Similar properties for sale by Your Move Southsea
2 bedroom Flat for sale, New Road, Portsmouth, Hampshire, PO2
Features and Description
- Two good-sized bedrooms
- Auction sale method
- Excellent public transport links
- Large open plan living area
- Secure allocated parking
- High rental yield potential
- Central location amenities nearby
- Solid investment opportunity
- Modernisation potential
- Leasehold with 62 years remaining
This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold).
If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding.
A Buyer Information Pack is provided. The winning bidder will pay £300.00 including VAT for this pack which you must view before bidding.
The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.50% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax.
Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £450.00. These services are optional.
We are delighted to present to you this two-bedroom flat, ideally located with excellent public transport links and local amenities within reach.
The flat, whilst in need of some refurbishment, offers ample space with reception room, a kitchen, two good-sized bedrooms, and a bathroom. The living quarters feature a large open plan living and dining space, providing an excellent canvas for you to put your stamp on. Being a leasehold property, there are 62 years remaining on the lease.
Despite its need for modernisation, the property provides a solid return on investment for savvy investors. The estimated rental income is around £12,000 per annum, presenting an exceptional gross yield. Another notable advantage of this property is its allocated secure parking, a highly sought-after feature in such a central location.
The Energy Performance Certificate (EPC) rating for this property is 'D', and it falls under the 'A' council tax band. Please be aware that the property is for sale by the modern method of auction, which is an exciting prospect for potential buyers looking for an investment opportunity.
In conclusion, this flat represents a fantastic investment opportunity in a desirable location. With some modernisation and personalisation, it could be transformed into a high-yielding rental property or a comfortable home. We encourage early viewing to appreciate the potential this property offers.
Lease Information
62 Years Remaining
Ground Rent £50 Per Quarter
Service Charge £308 Per Quarter
IMPORTANT NOTE TO POTENTIAL PURCHASERS:
We endeavour to make our particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. The services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All photographs and measurements have been taken as a guide only and are not precise. Floor plans where included are not to scale and accuracy is not guaranteed. If you require clarification or further information on any points, please contact us, especially if you are travelling some distance to view. Fixtures and fittings other than those mentioned are to be agreed with the seller.
Additional Information
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Property refSSE250091
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TenureLeasehold
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Lease length61 years
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Council TaxA
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Local authorityPortsmouth City Council
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Ground Rent£200
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Ground Rent ReviewContact the branch
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Service Charge£1,232