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8 bedroom detached house for sale
Victoria Road North, Southsea PO5 1QE
£600,000
Victoria Road North, Southsea PO5 1QE
£600,000
Our Summary
- TO BE SOLD BY PUBLIC AUCTION (at a date to be confirmed) UNLESS SOLD PREVIOUSLY
- We invite IMMEDIATE CASH OFFERS (on strict Auction terms) for this substantial and well-situated DETACHED HMO INVESTMENT PROPERTY arranged as TWO 4 EN-SUITE BEDROOM APARTMENTS, currently LET and producing £52,320 p
- PLANNING, ETC: Consent was granted in 1995 for conversion of the building (former offices) into two self-contained flats
- 104, of similar footprint, was granted approval for conversion into 5 one bedroom units last year
- Full particulars are given as follows and enquiries for this lucrative investment opportunity are invited:
- ADDITIONAL AUCTION EXPENSES
- , 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 substantial detached HMO investment property, located on Victoria Road North, is being sold by public auction unless sold previously. The property is arranged as two 4-bedroom en-suite apartments, currently let and producing £52,320 per annum, equivalent to a yield of around 9.1%. The property has a prominent position on the east side of the road, diagonally opposite the junction with Montgomerie Road, and is just one mile from Southsea Town Centre and the seafront. The property has a rich history, with consent granted in 1995 for conversion into two self-contained flats and again in 2011 for change of use to HMO. The property has been well-maintained and has a generous garden with side access. The current tenants have a lease until 30th June 2026. The property is being sold with a guide price of £550,000-£600,000 and is open to immediate cash offers on strict auction terms.