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Land for sale
Campbell Mansions, Campbell Road, Southsea, PO5 1RP
£50,000
Campbell Mansions, Campbell Road, Southsea, PO5 1RP
£50,000
Our Summary
- LOT 41 **FOR SALE BY ONLINE AUCTION** on 1st July 2025 In Same Ownership for Approximately 48 Years Freehold Ground Rents and Roof Space with Planning Permission Granted for Two Flats Located at the junction with Lorne Road, close to the amenities available in Portsmouth City Centre and travelling facilities including Fratton and Portsmouth & Southsea Train Stations
- Planning Consent has been granted on 15th March 2023 under Appeal for the Construction of a Third Floor Roof Extension Providing Two Additional Two Bedroom Flats each of approximately 768 Sq Ft
- (Planning Reference: APP/Z1775/W/22/3292145)
- They are not necessarily figures which a property will sell for and may change at any time prior to the auction
- Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide
- Guide prices will be continually updated on our website up until the day of the auction
Description
This property, Lot 41, is a freehold building located at the junction of Lorne Road and Portsmouth City Centre, with a rich history of being in the same ownership for approximately 48 years. The property features planning permission granted for the construction of a third-floor roof extension, providing two additional two-bedroom flats. The building also generates a significant income from 15 self-contained flats, each with a lease that expires at a peppercorn ground rent or a ground rent of £60 per annum, with valuable reversion in approximately 78 years. The property is being sold by online auction on July 1st, 2025, with a guide price range and a reserve price set by the seller. Buyers will need to pay a buyer's fee to McHugh & Co, and may also be subject to additional fees payable upon completion.