Locksway Road, Southsea

Sold via Secure Sale online bidding. Terms & Conditions apply. Starting Bid £150,000

82 Locksway Road presents an excellent opportunity to acquire a well-established commercial property with significant development potential, offered via the Modern Method of Auction.

Currently classified under B1 use, the property has been successfully operated as office space for over 30 years, making it ideal for continued commercial use. However, its true appeal lies in its versatility and scope for conversion (subject to the necessary planning consents). Prospective buyers may wish to explore options such as transforming the building into a spacious three-bedroom family home, creating two one-bedroom flats, or developing a mixed-use scheme with a commercial unit on the ground floor and a residential flat above.

The property further benefits from valuable rear access, enhancing both its practicality and development potential.

Situated in a well connected location, this is a rare opportunity for investors, developers, or owner-occupiers looking to unlock value in a flexible space.

Early interest is expected contact us today for further details on how to participate in the Modern Method of Auction.

Portsmouth Council Tax - The local authority is Portsmouth City Council.

BAND :

Mortgage Advisor - We offer financial services here at Bernards. If you would like to review your current Agreement In Principle or are yet to source a lender, we have a number of experienced Financial Advisors who will be happy to help.

Conveyancing - Choosing the right conveyancing solicitor is extremely important to ensure that you obtain an effective yet cost-efficient solution. The lure of supposedly cheaper on-line "conveyancing warehouse" style services can be very difficult to ignore but this is a route fraught with problems that we strongly urge you to avoid. A local, established and experienced conveyance will safeguard your interests and get the job done in a timely manner. Bernards can recommend several local firms of solicitors who have the necessary local knowledge and will provide a personable service. Please ask a member of our sales team for further details.

Offer Check Procedure - If you are considering making an offer for this or any other property Bernards Estate Agents are marketing, please make contact with your local office so we can verify/check your financial/Mortgage situation.

Anti-Money Laundering - Bernards Estate agents have a legal obligation to complete anti-money laundering checks. The AML check should be completed in branch. Please call the office to book an AML check if you would like to make an offer on this property. Please note the AML check includes taking a copy of the two forms of identification for each purchaser. A proof of address and proof of name document is required. Please note we cannot put forward an offer without the AML check being completed

Auctioneer's Comments - Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.

This auction lot is being sold either under conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.

The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via the Marketing Agents or via The Auctioneers website.

Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between both any marketing agent and The Auctioneer in order that all matters can be dealt with effectively.

The property is being sold via a transparent online auction.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification of identity process in accordance with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.
Our verification process is in place to ensure that AML procedure are carried out in accordance with the law.

A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers’ obligations and sellers’ commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price of the property. The deposit will be a contribution to the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) is also required to be paid upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.

Both the Marketing Agent and The Auctioneer may believe necessary or beneficial to the customer to pass their details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.

Solicitor - Choosing the right conveyancing solicitor is extremely important to ensure that you obtain an effective yet cost-efficient solution. The lure of supposedly cheaper on-line "conveyancing warehouse" style services can be very difficult to ignore but this is a route fraught with problems that we strongly urge you to avoid. A local, established and experienced conveyancer will safeguard your interests and get the job done in a timely manner. Bernards can recommend several local firms of solicitors who have the necessary local knowledge and will provide a personable service. Please ask a member of our sales team for further details.