x 2-bed houses… PROPOSED ELEVATIONS
Plot @, Catherine Mead Street, Bedminster, Bristol BS3 1XH was bought at a hollismorgan auction.
residential sales | auctions 0117 973 6565
THE PROPERTY CYCLE … BUY … BUILD … SELL … REPEAT
… SOLD by our New Homes department
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AFTER
3 | SOLD BY US Six Freehold townhouses with aesthetically pleasing external finishes, carefully constructed to be energy efficient . Arranged over three levels: GROUND FLOOR front-to-back ‘open plan style’ living, with stylishly appointed contemporary kitchens and access to private enclosed lawned gardens; FIRST FLOOR two double- bedrooms and a family bathroom; SECOND FLOOR master bedroom with en-suite shower room. 1 2 | |
hollismorgan – not just auctioneers…
sales
r e s i d e n t i a l
residential sales | auctions
SOLD by us at our auction…
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OUR CL IENT SAID : "Excellent service yet again on the sale of a house. Calum and Mike kept in touch by phone and email throughout the whole process. The fees were very fair…Thanks guys!”
BEFORE
“ ” IN THE AUCTION CATALOGUE WE SAID : in need of updating…
26 Shipley Road Road, Westbury-on-Trym was bought at a hollismorgan auction.
residential sales | auctions 0117 973 6565
THE PROPERTY CYCLE … BUY … BUILD … SELL … REPEAT
…refurbished and SOLD by us by private treaty
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AFTER
SOLD BY US Set in an elevated position, in arguably one of the most desirable locations in Westbury Village, No 26 underwent extensive renovation before coming back to market as a stunning three storey family home. SOLD in a little over a week for in excess of the asking price. hollismorgan – not just auctioneers…
sales
r e s i d e n t i a l
residential sales | auctions
SOLD by us at our auction…
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BEFORE
“ ” IN THE AUCTION CATALOGUE WE SAID : now needs updating…
51 Avon Way, Stoke Bishop was bought at a hollismorgan auction.
residential sales | auctions 0117 973 6565
THE PROPERTY CYCLE … BUY … BUILD … SELL … REPEAT
…refurbished and SOLD by us by private treaty
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AFTER
SOLD The property recently underwent meticulous refurbishment resulting in a superb, warm and welcoming family home. Positioned in a generous 1/3 acre plot, in a quiet residential area with excellent amenities close by. A superb property SOLD at £550,000. hollismorgan – not just auctioneers…
sales
r e s i d e n t i a l
residential sales | auctions
SOLD by us at our auction…
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BEFORE
Land at: 76 Horfield Road, Cotham, Bristol BS2 8EQ was bought at a hollismorgan auction. “ ” IN THE AUCTION CATALOGUE WE SAID : A level site of 0.15 Acres located a few hundred yards from the University and BRI with Full Planning to erect 9 stylish flats.…
residential sales | auctions 0117 973 6565
THE PROPERTY CYCLE … BUY … BUILD … SELL … REPEAT
… SOLD by our New Homes department
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AFTER
SOLD OUR CLIENTS SAID : " It was a pleasure to be associated with Hollis Morgan for our nine unit apartment development in Cotham, from site acquisition stage through to the sale of the units. We received informed guidance on what the market required in terms of prices, fixtures, fittings, finishes and anything else that cropped up. Not least due to their help and guidance, the development was a terrific success and we look forward to many more projects with this excellent team in the future. " W ESTBURY G UILDS L TD .
hollismorgan – not just auctioneers…
sales
r e s i d e n t i a l
residential sales | auctions
SOLD by us at our auction…
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BEFORE
“ ” IN THE AUCTION CATALOGUE WE SAID : now needs updating… FOR SALE AT AUCTION : A larger than average Hall Floor Flat with sole use of the front garden and four bedrooms – now in need of updating .
