A house in Southville owned by the same family for 65 years has been put up for auction. The property in Southville Place is in need of complete modernisation and many of the rooms are like stepping back to the 1950s when the owner bought it.
Arranged over three floors with an enclosed, south-facing garden, the mid-terraced period property has three bedrooms, two reception rooms, bathroom and kitchen. The house adjoins a property that was previously The Imp pub and is now luxury apartments.
The house in Southville Place is being sold with vacant possession and will be auctioned by Clifton-based Hollis Morgan. The guide price is £395,000 although similar renovated proprieties in Southville sell for in the region of £500,000.
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Auctioneer Andrew Morgan says that many properties auctioned in the area sell for considerably more than the guide price. They often sell for twice the asking price and it’s not just developers and investors who snap up such bargains.
Mr Morgan says: “Beads of excitement always form on an auctioneer’s brow when instructed on a property in BS3. This vibrant area has witnessed phenomenal popularity in recent years with the subsequent increase in property prices.
“At last, aspiring home owners have realised not only the convenience of living close to the city centre, but they are also able to steep themselves in the historic and vibrant cultural ambience of this fascinating area of the city where period houses are of a manageable size and you have a short cycle ride to the beautiful Somerset countryside.”
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Hollis Morgan is the largest firm of residential auctioneers in the West Country and they are instructed on properties all over the area. Mr Morgan says that in recent years, his auctioneers has had a 100% sales success in the BS3 district with the hammer price often exceeding double the guide price.
He says: “An auction is the obvious way to maximise the marketing, achieve a sale in a set amount of time and establish the correct sale price. It is also encouraging to see how over the years the profile of those buying at auction has changed.
“It is no longer developers and investors who necessary lead the bidding but it can often be a first time buyer who is the successful bidder. With monthly auctions held online and the opportunity to bid personally by telephone or to leave a proxy bid, nothing could be easier.
“This property in Southville Place has been occupied by the same family for over 65 years and does require some work but it fulfils all the right attributes. Prepare for some excitement on auction day!”
The live online auction takes place at 6pm on April 13 and registration deadline is 4pm on April 11. For more information, call 0117 9736565.
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