Description
TO BE SOLD BY PUBLIC AUCTION AT A DATE TO BE CONFIRMED
(UNLESS SOLD PREVIOUSLY).
GUIDE PRICE: £265,000-£275,000.
We invite IMMEDIATE CASH OFFERS, prior to possible Public Auction, for this highly lucrative INVESTMENT opportunity, being a very conveniently situated FIVE BEDROOM HOUSE WITH C3/C4 (HMO) PLANNING CONSENT, let currently to student sharers at £1,900 p.c.m. excluding all bills, equivalent to a GROSS YIELD (at mid-guide) OF 8.5% P.A. APPROX. Selbourne Terrace runs between the main Fratton Road and Claremont Road, a little to the west of Fratton Station, bordering the railway line itself and desirably close for commuters. Some one mile from Southsea Town Centre, and a similar distance from The Seafront, this position places a wide range of public amenities within comfortable reach. A four-storey property (including loft conversion), No. 4 itself forms part of a varied terrace and is of flat-fronted design with rendered and tile-hung facade under a pitched and tiled roof having square dormer. To the rear is an enclosed patio garden with cycle store and pedestrian access. The property is LET until the 31st July 2024 on an Assured Shorthold Tenancy to five occupants at a rent of £1,900 p.c.m. excluding bills, with a projected uplift to £2,000 p.c.m. for the forthcoming year. Available now at an attractive and competitive Guide Price and having held a full HMO Licence for our client's 8 years of ownership, this opportunity is seen as a very worthwhile addition to an investment portfolio. Full details are given as follows:
UPVC front door to:
ENTRANCE HALL
Coved ceiling. Wood-laminate flooring. Stairs to upper and lower floors. Steps down to rear hall having UPVC and double-glazed door to garden.
FRONT ROOM - 3.07m x 3m (10'1" x 9'10")
Coved ceiling. Wood-laminate flooring. UPVC replacement double-glazed window to front elevation. Double panel radiator.
REAR ROOM - 3.07m x 2.95m (10'1" x 9'8")
Wood-laminate flooring. UPVC replacement double-glazed window to rear elevation. Recently-installed "Vaillant" gas fired central heating and hot water boiler.
FIRST FLOOR
LANDING
FRONT ROOM - 3.61m x 3.2m (11'10" x 10'6")
UPVC replacement double-glazed window to front elevation. Single panel radiator. Pair of built-in wardrobes.
REAR ROOM - 2.95m x 2.51m (9'8" x 8'3")
UPVC replacement double-glazed window to rear elevation. Single panel radiator.
SHOWER ROOM & W.C.
White suite comprising: pedestal handbasin, low flush w.c., and large-capacity shower cubicle. Single panel radiator. UPVC replacement double-glazed window to rear elevation.
TOP (SECOND) FLOOR
ROOM FIVE - 4.22m x 4.83m (13'10" x 15'10")
Measurements include stairwell. Square dormer window to front elevation having UPVC replacement double-glazing. Double panel radiator.
BASEMENT
LIVING ROOM - 4.85m x 3.91m (15'11" x 12'10")
9 recessed ceiling spotlights. Opening to pavement "well". Cupboards housing gas and electricity meters. Door to:
CLOAKROOM & W.C.
White suite comprising: pedestal handbasin and 'Saniflow' low flush w.c.
KITCHEN - 3.63m x 2.84m (11'11" x 9'4")
Good range of fitted base cupboards, work surfaces with tiled surround, 1½ bowl stainless steel inset sink with mixer tap; incorporating electric oven and 5-ring gas hob. Plumbing for washing machine. UPVC replacement double-glazed window to rear elevation.
OUTSIDE
REAR: Depth: 23'6 (7.16m) Width: 13'7 (4.14m) Patio garden laid to paving with walled and fenced surround. Bike store. Shed. Rear pedestrian gate.
COUNCIL TAX
Band 'B' - £1540.59 per annum (2023-24).
EPC 'C'
VIEWING
By appointment with SOLE AGENTS & AUCTIONEERS,
D. M. NESBIT & CO.
(17844/048325)
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).