Lot 19

FREEHOLD MIXED INVESTMENT COMPRISING A SHOP AND THREE FLATS

97 Elm Grove, Southsea, Hampshire, PO5 1LH
Guide Price £350,000+ * + Fees

Currently let at £32,120 per annum

Viewing by arrangement with Clive Emson Auctioneers

This four storey freehold building is situated at the junction of Elm Grove and Victoria Road North/South and is at present configured as a ground floor commercial unit with use of the basement, while to the rear on the ground floor there is a one bedroom flat with two larger flats situated on the first and second floors.

The property is let producing a very healthy income and considered ideal for addition to an income-producing portfolio.

Commercial

Ground Floor

Main shop/retail area, cloakroom with W.C. and basement/cellar used for additional storage.

Tenancy

Occupied under the terms of a recently renewed 3 year lease from 1st August 2021, with the previous 3 year lease expiring on 31st July 2021. The rent will continue to be £8,000 per annum.

Residential

Ground Floor Flat

Living room/kitchen, bedroom, bathroom with W.C.

Tenancy

Let under the terms of an Assured Shorthold Tenancy for a term of 12 months from 16th July 2020 at a current rent of £6,120 per annum.

First Floor Flat

Entrance hall, living room, kitchen, bedroom and shower room, second bedroom accessed via the communal hallway with en-suite shower room.

Tenancy

Let under the terms of an Assured Shorthold Tenancy for a term of 6 months from February 2021 at a current rent of £9,000 per annum.

Second Floor Flat

Entrance hall, living room, kitchen, bedroom and shower room, second bedroom accessed via the communal hallway with en-suite shower room.

Tenancy

Let under the terms of an Assured Shorthold Tenancy for a term of 6 months from March 2021 at a current rent of £9,000 per annum.

Outside

Courtyard to the rear.

97 Elm Grove, Southsea, Hampshire
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Important

All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on Auction Day.

* Price Information

Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction).

We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.

Additional Fees

An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer.

All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to cliveemson.co.uk/buyers-fees/