Sold for £499,000

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By Order of a Housing Association

A 3 storey, semi detached building arranged as 2 x 2 bedroom and 3 x studio flats that will benefit from refurbishment, vacant.

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Description/Location

The property is ideally situated for landlords offering student accommodation and close to Royal South Hants Hospital. Japanese Knot Weed is present in the rear garden and a programme of eradication is in place, a report is available on request from the auctioneers. We estimate current rental values are £450 pcm for the studios and £700 pcm for the 2 bedroom flats, equivalent to £33,000 pa.

Tenure

Leasehold: 999 years from 25/03/1882.

Local Authority

Southampton City Council

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Network Auctions - 020 7871 0420

Accommodation

Ground Floor: Flat 1: studio 43 sqm / 463 sq ft EPC D, Flat 2: 2 bedroom 53 sqm / 570 sq ft EPC D. First Floor: Flat 3: studio 40 sqm / 430 sq ft EPC D, Flat 4: 2 bedroom 55 sqm / 592 sq ft EPC E. Second Floor: Flat 5: studio 36 sqm / 387 sq ft EPC F. Outside: Gardens front and rear.

Rent

ERV: £33,000 pa

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*Guide Price & Reserves

Generally speaking Guide Prices are provided as an indication of each seller’s minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every 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.

The “Important Notes For Auction Buyers” at the front of the catalogue includes a definition of “Guide Price & Reserve Price”. All properties are subject to a purchaser’s administration fee of £1,500 + VAT unless otherwise stated in the addendum (£420 inc VAT for lots with guide prices up to £3,000). If the purchaser is liable for any further costs these will be stated within the Special Conditions of the legal pack, that have been produced by the seller’s lawyer, a copy of which can be downloaded from our website.