Description
TO BE SOLD BY PUBLIC AUCTION AT A DATE TO BE CONFIRMED.
(UNLESS SOLD PREVIOUSLY).
GUIDE PRICE: £190,000-£210,000.
We invite IMMEDIATE CASH OFFERS, prior to possible Public Auction, for this well-situated MIXED COMMERCIAL/RESIDENTIAL INVESTMENT comprising a VACANT ONE BEDROOM UPPER FLAT together with SHOP AND LIVING ACCOMMODATION LET CURRENTLY. Potential return of around £16,800 p.a., equivalent to a yield of 8.25% p.a. at mid-guide. A prominent secondary trading area, Kingston Road runs from Fratton Road to London Road, No. 176 being on the east side a short distance from the junction with Queens Road and adjacent Buckland United Reform Church. This position is convenient to a wide range of public amenities. At the end of a terrace of broadly similar properties, No. 176 features rendered elevations under a pitched and tiled recently renovated main roof. To the rear is an attractive and surprisingly generous garden some 60ft in length. Considered a worthwhile addition to an investment portfolio, and holding good future potential, full details of this opportunity are given as follows:
SHOP & ACCOMMODATION
Trading as Busy Bee Tailoring and Alterations, the ground floor is LET at a current rent of £650 p.c.m., the original tenancy being for a fixed term of 5 years from 2012 and now holding over on a month to month basis. This portion of the building comprises:
Shop - 5.54m x 4.11m (18'2" x 13'6")
Glazed shop front, part-glazed entrance door. Two radiators. Door to:
Inner Hall
Fitted storage cupboard.
Bedroom - 3.2m x 2.57m (10'6" x 8'5")
Radiator.
Living Area - 4.42m x 1.83m (14'6" x 6'0")
Plus 19'0 (5.79m) x 5'3 (1.60m) Two radiators. 'Ideal' gas fired central heating and hot water boiler. Part-glazed door to rear garden.
Kitchen - 3.45m x 2.64m (11'4" x 8'8")
Fitted base and wall cupboards, work surfaces with tiled surround, inset single drainer stainless steel sink unit with mixer tap.
Bathroom & W.C. - 2.74m x 1.96m (9'0" x 6'5")
White suite comprising: panelled bath with mixer tap and shower attachment, pedestal handbasin, and low flush w.c. UPVC replacement double-glazed window to rear elevation. Radiator. Tiled floor.
Commerical EPC 'C'
FIRST FLOOR FLAT
This self-contained apartment, with its own private entrance via the front of the building, is VACANT. It affords:
Ground Floor
Newly-installed UPVC front door to:
Lobby
Having stairs to:
First Floor Landing
Textured Artex ceiling with access to Loft Space.
Living Room - 3.63m x 3.12m (11'11" x 10'3")
Textured Artex ceiling. UPVC replacement double-glazed window to front elevation. Night storage radiator. Recess with electricity meter and circuit breakers.
Bedroom - 3.28m x 3.2m (10'9" x 10'6")
Textured Artex ceiling. UPVC replacement double-glazed window to rear elevation.
Bathroom & W.C.
White suite comprising: panelled bath, pedestal handbasin, and low flush w.c. Obscure-glass window. Textured Artex ceiling.
Kitchen - 3.51m x 2.54m (11'6" x 8'4")
Fitted and equipped with: base and wall cupboards, work surfaces with tiled surround. Single drainer stainless steel sink unit with mixer tap, electric oven, and 4-ring gas hob having extractor canopy. Plumbing for washing machine. Night storage radiator. UPVC replacement double-glazed window to rear elevation. Textured Artex ceiling.
EPC 'F'
COUNCIL TAX
Band 'A' - £1,383.64 per annum (2024-25).
OUTSIDE
REAR: (for use of Shop tenant).
Depth: 60'0 (18.29m) Width: 14'8 (4.47m) Generous walled and fenced garden with easterly aspect.
VIEWING
By appointment with AUCTIONEERS,
D. M. NESBIT & CO.
(17815/048310)
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).