11 All Saints Road, Clifton was bought at a hollismorgan auction.
residential sales | auctions 0117 973 6565
THE PROPERTY CYCLE … BUY … BUILD … SELL … REPEAT
…refurbished and SOLD by us by private treaty
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AFTER
SOLD 11 All Saints Road is an exceptional period apartment situated on the hall floor level of a grand
Victorian building, the property has been carefully restored by its current owners, combining exquisite period features with modern touches to produce a stunning home. hollismorgan – not just auctioneers…
sales
r e s i d e n t i a l
PROPERTY INVESTMENT DEVELOPMENT FINANCE BRIDGING
We can offer independent advice for all your property auction related financial requirements AUCT I ON F I NANCE
If you are looking to finance your property needs at auction we can offer independent financial advice specifically suited to developers and investors, with…
our services include
auction finance options
bridging and commercial finance specialist for the self-employed
RESIDENTIAL AND BUY - TO - LET MORTGAGES
residential, buy-to-let and remortgaging
‘agreement-in-principle’ from most lenders within hours
SECURED LOANS AND BRIDGING LOANS
LIFE COVER FOR FAMILY AND BUSINESS INCLUDING TRUSTS
COMMERCIAL MORTGAGES AND FINANCE
TELEPHONE : 0117 973 4300 E - MAIL : info@stevemears.com
PROTECTION AGAINST ILLNESS FOR FAMILY AND BUSINESS
Typically we charge a fee of £395 for processing the mortgage and this will be payable in two instalments. Initially £200 will be payable when we submit your application form to the lender and the balance of £195 will be payable within 14 days of the loan completing. If your mortgage proceeds to completion we will also receive any commission payable from the lender. Our fees are dependent upon your circumstances and therefore could be more than this. THE FINANCIAL CONDUCT AUTHORITY DOES NOT REGULATE COMMERCIAL FINANCE OR ADVICE ON WILLS AND TRUSTS. THE FINANCIAL CONDUCT AUTHORITY DOES NOT REGULATE SOME ASPECTS OF BUY TO LET MORTGAGES AND BRIDGING LOANS. Steve Mears Independent Mortgage Services is a trading name of Steve Mears Ltd, Registered in England and Wales – Registered Number 6180562; Registered office: 28 Alma Vale Road, Clifton, Bristol BS8 2HY; Directors: Steve Mears and Emma Mears. Steve Mears Independent Mortgage Services is an appointed representative of Owen and Associates, which is authorised and regulated by the Financial Conduct Authority. Your home or property may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.
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introducing steve mears – independent financial advisor the money man Refurbishment, buy-to-let – all in one
“
The same valuer for both the initial valuation and the re-inspection One conveyancer and discounted legal fees Landlords can borrow up to 75% LTV on the bridge and up to 80% of the post works valuation on the buy to let mortgage helping to optimise cash flow Low Bridging rates and any of the lenders buy to let mortgage products can be chosen. No mortgage repayments are required whilst the refurbishment works are being completed. We feel these latest ‘tweaks’ give further peace of mind and are a real helping hand to expand your portfolio. If you’re interested in buying a property to lightly renovate and then want to keep it, or any other type of borrowing, please come and chat to us tonight or call us on 0117 9734300. You can also pop into our office on Alma Vale Road to make an appointment. Happy Bidding! ” “ … the product brings together the flexibility of bridging with a guaranteed exit*’ …
In early 2019, we were given access to a combined Bridging Product and Buy-to-Let mortgage, to allow our clients to… maximise rental yield and increase capital value with Refurbishment Buy-to-Let This has recently been upgraded to allow: Change the use of a property to or from a HMO Change the use of a garage to a habitable room Properties needing work to meet minimum EPC rating Properties purchased at auction that require light refurbishment work Landlords choosing to refurbish to maximise rental yield The Refurbishment Buy-to-Let product is designed to help landlords maximise rental yields by refurbishing the target property before they rent it out. The product brings together the flexibility of bridging finance with an exit onto a long-term buy-to-let mortgage once the work has been completed. Giving landlords the peace of mind that they have an exit, and that they can also rest assured that the price of the buy-to-let loan at offer will be the price they get on completion ( *providing there are no changes and the property meets the expected valuation following refurbishment ). One application form will produce two offers, one for the bridge and one for the buy to let One expert underwriter from start to finish
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”
Please remember YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE .
to contact Steve, email info@stevemears.com , telephone 0117 973 4300 or to find out more about Steve Mears Independent, visit www.stevemears.com
introducing Don McKeever – residential lettings investment advisor Just lettings, just Bristol Let us help you find an investment that works for you. The Bristol Residential Letting Co are an independent and impartial agent dealing exclusively in Bristol, exclusively in lettings. We can provide expert lettings advice on these auction lots. Our advice is free so get please get in touch.
