CHARTERED SURVEYORS AUCTIONEERS ESTATE AGENTS VALUERS

Auction Guide Price £230,000 - Available

Fawcett Road, Hampshire

3 bedroom - Terraced
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Description

TO BE SOLD BY PUBLIC AUCTION THURSDAY 21st NOVEMBER 2019. GUIDE PRICE: £230,000-£250,000. OF INTEREST TO INVESTORS ONLY: the MIXED COMMERCIAL/RESIDENTIAL INVESTMENT comprising SHOP AND TWO SELF-CONTAINED FLATS. All currently LET and producing £24,000 P.A. gross - equivalent to a YIELD OF 10% approx. A prominent secondary trading area, as well as a convenient residential location, Fawcett Road runs from Fratton Bridge to Albert Road, No. 62 being on the west side a short distance from the junction with Rugby Road. This position is some one mile only from Southsea Town Centre and The Seafront. This inner-terrace property, circa 1900, has brick elevations under a modern tiled roof, its facade incorporating glazed shop front and upper splay bay window. To the rear is a small enclosed yard which grants access to the two apartments.

SHOP: Let on Licence at £775 p.c.m. (to include bills). Trading as Top Design Barbers, in occupation for some six years. GROUND FLOOR FLAT: Let on an Assured Shorthold Tenancy at £600 p.c.m. from December 2018. FIRST FLOOR FLAT: Let on an Assured Shorthold Tenancy at £625 p.c.m., the tenant being in occupation for some ten years. With a gross yield of around 10% p.a., this opportunity is considered a worthwhile addition to any investment portfolio. Full particulars are as follows:

SHOP

MAIN ROOM 24'0 x 14'0
With Kitchenette and Cloakroom & W.C. 336 sq ft approx overall.

GROUND FLOOR FLAT
Approached from rear of the building and via UPVC double-glazed door to:

LIVING ROOM/KITCHEN 21'10 x 9'4
UPVC replacement double-glazed windows to the rear and side. Night storage radiator. Incorporating fitted and equipped Kitchen Area with base and wall cupboards, work surfaces with tiled surround, single drainer stainless steel inset sink unit with mixer tap, electric oven, and 4-ring gas hob. Plumbing for washing machine. Through to:

BATHROOM & W.C.
White suite comprising: panelled bath with independent shower mixer, pedestal handbasin, and low flush w.c. Extractor. UPVC replacement double-glazed window.

BEDROOM 8'11 x 9'6
UPVC replacement double-glazed window. Night storage radiator. Walk-in storage cupboard housing electric boiler.

FIRST FLOOR FLAT
Also approached from rear of building, with private door to:

GROUND FLOOR LOBBY
Stairs to first floor.

FIRST FLOOR
LANDING: Access to Loft Space. UPVC replacement double-glazed window to side elevation. Single panel radiator.

LIVING ROOM 15'1 x 14'2
Splay bay window to front elevation with UPVC replacement double-glazing. Double panel radiator.

BEDROOM ONE 12'0 x 10'3
UPVC replacement double-glazed window to rear elevation. Single panel radiator.

BATHROOM & W.C.
White suite comprising: panelled bath with mixer tap and shower attachment, handbasin, and low flush w.c. Extractor. UPVC replacement obscure double-glazed window.

KITCHEN 8'6 x 9'3
Fitted base and wall cupboards, work surfaces with tiled surround, single drainer stainless steel inset sink unit with mixer tap, electric oven, and 4-ring gas hob. Plumbing for washing machine. 'Ariston' gas fired central heating and hot water boiler. UPVC replacement obscure double-glazed window to side elevation. Through to:

BEDROOM TWO/RECEPTION ROOM 9'6 x 9'3
UPVC replacement double-glazed window to rear elevation. Single panel radiator.

COUNCIL TAX
GROUND FLOOR & FIRST FLOOR FLATS - Band 'A' - £1,110.57 p.a. (2019/20)

OUTSIDE
REAR: Small enclosed yard.

VIEWING
By appointment with AUCTIONEERS,
D. M. NESBIT & CO.
(17191/024070)


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Key Contacts

Southsea Office

7 Clarendon Road, Southsea, Portsmouth
Hampshire PO5 2ED

Tel: 023 9286 4321

Robin Evans - Head of Residential Sales
robinevans@nesbits.co.uk

Kim Evans - Senior Negotiator
kimevans@nesbits.co.uk

Hannah Prichard - Sales Assistant
hannah@nesbits.co.uk

Jackie Evans - Sales Assistant
jackie@nesbits.co.uk

Alison Weeden - Secretary
alisonw@nesbits.co.uk

RICS

Nesbit properties are on rightmove