Description

TO BE SOLD BY PUBLIC AUCTION (unless sold previously).
GUIDE PRICE:  £110,000-£120,000
OF INTEREST TO INVESTORS ONLY:  in advance of Public Auction we invite CASH OFFERS NOW for this well-situated, purpose-built TWO BEDROOM FIRST FLOOR FLAT with residents' parking, electric central heating, double-glazing, equipped kitchen, balcony, and lift service; currently LET at £800 p.c.m. - equivalent to a gross annual yield (at minimum Guide) of 9.6%.  Positioned upon the south-east peninsular of Portsea Island, Fort Cumberland Road runs from Henderson Road to the foreshore of Langstone Harbour, the open beach being less than a quarter of a mile to the south, and Southsea Town Centre a little over two miles away. Part of a wider ex-MOD housing estate, Flat 28a is within a four-storey, mid-2000s' addition to an older (1960s) development, the building having rendered elevations under a pitched and tiled roof.  The apartment is LET on a Periodic Assured Shorthold Tenancy at a current rent of £800 p.c.m. (with scope for future uplift).  This opportunity is considered to be a modestly guided, lucrative addition to any investment portfolio and full particulars are given as follows:

MAIN ENTRANCE

Glazed door, with SECURITY ENTRY SYSTEM, to:

COMMUNAL LOBBY

Lift and stairs to upper floors.

FIRST FLOOR INNER LANDING

With access to 28a and 30a.

28a

ENTRANCE HALL

3 recessed ceiling spotlights. Built-in cupboard housing circuit breakers and electric hot water/central heating system.

BATHROOM & W.C.

Contemporary white suite comprising:  panelled bath with mixer tap plus independent shower mixer, pedestal handbasin with mixer tap, and low flush w.c. Tiled floor. Part-tiled walls. Single panel radiator. 4 recessed ceiling spotlights.

BEDROOM ONE - 4.62m x 4.29m (15'2" x 14'1")

An 'L'-shaped room. Virtually full-width UPVC double-glazed picture window to rear elevation. Single panel radiator.

BEDROOM TWO - 3.15m x 2.24m (10'4" x 7'4")

UPVC double-glazed window to rear elevation. Single panel radiator.

LIVING ROOM - 5.08m x 3.56m (16'8" x 11'8")

9 recessed ceiling spotlights. Single panel radiator. Doorway to kitchen. UPVC double-glazed window to rear elevation; adjacent similar door to:

SUN BALCONY

Decked floor, railed balustrade.

KITCHEN - 2.51m x 2.06m (8'3" x 6'9")

Fitted and equipped with:  base and wall cupboards, works surfaces with tiled surround, single drainer stainless steel sink with mixer tap, electric oven, and 4-ring ceramic hob with extractor canopy. Plumbing for washing machine. Space for upright 'fridge/freezer.

OUTSIDE

Communal gardens front and rear. Residents' parking (non-allocated).

GENERAL INFORMATION

Tenure:  125 years leasehold from September 2005 (107 years remaining).
Service Charge:  £530 per quarter.
Ground Rent:  £200 per annum.
Council Tax:  Band 'A' - £1,383.64 per annum (2024-25).

EPC 'C'

VIEWING

By arrangement with AUCTIONEERS,
D. M. NESBIT & CO.
(17731/044284)

ADDITIONAL AUCTION COSTS

A Buyer's Premium of £450 + V.A.T., 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 Solicitors and available for inspection by interested parties. Those intending to bid are advised to make themselves aware of the content of the Legal Pack, containing, as it will, information in respect of any other charges that may apply (Search Fees and/or Seller's legal costs for example).