What makes the best investment? Target the growing young professional market. Walking distance to the City Centre or on good transport links. Professional sharers will pool resources to rent a 3-4 bedroom house, maximising your rental income in the process. Finding houses that can be converted to flats offers good rental potential and capital appreciation. 1 bed flats/apartments are in high demand from high earning single professionals. Affordable homes are in demand so consider areas further from the Centre if the yield is attractive and the area has sufficient services and amenities. What has the best yields? A good gross yield in the Bristol market is currently around 5%. It is possible to achieve much higher gross yields of up to 10% by investing in high density HMOs. They do however require intensive management with high turnover of occupants creating risk of increased void periods. The 1 bed market in or close to BS1 can offer you a high calibre tenant, opportunity for capital growth, and a 5%+ gross yield. What do the best tenants want? Modern, stylish, clean and low maintenance properties. The days of magnolia walls and cream carpets are long gone. Stylish grey tones and minimalist finishes are in demand. This can be evidenced with most new build developments appearing in the City. Corporate lets can make for secure tenancies and their requirements will range from stylish studio apartments to large 4 bed houses. Regardless of the size of property, the same expectations for quality of finish applies.
What properties have the best chance of capital growth?
The Bristol market has seen strong capital growth over the last decade. With the London market becoming unaffordable for a lot of investors, we have seen more money invested in Bristol instead. More owner occupiers are also choosing to live in Bristol while working in London. Extensive redevelopment of the Harbourside area and future plans for redevelopment around Temple Meads have also helped push asking prices up. Victorian and Edwardian Houses are always in high demand and have seen strong growth due to their spacious layout and flexible space. What type of properties command strongest rents? Premium properties command premium rents. City Centre 3-4 bed houses are in short supply and so command strong rents when marketed. Unique properties such as conversions of interesting buildings (eg. The General Hospital) are prime real estate and offer high rents compared to other stock in the same area of the same size. What locations are most desirable? Clifton has long been seen as one of the most desirable areas of the City. However, premium rents and sale prices in Clifton have encouraged people to settle in other areas. This has resulted in areas such as Southville becoming one of the most desirable areas to live for those that cannot afford Clifton. The Harbourside will always maintain high demand with its close proximity to all that Bristol has to offer. Areas on the periphery of the City Centre such as Brislington, St George, Montpelier and Easton are becoming more popular and are seen as the more affordable places to invest in today’s market.
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The Bristol Residential Letting Co.
SOUTHVILLE OFFICE
CLIFTON OFFICE
To contact Don, email don@bristolreslet.com , telephone 0117 370 8818 or find out more about The Bristol Residential Letting Co by visiting www.bristolreslet.com
SOUTHVILLE OFFICE : 0117 370 8818 CLIFTON OFFICE : 0117 973 5237
Who and what are RESOC?
The UWE Real Estate Society (RESOC) was founded in 2017 by 3, second year UWE 'Real Estate' students and has grown into a great tool for the student body to take their interest in property
to the next level and get real world experience and make their own connections. The society works closely with the course lecturers and similar societies at other universities to organise great events and help improve the employability of our members.
• Offering talks from industry experts so that UWE students have better commercial knowledge. Who can join the society? All UWE students past and present are more than welcome to join our society, but we specifically focus on attracting students interested in employment in the built environment. We are very keen to hear from UWE property alumni and rebuild connections with them . More information about what we do is available on our website: www.resoc.co.uk and you can get in touch with us via email at: info@resoc.co.uk or speak to one of us this evening at the auction.
Who are the committee? We are a committee of 5 people consisting of various roles from different RICS accredited courses at the University of the West of England (UWE). We run the society because we are all focused on improving our career and building our networks from as early as possible and getting to know everyone on our courses. What is the aim of the society? The aim of our society is to help our members to develop employability, extend networks and build friendships. We do this by: • Organising social events for everyone to get to know people in different years and courses. • Giving our members opportunities to interact with industry experts by hosting events that will attract both professionals and students.
