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Mixed use for sale
85 Elm Grove, Southsea, Hampshire
£550,000
85 Elm Grove, Southsea, Hampshire
£550,000
Our Summary
- In the future, there is scope for this space to revert to residential accommodation if no longer required as part of the commercial arrangement and subject to all required consents being available, with the potential for an increase in overall rental income
- Residential EPC: CCommercial EPC: EImportant:All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers
Description
This Victorian building in central Southsea offers a commercial investment opportunity on the ground floor, let under a commercial lease, with three self-contained residential flats above, each let on Assured Shorthold Tenancy agreements. The ground floor has a main restaurant area, kitchen, and storage space, while the lower ground floor was previously a residential flat but is currently used as storage. The three residential flats above have a total of five bedrooms, four bathrooms, and kitchen and living areas. The property has a prominent position for hospitality businesses and is close to the seafront. The commercial space has a potential for an increase in rental income if the lower ground floor is converted back into residential accommodation. The property has an EPC rating of E for the commercial space and C for the residential flats, with council tax band A.