Auction Guide Price £165,000 - Available

Craneswater Park, Hampshire

2 bedroom - Flat

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TO BE SOLD BY PUBLIC AUCTION AT A DATE TO BE CONFIRMED.(unless sold previously)GUIDE PRICE £165,000-£175,000.Of interest to investors and keen owner-occupiers: CASH OFFERS are invited now for this very well-situated TWO BEDROOM PURPOSE-BUILT FIRST FLOOR FLAT with allocated car space, lift service, replacement double-glazing, and secure entry; GUIDED TO REFLECT A SHORT LEASE AND THE NEED FOR REFURBISHMENT. The apartment is positioned at the rear of a six-storey development, circa 1971, standing on the east side of Craneswater Park, a short distance from its junction with St Helens Parade. This highly sought-after residential address is moments only from The Canoe Lake and Seafront, and some three-quarters of a mile from Southsea Town Centre (Palmerston Road Shopping Precinct). Flat 7 has been the subject of meaningful and relatively recent improvement, including the provision of replacement double-glazing and the re-fitting of its kitchen and bathroom. However, the decor has been severely neglected and now requires attention throughout, as does the room heating system (ideally, with existing night storage heaters being replaced by gas fired radiators).

Once refurbishment is complete, the property is considered ideal for owner-occupation or lucrative letting (with a projected yield of around £900 p.c.m.). The apartment will be sold subject to the existing lease terms, namely with 49 years remaining. No action will be taken by the Executor seller in respect of an extension, it being entirely a matter for the buyer to pursue this line following the required period of ownership. Full details of this opportunity are given as follows:

Canopied approach to recessed entrance porch having glazed main door, with SECURITY ENTRY SYSTEM, to:

Lift and stairs to upper floors.


RECEPTION HALL 12'11 x 7'11
Night storage radiator. Double built-in cloaks and storage cupboard. Built-in airing cupboard with lagged hot water tank. Built-in cupboard housing meters and circuit breakers. Security intercom telephone.

BATHROOM & W.C. 12'9 x 5'11
Replacement white suite comprising: panelled bath with 'Mira' independent shower unit, pedestal handbasin, and low flush w.c. Part-tiled walls. UPVC replacement obscure double-glazed window.

KITCHEN 10'6 x 6'7
Measurements exclude door recess. Range of modern base and wall cupboards, woodblock-effect work surfaces with matching up-stand, single drainer enamel sink unit with mixer tap. Plumbing for washing machine. Gas cooker point. UPVC replacement double-glazed window to side (north) elevation.

BEDROOM ONE 14'5 x 9'11
Coved ceiling. UPVC replacement double-glazed window to rear (east) elevation. Double built-in wardrobe and storage cupboard. Night storage radiator.

BEDROOM TWO 11'10 x 7'11
Coved ceiling. UPVC replacement double-glazed window to rear (east) elevation. Double built-in wardrobe and storage cupboard. Night storage radiator.

LIVING ROOM 15'3 x 13'11
Coved, textured Artex ceiling. Square bay window to rear (east) elevation having UPVC replacement double-glazing. Night storage radiator. Contemporary electric fire surround.

ALLOCATED CAR SPACE at rear of building.

Tenure: 99 years from 29th September 1971 (49 years remaining).
Maintenance Charge: £1,850 p.a.
Ground Rent: £150 p.a.

Band 'C' - £1,619.34 per annum (2021-2022)


By appointment with AUCTIONEERS,

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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

Hannah Prichard - Sales Negotiator

Jackie Evans - Sales Negotiator

Alison Weeden - Secretary


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