CHARTED SURVEYORS AUCTIONEERS ESTATE AGENTS VALUERS

Auction Guide Price £90,000 - Available

Malvern Road, Hampshire

1 bedroom - Flat
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Description

TO BE SOLD BY PUBLIC AUCTION THURSDAY 26th SEPTEMBER 2019.GUIDE PRICE: �90,000-�95,000.OF INTEREST TO INVESTORS AND OTHERS: very keenly guided to reflect the NEED FOR REFURBISHMENT together with SHORT LEASE, this purpose-built ONE BEDROOM REAR FIRST FLOOR APARTMENT enjoys an exceptionally convenient location close to SOUTHSEA TOWN CENTRE whilst benefitting also from ALLOCATED CAR SPACE, balcony, gas fired central heating, and secure entry.Dating from the 1960s, ''Marlboro House'' is a four-storey residential development standing on the east side of Malvern Road which, in turn, lies to the south of Clarendon Road. This position is a level walk of just a few minutes from Palmerston Road Shopping Precinct and places a wide range of public amenities within a radius of some one mile only, including: Southsea Common and The Seafront with their leisure and recreation facilities, historic Old Portsmouth, main-line stations, schools, and Portsmouth University campus.

Let until recently, Flat 12 itself now requires a program of modernisation with potential thereafter for a rental return of around �8,000 p.a. - equivalent to a yield of some 7.5% (allowing for works). An excellent small addition to an investment portfolio, or an ideal second home for an owner-occupier. Full particulars are as follows:


Pair of main outer doors, with SECURITY ENTRY SYSTEM, to:

COMMON LOBBY
Fire exit. Stairs to upper floors.

FLAT 12

ENTRANCE HALL
Security intercom telephone. Two built-in storage cupboards.

BATHROOM & W.C.
White suite comprising: panelled bath with mixer tap and shower attachment, handbasin, and low flush w.c. Single panel radiator. Obscure-glass window.

KITCHEN 8'10 x 6'2
Window to side elevation. Fitted and equipped with: base and wall cupboards, work surfaces,1£ bowl acrylic inset sink with mixer tap, electric oven, and 4-ring gas hob with extractor canopy. Single panel radiator. 'Britony' gas fired central heating and hot water combination boiler.

BEDROOM 16'4 x 8'7
Window to rear elevation. Single panel radiator.

LIVING ROOM 16'3 x 11'9
Window to rear elevation. 2 single panel radiators. Glazed door to:

BALCONY
Railed balustrade.

OUTSIDE
ALLOCATED CAR SPACE.

GENERAL INFORMATION
Tenure: 99 years Leasehold from 1965 (45 years remaining).
Maintenance Charge: £825 p.a.
Ground Rent: £10.50 p.a.
Council Tax: £1,110.57 p.a. (2019/20)

VIEWING
By appointment with AUCTIONEERS,
D. M. NESBIT & CO.
(17194/024052)


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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