Description
TO BE SOLD BY PUBLIC AUCTION AT A DATE TO BE CONFIRMED.
(UNLESS SOLD PREVIOUSLY).
GUIDE PRICE: £115,000-£120,000.
OF INTEREST TO INVESTORS ONLY - we invite immediate CASH OFFERS, prior to possible Public Auction, for this very conveniently situated TWO DOUBLE BEDROOM UPPER MAISONETTE currently LET on an Assured Shorthold Tenancy at £800 p.c.m. (this rent as from 6th December 2023), equivalent to a gross yield of around 8% p.a. Keenly guided by motivated seller and to reflect short remaining lease term. A prominent and varied mixed commercial/residential thoroughfare, Albert Road runs from Victoria Road South to Highland Road, No. 50 being on the south side a short distance from the junction with Duncan Road. This position is a little over a quarter of a mile from Southsea Town Centre (Palmerston Road Shopping Precinct) and convenient to a wide range of public amenities. Above ground floor commercial premises, the apartment itself comprises the upper two floors of a three-storey, late-Victorian inner-terrace building having brick elevations under a pitched and tiled main roof. It is LET on an Assured Shorthold Tenancy, commencing January 2021, and now running month to month. This opportunity is considered a worthwhile, keenly priced addition to an investment portfolio. Full particulars are given as follows:
Private entrance at front of building, with panelled door to
HALLWAY
Gas meter. Stairs to:
FIRST FLOOR
LANDING
Textured Artex ceiling. Single panel radiator.
BATHROOM & W.C. - 2.77m x 2.06m (9'1" x 6'9")
Coloured suite comprising: low flush w.c., pedestal handbasin, and panelled bath with mixer tap and shower attachment. Extractor. Single panel radiator. Textured Artex ceiling.
KITCHEN/BREAKFAST ROOM - 4.98m x 2.31m (16'4" x 7'7")
Fitted and equipped with: base and wall cupboards, work surfaces, breakfast bar, single drainer stainless steel inset sink with mixer tap, electric oven, and 4-ring ceramic hob. Plumbing for washing machine. 'Ideal' gas fired central heating and hot water boiler. Single panel radiator. Window to rear elevation. Textured Artex ceiling.
INNER HALL
Stairs to Top Floor.
BEDROOM ONE - 4.24m x 3.66m (13'11" x 12'0")
Splay bay window to front elevation. Period-style fireplace. Single panel radiator.
TOP (SECOND) FLOOR
LANDING
Textured Artex ceiling with access to Loft Space. UPVC replacement double-glazed window to rear elevation.
BEDROOM TWO - 4.37m x 3.61m (14'4" x 11'10")
Window to front elevation. Period fireplace. Built-in cupboard. Double panel radiator.
LIVING ROOM - 3.07m x 2.41m (10'1" x 7'11")
Textured Artex ceiling. UPVC replacement double-glazed window to rear elevation. Two built-in cupboards. Single panel radiator.
GENERAL INFORMATION
TENURE: 99 years leasehold from 23.06.1992 (68 years remaining).
SERVICE CHARGE: 60% of building outgoings.
GROUND RENT: £90 p.a.
COUNCIL TAX: Band 'B' - £1540.59 per annum (2023-24).
EPC 'C'
VIEWING
By appointment with AUCTIONEERS,
D. M. NESBIT & CO.
(17774/048296)
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).