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BRISTOL AND THE WEST COUNTRY ' S BIGGEST PROPERTY EVENT
Hollis Morgan Auction Terms and Conditions apply. © Hollis Morgan Property Limited 2019
£192 K SOLD
LOT 1
43, STATION ROAD, WESTON-SUPER-MARE BS23 1XY
Weston-super-Mare GUIDE PRICE : £125 K +++
PROPERTY AREA 1373.6 ft 2 /127.6 m 2
Art Deco style house for updating A Freehold semi detached 1930's property in the Art Deco Style occupying a generous plot with off street parking and enclosed gardens to the rear. Positioned a few minutes walk from the Train station and also extremely close to the town centre and sea front.. The accommodation is arranged over two floors. • House for modernisation The property now requires modernisation but would make a fine family home in this sought after location. • Extension There is scope for an extension to rear (STC) • Flat conversion Scope for conversion to 2 Flats (STC) • HMO/Student Investment Potential for 4+ tenants.
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SOLICITORS
contact:
Paul Hayward, Wards Solicitors
paul.hayward@wards.uk.com
£124 K SOLD
LOT 2
31
9, NORTH STREET, BEDMINSTER, BRISTOL BS3 1EN
GUIDE PRICE : £90 K +++
Bedminster
Commercial investment A leasehold ground floor retail unit in a prominent trading position at the lower end of the vibrant North Street within the popular suburb of Southville. Offered in excellent decorative order with kitchen and bathroom and electric roller/shutter doors and now requiring basic fit out to suit individual occupants. Sold with vacant possession and residue of new 999 year lease. • New 999 Year Lease • Investment An excellent long term investment in this thriving and sought after trading position
PROPERTY AREA 735.2 ft 2 /68.3 m 2
SOLICITORS
contact:
Steffani Asquith, Carbon Law Partners
steffani.asquith@carbonlawpartners.com
AGREED PRIOR TO AUCTION SALE Bristol City Council have now agreed a sale prior to auction under the Community Right to Bid Localism Act.
LOT 3
134A AND 136, GROSVENOR ROAD, ST. PAULS, BRISTOL BS2 8YA
GUIDE PRICE : £115 K +++
St Pauls
PROPERTY AREA 995.7 ft 2 /92.5 m 2
Freehold with potential ***Sold with Vacant Possession*** A Freehold end of terraced property (995ft 2 ) overlooking the Grosvenor Road Triangle Park arranged over two floors and is sold with vacant possession in a prominent position in the heart of St. Pauls. • Residential development The property is now in need of basic updating throughout and is sold with vacant possession. There is scope to convert the existing (most recently used as an office for a local charity) into residential accommodation (subject to consents).
32
SOLICITORS
contact:
Janet Hartnoll, Property Team, Bristol City Council
teL; 0117 9222594
£151 K SOLD
LOT 4
4, LUDLOW CLOSE, WILLSBRIDGE, BS30 6EA
GUIDE PRICE : £128 K +++
Willsbridge
PROPERTY AREA 495.1 ft 2 /46.0 m 2
One bed house for basic updating
33
A Freehold semi detached one bedroom house with a mature enclosed rear garden. Separate garage and parking. The house is located within the popular suburb of Willsbridge, Keynsham is less than two miles away and includes a railway station which provides routes into Bristol & Bath. • Low Price for Auction The property is offered at a low price for sale by public auction. A very similar property sold in September 2017 for £190,000: 32 Ludlow Close, Willsbridge, Bristol, South Gloucestershire BS30 6EA • Basic updating The property would benefit from basic updating but would make a fine home or investment in this sought after location. • Investment Excellent rental prospects - please refer to rental appraisal.
• Rental Appraisal: The Bristol Residential Letting Co £650-£700pcm.
