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Herbert Road, Southsea

Guide Price
£400,000
Reduced on 01/04/2021
Tully & Co, Southsea
PROPERTY TYPE
House
BEDROOMS
x8

Key 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.

Brochures

Herbert Road, Southsea

Energy Performance Certificates

EE RatingEI Rating

Herbert Road, Southsea

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Fratton Station0.8 miles
  • Portsmouth & Southsea Station1.2 miles
  • Portsmouth Harbour Station1.6 miles
Mortgages
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About the agent

Tully & Co, Southsea

157-159 Albert Road, Southsea, PO4 0JW

Tully & Co, Southsea

Tully & Co have been operating as independent estate agents for over 40 years. As well as offering an extensive service to buyers and sellers, our team specialises in residential lettings and property management and have an enviable reputation for providing quality accommodation at affordable prices.

Our modern office is situated in the heart of Southsea, the historic sea front city of Portsmouth. Southsea is a lively seaside town attracting visitors all year round to its beaches, museu

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Industry affiliations

Association of Residential Letting AgentsNational Association of Estate AgentsOmbudsman for Lettings Estate Agents

Stamp Duty calculator

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Disclaimer - Property reference 29438262. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Tully & Co, Southsea. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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 Southsea on 02382 200006.

*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.”

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