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5 bedroom terraced house for sale
Albert Road, Southsea PO4 0JP
£290,000
Albert Road, Southsea PO4 0JP
£290,000
Our Summary
- TO BE SOLD BY PUBLIC AUCTION AT A DATE TO BE CONFIRMED
- We invite immediate CASH OFFERS, prior to possible Public Auction, for this well-appointed and lucrative investment opportunity, being a VACANT MIXED COMMERCIAL/RESIDENTIAL PROPERTY arranged as Shop plus rear and upper five bedroom H
- Planning permission was granted in 2011 for Change of Use of the residential part to C3/C4 (house in multiple occupation), these rooms being let until recently to 5 sharers at £475 p
- ADDITIONAL AUCTION COSTS
- , will be payable by the purchaser to the Auctioneers, either in the Saleroom or, if the Lot is sold prior to Auction, at the offices of Nesbit & Co
- An Auction Legal Pack (including Contract of Sale and Special Conditions) will be prepared by the Seller's
Description
This vacant mixed commercial/residential property is being sold by public auction with a guide price of £300,000-£320,000. The property is arranged as a shop plus a rear and upper five-bedroom HMO, which has been recently let at a combined rent of £36,300 per annum, equivalent to a gross yield of 11.25%. The shop has a contemporary composite-clad facade and a walled garden to the rear. The living accommodation is ideal for owner-occupation or creating additional income. The property has a prominent trading location on Albert Road, with a variety of businesses nearby, including a Tesco Express outlet. The shop and residential areas have been recently let, with a total rent of £36,300 per annum. The property is being sold with a council tax band of 'A' and an EPC rating of 'D' for the residential area and 'B' for the commercial area. Viewings can be arranged by appointment with the auctioneers.