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5 bedroom end of terrace house for sale
161-165 Highland Road, Southsea PO4 9EY & Flats 1-4 Hellyer Road, Southsea, Hampshire, PO4 9DH
£650,000
161-165 Highland Road, Southsea PO4 9EY & Flats 1-4 Hellyer Road, Southsea, Hampshire, PO4 9DH
£650,000
Our Summary
- TO BE SOLD BY AUCTION METHOD
- We invite IMMEDIATE CASH OFFERS (on strict Auction terms) for this valuable and very substantial MIXED COMMERCIAL/RESIDENTIAL INVESTMENT OPPORTUNITY with much potential; comprising three linked buildings now affording FOUR SELF-CONTAINED FLATS (3 x one bedroom, 1 x two), ALL LET, plus VACANT SHOP (294 sq m approx) AND BASEMENT (97 sq m approx); having a current/projected return of around £65,000 p
- (with scope, it is felt, for uplift)
- The generous basement, together with rear flat roof, may, it is felt, hold scope for further development (subject to the necessary consents
- All in all a lucrative investment opportunity, and a very worthwhile addition to any portfolio
- AUCTION PROCESS
Description
This is a unique investment opportunity in Southsea, Portsmouth, consisting of a mixed-use property with a commercial unit and four self-contained residential flats. The property is situated on Highland Road, a popular location near the seafront, and offers a gross annual yield of around 10%. The commercial unit, previously occupied by a cafe/bar/bistro, is currently vacant and has a floor area of approximately 294 square meters. The residential flats, all let on Assured Shorthold Tenancies, produce a combined income of £35,520 per annum. The property also has a basement area with potential for further development, subject to necessary consents. With a guide price of £600,000-£650,000, this is a lucrative investment opportunity for those looking to add to their portfolio.