SOLICITORS
contact:
Jessie Blain, Gordon Dadds
JessieBlain@incegd.com
£200 K SOLD
LOT 5
GUIDE PRICE : £185 K +++ 10, LONDON STREET, KINGSWOOD, BS15 1QZ
Kingswood
PROPERTY AREA 1002.6 ft 2 /93.1 m 2
Block of two flats A Freehold mid terrace period property with enclosed rear garden located just off the busy Kingswood High Street. The property has been arranged as 2 self contained one bedroom flats for many years. • Sold subject to existing tenancies • Investment opportunity The flats are currently occupied with professional tenants on AST contracts GROUND FLOOR : £600pcm (commenced May 2018) FIRST FLOOR : £550pcm (commended 2011) TOTAL : £1150pcm/£13,800pa • Scope to increase rents/Requires basic updating Both flats have been let for a number of years and would now benefit from updating. Potential Rents:
34
G ROUND F LOOR : £725pcm (Proposed) F IRST F LOOR : £650pcm (Proposed) T OTAL : £1375pcm/£16,500pa (Proposed) • Break Up/Resale There is scope to sell the flats individually.
SOLICITORS
contact:
Robin Phillips, Mowbray Woodwards
arp@mowbraywoodwards.co.uk
£260 K ORIGINALLY POSTPONED DELAY WITH LEGAL PACK
SOLD
LOT 6
HOUSE + PLOT, 4, MULBERRY DRIVE, KINGSWOOD BS15 4EA
GUIDE PRICE : £240 K +++
Kingswood
PROPOSED SCHEME
House + Plot combo Freehold semi detached property occupying an elevated position on a larger than average corner plot with accommodation arranged over two floors in the popular suburb of Kingswood • Development Combo • House for updating The property now requires modernisation but has scope for a fine home with a single story extension to the rear and a large garden plus two off street parking spaces. • Plot: Planning Granted
35
Planning has been granted (PK18/3708/F) to erect a semi detached 3 bedroom house to the side of the property with corner garden plus two off street parking spaces. Please refer to plans for details .
SOLICITORS
contact:
Ashley White, Star Legal Solicitors - Clevedon
ashley.white@star-legal.co.uk
£77 K SOLD
LOT 7
GUIDE PRICE : £70 K +++ 34, GLENDARE STREET, BARTON HILL, BRISTOL BS5 9SG
Barton Hill
PROPOSED SCHEME
Plot with Planning A Freehold corner parcel of land forming the end terrace of Glendare Street and March Lane located within the suburb of Barton Hill, a popular area within a few minutes of the vibrant Church road • Planning Granted: New Build Planning has been granted to erect a new build quirky end of terrace architect designed Freehold property. The new building will be arranged over three floors with bright and airy accommodation plus a courtyard garden. DECISION : GRANTED subject to condition(s) APPLICATION NO : 17/06481/F TYPE OF APPLICATION : Full Planning SITE ADDRESS : Land Adjacent To 34, Glendare Street, Bristol. DESCRIPTION OF DEVELOPMENT : Construction of a three storey, 3 bedroom end-of-terrace house. AGENT : Gambles Architects COMMITTEE / DELEGATION DATE : 16.02.18 DATE OF NOTICE : 16.02.18
36
SOLICITORS
contact:
Theo Vitagliano, Wards
theo.vitagliano@wards.uk.com
£145 K SOLD
LOT 8
3, CORONATION ROAD, BANWELL, BS29 6AZ
GUIDE PRICE : £130 K +++
Banwell
PROPERTY AREA 1008.1 ft 2 /93.7 m 2
Four bedroom family home A Freehold semi detached 1950's four bedroom family home arranged over two floors with an enclosed rear garden and parking to the front plus far reaching rural views from the upper floors. • Four bed house for Investment The property is offered in excellent decorative order with great rental prospects. • Family Home Superb value family home in this sought after village location. • Construction Please note the property is of non standard construction which may effect your ability to obtain a mortgage
37
SOLICITORS
contact:
Malcolm Buck, Fussell Wright
malcolm.buck@fussellwright.co.uk
why sell with
hollis morgan? Because again in 2018 we sold more £££s of land and property by auction than ALL the other auctioneers in Bristol and North Somerset combined!
