7 bedroom block of apartments for saleJohn Street, Southampton, Hampshire, SO14 3DR
- Prime Investment Opportunity In Quality Location
- 7 Apartments Generating Circa £48,300 PA
- Of Interest To Discerning Investors/Cash Buyers
To be sold by Public Auction on 27th October 2016 at The Macdonald Botley Park Hotel, Winchester Road, Boorley Green, Southampton, SO32 2UA
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Prime Investment Opportunity In Quality Location
7 Apartments Generating Circa £48,300 PA
Of Interest To Discerning Investors/Cash Buyers
Location:These 7 apartments are located within a character and landmark building in one of Southampton's prime commercial and residential locations on the corner of John Street and Oxford Street. The area offers an excellent balance of quality commercial restaurants and bars along with character residential properties ranging from large Victorian townhouses to apartments. This building has a particular character being constructed in a Burnt Brown Stone style brick with many decorative external features.
Accommodation:GROUND FLOOR: Communal Entrance (from John Street) with Stairs to First Floor.
FIRST FLOOR: Landing with Stairs to Second Floor. FLAT 4 (1 Bedroom): Entrance Hall, Lounge, Kitchen, Shower Room with WC, Bedroom.
FLAT 5 (Studio): Entrance Area, Kitchen, Shower Room with WC, Lounge/Bedroom.
FLAT 6 (Studio): Entrance Area, Shower Room with WC, Kitchen, Lounge/Bedroom.
FLAT 7 (Studio): Open Plan Lounge/Bedroom Area with Modern Kitchen, Shower Room with WC.
SECOND FLOOR: Communal Landing. FLAT 1 (2 Bedroom): Entrance Hall, Lounge with Kitchen Area, Stairs to Upper Floor Landing, Bedroom Two, Bedroom One, Shower Room with WC.
FLAT 2 (Studio): Entrance Hall, Shower Room with WC, Kitchen, Lounge/Bedroom.
FLAT 3 (Studio): Entrance Hall, Shower Room with WC, Lounge/Bedroom, Kitchen.
Lease Details:The Lease is dated 12th December 2008 for a term of 125 years commencing from 12th December 2008. The lease includes the side entrance and upper parts of the building but excludes the ground floor commercial area.
Tenancy Details:We understand EPC ratings and rents payable are as follows:-
Flat 1 - £700 PCM EPC - E
Flat 2 - £550 PCM EPC - D
Flat 3 - £550 PCM EPC - E
Flat 4 - £675 PCM EPC - E
Flat 5 - £550 PCM EPC - E
Flat 6 - £550 PCM EPC - D
Flat 7 - £450 PCM EPC - D
We have been advised that all tenants are on AST agreements, some of which may be on periodic notice. The auction legal pack will contain information regarding the terms and payment dates of the rents along with copies of the tenancy agreements. All potential buyers are advised to have satisfied their own enquiries over the status of the tenancies prior to bidding.
IMPORTANT NOTICE: The Guide Price quoted must not be relied upon by prospective purchasers as a valuation or assessment of value of the property. It is intended to provide purchasers with an indication of the region at which the reserve may be set at the time of going to press. The guide price may be subject to variation and interested parties are advised to make regular checks for variations and should be aware that the reserve price may be either below or above the quoted guide price.
Prospective purchasers should also be aware that the eventual sale price may be above or below the guide level dependent upon competition, and should therefore not presume the guide to be indicative of the final expected sale price or the price the property is available at.
When setting the guide price, the auctioneers have given consideration to the seller’s instructions in respect of their indicated reserve price at the time of instruction. The reserve price, (the level below which the property will not be sold), remains confidential between the seller and the auctioneer. The guide price therefore, is intended to indicate the region at which the reserve price is intended to be set. The seller will confirm their final reserve price close to the auction date and if
appropriate the auctioneers may adjust the guide price to reflect this.
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*Guide Price: An indication of a seller's minimum expectation at auction and given as a Guide Price or a range of Guide Prices. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a Reserve Price below which the property cannot be sold at auction. Normally the Reserve Price will be set within the range of Guide Prices or no more than 10% above a single Guide Price.
Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Fox & Sons, Southampton Auctions on 02380 338066.
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