Lot 127: EIGHT TOWN CENTRE FLATS FOR INVESTMENT ON QUARTER ACRE PLOT WITH POTENTIAL

Sold £740,000

Arranged as two detached buildings, each containing four self-contained flats, this freehold corner site enjoys frontage on to Paxton Road and Avenue Road and extends to 0.11 hectares (0.28 acres). The site is situated a short walk from Fareham’s mainline railway station with its connections to Portsmouth, Southampton and London Waterloo.

The ground floor flats are all one-bedroom units, while the flats on the first/second floors have two bedrooms. All of the flats have previously been let, and are considered ideal for continued use in this guise, although some will now require some improvement prior to re-letting.

Alternatively, the buildings could be re-configured to form four semi-detached houses and a certificate of Lawful Use for development has been obtained for this purpose. As a further alternative, prospective purchasers may wish to consider full or partial site re-development with a particular eye on the large rear car park, subject to all the necessary consents being obtainable.

The existing application is under consideration by the Local Authority for the addition of front porches, tile hanging and roof lights.

Flats 34, 36, 42 & 44

Each flat comprises:-

Ground Floor

Entrance hall, shower room with W.C., living room, kitchen and bedroom.

Flats 32, 38, 40 & 46

Each flat comprises:-

First Floor

Landing, living room, kitchen, bedroom and bathroom.

Second Floor

Bedroom.

Outside

Each flat has the benefit of a garden with a further large car parking area.

Planning

In respect of each pair of flats, a certificate of Lawful Use or Development has been granted by Fareham Borough Council under reference: P/17/1458/LP dated 20th December 2017 for use of two self-contained flats within the property as a single residential dwelling, subject to conditions.

A planning application has been submitted to Fareham Borough Council under application: P/18/1234/FP for addition of four front porches, tile hanging to first floor and gable end elevations and insertion of roof lights in rear roof elevations and this application has yet to be decided.

Local Planning Authority

Fareham Borough Council. Tel: 01329 236100. Website: fareham.gov.uk.

Freehold with Vacant Possession

Residential EPC: F