Lot 173 Freehold Building Arranged As Four Flats For InvestmentAuction Date:
20th September 2023
209 London Road, North End, Portsmouth, PO2 9AJ
Three flats currently let at £22,100 per annum, plus vacant flat
Previously fully let at £29,900 per annum
This imposing four storey freehold building is situated a short distance from the centre of North End with all its shopping and other amenities and with the Rudmore roundabout and motorway connections only slightly further afield.
The building is arranged as four flats with three of the four let under the terms of Assured Shorthold Tenancy Agreements, and producing a very worthwhile income. A fourth flat on the top floor is, at present, vacant and awaiting a new tenant.
The property is considered ideal for addition to an income-producing letting portfolio.
209A London Road
Lower Ground Floor Flat
Entrance hall, living room, kitchen, bedroom and bathroom with W.C.
Tenancy
Let under the terms of an Assured Shorthold Tenancy at a current rental of £150 per week.
209B London Road
Upper Ground Floor Flat
Entrance hall, living room, kitchen, bedroom and bathroom with W.C.
Tenancy
Let under the terms of an Assured Shorthold Tenancy at a current rental of £150 per week.
209C London Road
First Floor Flat
Entrance hall, living room/kitchen, bedroom and bathroom with W.C.
Tenancy
Let under the terms of an Assured Shorthold Tenancy at a current rental of £125 per week.
209D London Road
Second Floor Flat
Entrance hall, living room/kitchen, bedroom and bathroom with W.C.
Tenancy
Currently vacant, but previously let at a rental of £150 per week.
Outside
Small courtyard to front and enclosed garden to rear.
Each Flat Council Tax Band A
Freehold with Part Vacant Possession
Auctioneers Note
We have become aware of the presence of Japanese Knotweed, a copy of the treatment plan is included in the legal pack.
There is an addendum available to be read
in conjunction with the legal documentation.
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
