A five-bed property – used as student accommodation – tucked away in an alley is up for auction. Although barely visible to the average passer-by, the leasehold property has the potential to make some serious cash.
Situated on Jacobs Wells Road, Cliftonwood, this two-storey maisonette listed on Rightmove, is being auctioned off as a fully licensed student accommodation with a communal lounge and kitchen.
The properry, which sits on the road between Hotwells and Clifton could see an annual turnover of £30,000 or more for anyone looking for an investment opportunity with a leasehold residue of 999 years.
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Auctioneer Andrew Morgan MBE said: “What could be more intriguing, for a young student in Bristol, than to approach your home down an almost secret alleyway in the heart of historic Bristol, close to the University, the docks, Brandon Hill and Clifton Village .
“In my youth student accommodation was notoriously grotty but now the world has completely changed with students and young professionals rightly demanding a high standard of accommodation for which caring landlords can expect an excellent yield.
“With alternative investments often showing disappointing returns, the attraction of Licensed Houses of Multiple Occupation has proved to be a very attractive investment. As the most experienced Auctioneers offering properties in this genre, a large proportion of our monthly catalogs are now devoted to HMO’s attracting , not only property professionals but those who might otherwise have invested elsewhere.
“Naturally, as Auctioneers, we also have properties that, for one reason or another, have become rather tired and require a radical update and can see the potential. Something for everybody.”
According to the listing: “Cliftonwood offers an alternative to nearby Clifton Village with a stronger sense of community whilst still benefiting from the excellent nearby amenities in the Village, Whiteladies Road and the Triangle with independent shops, boutiques, cafes, bars and restaurants.
“Brunel’s Clifton Suspension Bridge provides a gateway to the Ashton Court Estate with its woodlands, mountain bike trails and walks whilst there is excellent access to the exciting Harborside district, the City Center and Temple Meads.”
The live online auction is set to commence on Wednesday, April 13 at 6 pm and the registration deadline is on Monday, April 11 at 4 pm.
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