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1 bedroom terraced house for sale
Palmerston Road, Southsea PO5 3PR
£295,000
Palmerston Road, Southsea PO5 3PR
£295,000
Our Summary
- OFFERS INVITED PRIOR TO PUBLIC AUCTION
- We invite IMMEDIATE CASH OFFERS (on strict Auction terms) for this EXCELLENT AND LUCRATIVE MIXED COMMERCIAL/RESIDENTIAL INVESTMENT, currently let and producing a combined income of £26,700 p
- Full particulars of this desirable and valuable investment opportunity are given as follows and early enquiry is invited:
- ADDITIONAL AUCTION COSTS
- , will be payable by the purchaser to the Auctioneers, either in the Saleroom or, if the Lot is sold prior to Auction, at the offices of Nesbit & Co
- An Auction Legal Pack (including Contract of Sale and Special Conditions) will be prepared by the Seller's
Description
This mixed commercial and residential investment property is a late-Victorian, inner-terrace character property with a combined income of £26,700 per annum, equivalent to a gross yield of 9.25%. The property is currently let and has a shop on the ground floor and a flat on the first floor. The shop is let for 5 years at £15,600 per annum, and the flat is let on an Assured Shorthold Tenancy at £11,100 per annum. The property has a prime location in a historic and sought-after Conservation Area, with a wide range of public amenities within comfortable reach. The property is being sold with a guide price of £280,000-£295,000 and is being offered for sale prior to public auction.