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12 bedroom flat for sale
Southsea Terrace, Southsea PO5 3AU
£1,500,000
Southsea Terrace, Southsea PO5 3AU
£1,500,000
Our Summary
- TO BE SOLD BY AUCTION METHOD
- We invite IMMEDIATE CASH OFFERS (on Strict Auction Terms*) from developers and investors for this unique opportunity with immense potential: enjoying a PRIME SEAFRONT LOCATION, this post-war, purpose-built residential development comprises SIX LARGE 2 & 3 BEDROOM APARTMENTS PLUS THREE GARAGES AND OPEN PARKING; available now as a Freehold with FULL VACANT POSSESSION
- ), plus income from the garages, the building offers scope for a gross yield of some 7% p
- As an alternative to continued lucrative letting, it is felt that refurbishment and disposal of individual apartments is an option, with further potential (subject to the necessary consents) for future site development - perhaps of the garage block, also through the addition of a rooftop penthouse
- Full particulars are given as follows and early approaches from Auction-ready buyers are invited:
- *AUCTION PROCESS
Description
This is a unique opportunity to purchase a six-storey, post-war residential development in a prime seafront location in Southsea, Portsmouth. The property, known as Castleton Court, comprises six large 2 and 3-bedroom apartments, three garages, and open parking. The building is situated in a Conservation Area and offers stunning views of the Solent and the Isle of Wight. The apartments have been let in the past, but the property is now being sold as a freehold with full vacant possession. The guide price is £1,500,000, and the auction is open to immediate cash offers from developers and investors. The property has potential for refurbishment and disposal of individual apartments, as well as future site development, making it an attractive opportunity for those looking to capitalize on its prime location and potential for growth.