183 LOTS OFFERED IN 2018 RAISING
… WITH
OVER £44m FOR CLIENTS ACROSS THE WEST COUNTRY hollismorgan – the results speak for themselves… THE most successful AUCTIONEERS IN THE REGION FOR THE LAST 8 YEARS *
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LOTS SUCCESS OFFERED RATE % SHARE % Hollis Morgan 183 85 % £ 44.7m 24 % 2018 our results TOTAL MARKET RAISED £
MAGGS & ALLEN
140 82 %
£21.9m 12 %
AUCTION HOUSE BRISTOL & WEST 68 72 %
£9.3m 5 %
DAVID PLAISTER LTD
40 67 %
£4.6m 2 %
now with over £270 million of auction sales since 2010!
D J & P NEWLAND RENNIE 46 67 %
£3.0m 1 %
STEPHEN & CO
12 58 %
£1.4m 0.8 %
BESLEY HILL
8 75 %
£725k 0.4 %
* Source: EI Group 2011-2018 based on ‘amount raised’.
hollis morgan
residential sales | auctions
TEL | 0117 973 6565 | 9 Waterloo Street, Clifton, Bristol BS8 4BT
£72 K SOLD
LOT 9
39
LAND ADJACENT TO, 13, CAPGRAVE CLOSE, BRISLINGTON, BRISTOL BS4 4TJ
GUIDE PRICE : £65 K +++
Brislington
PROPOSED SCHEME
Freehold Plot – Planning Granted A Freehold corner plot formerly the gardens of Number 13 on a quiet residential area located just off Broomhill Road within the popular suburb of Brislington. Sold with vacant possession. • Development Site Planning has been granted (18/05624/F) to erect a semi detached two bedroom plus study house in this sought after location.
SOLICITORS
contact:
Katie Hughes, AMD Solicitors
katiehughes@amdsolicitors.com
54, FAIRFIELD ROAD, MONTPELIER, BRISTOL BS6 5JP
£600 K SOLD
10 LOT
40
PROPERTY AREA 1882.9 ft 2 /174.9 m 2
£600 K SOLD
LOT 10
41
54, FAIRFIELD ROAD, MONTPELIER, BRISTOL BS6 5JP
GUIDE PRICE : £500 K +++
Montpelier
Freehold mid terraced period property occupying a commanding, elevated position on one of Montpelier's most sought after residential locations with a Southerly facing garden and far reaching city views. A period family home
A
***Sold with Vacant Possession*** The property is sold with vacant possession and provides spacious accommodation (1882ft 2 ) over three floors and retains a wealthy of period features including sash windows, high ceilings, fire places and stripped timber floors.
Family Home: Reduced Price for Auction The property was recently marketed by local agents at £665,000 and is now reduced in price for sale by public auction. This Freehold Period gem would make a fine family home in this sought after location and offers excellent value. Investment/HMO The property has excellent rental prospects.
SOLICITORS Sharon Lee, Veale Wasbrough Vizard
contact: slee@vwv.co.uk
£110k SOLD
LOT 11
THE OLD DAIRY, FLAT 3, STOKE LANE, STOKE LODGE, PATCHWAY BS34 6DU
GUIDE PRICE : £90 K +++
Patchway
PROPERTY AREA 438.0 ft 2 /40.7 m 2
Flat for basic updating/investment
42
A Leasehold first floor one bedroom flat occupying a corner position in this imposing detached period property set in mature walled gardens with communal parking. • Management Fees: £50 pcm • Basic updating The flat has been let for a number of years and would now benefit from basic updating to create an excellent home or investment in this sought after location. • Investment The flat is sold with vacant possession but has previously been let for £525 pcm and there is scope to increase this when the flat is updated.
• Rental Appraisal: The Bristol Residential Letting Co. £625-£6755pcm.
SOLICITORS
contact:
Luke Hewitt, Wards
Luke.Hewitt@wards.uk.com
AGREED SALE
LOT 12
PROPOSED SCHEME
BUILDING PLOT, NORTHGATE, BRIDGWATER, TA6 3EU
GUIDE PRICE : £60 K +++
Bridgwater
PROPOSED SCHEME
Planning Granted for a 3 bedroom house A Freehold parcel of land formerly the car park for the adjacent Courthouse in a central location in Bridgwater. Please note the Courthouse is currently being converted into luxury apartments due for completion in early 2019. • Planning Granted Planning has been granted to erect a detached 3 bedroom house arranged over two floors with parking and garden. Sedgemoor Council – Planning Reference 08/18/00184 • Site GDV We understand the resale value of the completed property is in the region of £250,000-£275,000.
