Property for sale in Herbert Road, Southsea PO4

Guide price £400,000
Property for sale - 8 bedrooms 8 2
Interested in this property? Call +44 23 9229 0099 * or Request Details

* Calls to this number will be recorded for quality, compliance and training purposes.

Property features

  • 8 bedroom licenced HMO
  • In excess of £42,200 net income
  • Let to professional tenants
  • Of interest to investors
  • In excess of 7% net return
  • Fantastic return
  • No chain
  • Tenants in situ
  • 2 en-suite rooms
  • Three shower rooms

Property description

Guide price £400,000 - £450,000. This eight bedroom property is being sold by modern auction

Currently returning circa £48,600.00 per annum Gross (at full occupancy), this substantial property is let to professional sharers on individual AST's.

After monthly expenditure, net income is in excess of £39,000 making this an attractive proposition for any investor.

Call now for more information and to arrange a viewing.

Communal Lounge

Kitchen

Utility Room

Bedroom One

Monthly Rental £550.00

Bedroom Two

En-Suite Room.
Monthly Rental £650.

Bedroom Three

En-Suite Room.
Monthly Rental £450.

Bedroom Four

Monthly Rental £450.

Bedroom Five

Monthly Rental £500.

Bedroom Six

Monthly Rental £500.

Bedroom Seven

Monthly Rental £450.

Bedroom Eight

Monthly Rental £500.

Kitchen

Shower Room

Shower Room

Shower Room

Further Information

The current HMO Licence allows for occupation of 8 individuals and was granted on the 16th of May 2018.

Please Note that Net and Gross returns are calculated at full, year round occupancy. Gross rental figures include bills. Net figures are calculated after monthly expenditure.

Council Tax Band: E - £2,226.59

This property is offered for sale by the ‘modern method of auction’ through an Online Auction. This is a modern twist on the traditional auction room sale where buyers can bid for the property via an online platform. The winning bidder, assuming the reserve is met, is granted exclusivity of the property at the winning bid price for 28 days in which they must exchange or the vendor is free to remarket the property and the reservation fee will not be returned. The auction will run for 3 hours on a set date and time chosen by the vendor of the property. Upon completion of a successful auction the winning bidder will be required to pay a non-refundable reservation fee of 3% inclusive of VAT of the winning bid in addition to the purchase price subject to a minimum fee of £4,800 inclusive of VAT.

The auction is powered and carried out by Whoobid and is subject to terms & conditions which will form part of the auction pack which will be available to download for free once produced by the vendors legal representatives. We strongly recommend that you review the legal documents prior to bidding and seek legal advice. Please remember that the reservation fees are payable in addition to the asking price.

Fees paid to the auctioneer may be considered as part of the chargeable consideration and may attract stamp duty liability. Bidders will be required to register in order to download the ‘legal pack’, if you choose to bid on the property you will be required to complete further identity checks for anti- money laundering purposes, provide card and solicitors details before you are able to place a bid. Properties may be sold prior to public auction if an offer is accepted by the vendors.

**Guide price - This is an indication of the seller’s minimum expectations at auction and is not necessarily the figure the property will achieve but acts as a guide, prices are subject to change prior to the auction.

**Reserve price - Most auctions will be subject to a reserve price, if this figure is not achieved during the auction then the property will not be sold. In normal circumstances the reserve price should be no more than 10% above a single figure guide price or if a guide price bracket is quoted the reserve will fall somewhere within those figures.

Property info

Arrange Viewing

For more information about this property, please contact
Tully and Co, PO4 on +44 23 9229 0099 * (local rate)

Contact Tully and Co about this property

Enter details
    Morning (8am-noon)
    Afternoon (noon-5pm)
    Evening (5pm-9pm)
  1. Characters remaining: 500

By submitting this form, you accept our Terms of Use and Privacy Policy. When you click 'Send message''Request valuation', we will pass your personal data to the selected estate agents so that those agents can respond to your request for information or to arrange a viewing. valuation request.

Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Tully and Co, and do not constitute property particulars. Please contact Tully and Co for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

View all Herbert Road properties for sale