Flat for sale in Albert Road, Southsea PO5

To be sold by public auction at A date to be confirmed.
(unless sold previously).
Guide price: £115,000-£120,000.
We invite immediate cash offers, prior to possible Public Auction, for this well-situated vacant two bedroom upper maisonette; of interest to investors in particular, having a projected rental return of around £1,000 p.c.m. - equivalent to a lucrative gross yield of some 10% p.a.; keenly guided to reflect a short remaining lease term and the need for modest refurbishment. A prominent and varied commercial/residential thoroughfare, Albert Road runs from Victoria Road South to Highland Road, No. 50 being on the south side a short distance from the junction with Duncan Road. This exceptionally convenient position is a little over half a mile only from Southsea Seafront and places a wide range of public amenities within comfortable reach. Above shop premises, the apartment comprises the upper two floors of a three-storey, late-Victorian inner-terrace building having brick elevations under a pitched and tiled main roof. Previously let to two sharers, this opportunity is presented now in fair order and with the benefit of Vacant Possession. It is considered a very worthwhile, modestly priced addition to any investment portfolio, whilst also being suited to owner-occupation. Full particulars are given as follows:

Private entrance at front of building, with panelled door to

hallway

Gas meter. Stairs to:

First floor

landing

Textured Artex ceiling. Single panel radiator.

Bathroom & W.C. - 2.77m x 2.06m (9'1" x 6'9")

Coloured suite comprising: Low flush w.c., pedestal handbasin, and panelled bath with mixer tap and shower attachment. Extractor. Single panel radiator. Textured Artex ceiling.

Kitchen/breakfast room - 4.98m x 2.31m (16'4" x 7'7")

Fitted and equipped with: Base and wall cupboards, work surfaces, breakfast bar, single drainer stainless steel inset sink with mixer tap, electric oven, and 4-ring ceramic hob. Plumbing for washing machine. 'Ideal' gas fired central heating and hot water boiler. Single panel radiator. Window to rear elevation. Textured Artex ceiling.

Inner hall

Stairs to Top Floor.

Bedroom one - 4.24m x 3.66m (13'11" x 12'0")

Splay bay window to front elevation. Period-style fireplace. Single panel radiator.

Top (second) floor

landing

Textured Artex ceiling with access to Loft Space. UPVC replacement double-glazed window to rear elevation.

Bedroom two - 4.37m x 3.61m (14'4" x 11'10")

Window to front elevation. Period fireplace. Built-in cupboard. Double panel radiator.

Living room - 3.07m x 2.41m (10'1" x 7'11")

Textured Artex ceiling. UPVC replacement double-glazed window to rear elevation. Two built-in cupboards. Single panel radiator.

General information

tenure: 99 years leasehold from 23.06.1992 (67 years remaining).
Service charge: 60% of building outgoings.
Ground rent: £90 p.a.
Council tax: Band 'B' - £1,614.24 per annum (2024-25).

EPC 'C'

viewing

By appointment with auctioneers,
D. M. Nesbit & co.
(17774/048296)

additional auction costs

A Buyer's Premium of £450 + V.A.T., 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 Solicitors and available for inspection by interested parties. Those intending to bid are advised to make themselves aware of the content of the Legal Pack, containing, as it will, information in respect of any other charges that may apply (Search Fees and/or Seller's legal costs for example).