43
SOLICITORS
contact:
John York, Adams Burrows
john@adamsburrows.co.uk
NEW HOMES NEW HOMES
FOR SALE BY PRIVATE TREATY
| ST WERBURGHS
| BRISTOL BS2 9QP |
SUSSEX MEWS
SUSSEX PLACE
Sussex Mews is an exclusive development of just six contemporary three bedroom Freehold townhouses with bright and airy accommodation over three floors with courtyard gardens. Constructed to the highest environmental standards to ensure low heat loss and energy waste, whilst effortlessly blending into the surrounding neighbourhood. A development of six townhouses Alberton Court is an exclusive development of just 10 high specification 1,2 and 3 bedroom apartments, situated in A development of ten 1, 2 & 3 bed apartments the ever popular village of Frenchay which provides excellent access to Bristol City Centre and major motorway links. Please call us for full details and specifications on these properties. ALBERTON COURT
PRICES RANGE FROM £340,000-£385,000
44
NEW HOMES ALBERTON ROAD
| FRENCHAY
| BRISTOL BS16 1HH |
PRICES RANGE FROM £197,500-£315,000
MARKETED EXCLUSIVELY BY HOLLIS MORGAN NEW HOMES AND LAND
£124 K SOLD
LOT 14
473A, SOUTHMEAD ROAD, SOUTHMEAD, BRISTOL BS10 5LZ
GUIDE PRICE : £120 K +++
Southmead
PROPERTY AREA 711.3 ft 2 /66.1 m 2
Renovated flat – close to hospital ***Reduced Price For Auction*** A leasehold self contained two bedroom flat (711ft 2 ) offered in excellent order having just been the subject of a total renovation with a new roof, front windows, kitchen, flooring, electric heaters and decoration throughout. The property is accessed via steps to the first floor above a rank of commercial units and is offered with vacant possession. Situated on Southmead Road which is a prime location close to Southmead Hospital, local schools and amenities and transport links to the City. • Low Price for Quick Sale The vendor is seeking a quick sale and has set the price below market value. Interested parties should note a similar but unmodernised unit (477a) sold for £140,000 in October 2014.
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• Rental Appraisal: The Bristol Residential Letting Co. £750-£775pcm or £400-£425 pcm per room.
SOLICITORS
contact:
Rachel Brownlie, Dee & Griffin Solicitors
e-mail: info@deeandgriffin.co.uk
70, KINGSDOWN PARADE, KINGSDOWN, BS6 5UQ
£970 K SOLD
15 LOT
46
PROPERTY AREA 3206.0 ft 2 /297.8 m 2
location Kingsdown Parade is located
in the highly desirable residential suburb of
Kingsdown/ Cotham which is ideally positioned for access
to Bristol University (0.2 miles) and the BRI (0.1 miles).
£970 K SOLD
LOT 15
47
70, KINGSDOWN PARADE, KINGSDOWN, BS6 5UQ
GUIDE PRICE : £800 K +++
Kingsdown
Freehold Georgian Gem in the heart of Kingsdown with outstanding far reaching views over Bristol to the rear. The property is currently arranged as a fully licensed 10 bedroom HMO but retains many of the original features and has a south facing garden with rear access. ***Sold subject to existing tenancies*** Student HMO investment
A
The opportunity Student Investment The property is fully let for the 2019/2020 academic year to a group of 9 students paying £61,200. (Please note it is licensed as a 10 bedroom HMO but the group are paying extra for an additional reception/study room).
Family Home The property has the potential for a wonderful family home ( subject to vacant possession ) with an array of period features and stunning views. Having been let for a number of years it would now benefit from some basic updating.
SOLICITORS Stephen Parker, Barcan Kirby
contact: stephen.parker@barcankirby.com
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