Lot 79 Freehold Former Public House Arranged As Nine Flats For Investment Close To Portsmouth UniversityAuction Date:
5th May 2022
Quinnell Court, 2 Kent Street, Portsmouth, PO1 3BS
Currently let at £51,000 per annum
This freehold former public house is situated very close to the main campus buildings of Portsmouth University. Originally constructed as The Still public house, the building has in more recent times been converted into nine self-contained flats being a mix of studio and one-bedroom units.
All flats are at present let under the terms of either six or twelve month Assured Shorthold Tenancy Agreements producing a very worthwhile income and it is considered that the building is ideal for addition to an income-producing letting portfolio.
In addition to its proximity to the main university campus, the building has the advantage of being situated a short walk/drive away from mainline rail connections at either Portsmouth Harbour or Portsmouth & Southsea and from the popular Gunwharf Quays development.
Ground Floor
Flat 1
Studio with open plan bedroom/kitchen/living space and bathroom with W.C.
Tenancy
Let on an Assured Shorthold Tenancy from 27th November 2020 at a current rental of £450 per calendar month.
Flat 2
Studio with open plan bedroom/kitchen/living space and bathroom with W.C.
Tenancy
Let on an Assured Shorthold Tenancy from 1st January 2022 to 31st December 2023 at a current rental of £480 per calendar month.
Flat 3
Living room/kitchen, bedroom and bathroom with W.C.
Tenancy
Let on an Assured Shorthold Tenancy from 19th August 2021 to 18th August 2022 at a current rental of £480 per calendar month.
First Floor
Flat 4
Living room/kitchen, bedroom and bathroom with W.C.
Tenancy
Let on an Assured Shorthold Tenancy from 1st July 2021 to 30th June 2022 at a current rental of £500 per calendar month.
Flat 5
Living room/kitchen, bedroom and bathroom with W.C.
Tenancy
Let on an Assured Shorthold Tenancy from 17th January 2018 at a current rental of £480 per calendar month.
Flat 6
Living room/kitchen, bedroom and bathroom with W.C.
Tenancy
Let on an Assured Shorthold Tenancy from 1st September 2020 at a current rental of £480 per calendar month.
Second Floor
Flat 7
Studio with open plan bedroom/kitchen/living space and bathroom with W.C.
Tenancy
Let on an Assured Shorthold Tenancy from 1st April 2021 to 1st April 2022 at a current rental of £450 per calendar month.
Flat 8
Studio with open plan bedroom/kitchen/living space and bathroom with W.C.
Tenancy
Let on an Assured Shorthold Tenancy from 6th September 2021 to 6th September 2022 at a current rental of £480 per calendar month.
Flat 9
Studio with open plan bedroom/kitchen/living space and bathroom with W.C.
Tenancy
Let on an Assured Shorthold Tenancy from 8th May 2021 to 7th May 2022 at a current rental of £450 per calendar month.
Ground Floor
Communal facilities of cycle and bin store. No outside space.
All Flats 1 to 9 Council Tax Band A
There is an addendum available to be read
in conjunction with the legal documentation.
Joint Agents
Eves Commercial
01932 856542
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 Buyers Fees
