Key Details

• FREEHOLD INVESTMENT OPPORTUNITY
• 1 BEDROOM COTTAGE
• 1 BEDROOM APARTMENT
• £1,195 PER MONTH INCOME
• ONE FULLY REFURBISHED UNIT
• CLOSE TO LOCAL AMENITES
• NO FORWARD CHAIN
• TENANTS IN SITU

Full Description

* * * INVESTMENT OPPORTUNITY – 2 UNITS & FREEHOLD ***
£1,195 PCM INCOME

Bernards are pleased to bring to the market this truly unique investment opportunity.

An end of terrace unit comprising of a one bedroom cottage and a one bedroom apartment with the added benefit of both residential units having their own private entrances.

Flat A is located to the front of the property and boasts a large, open plan lounge/kitchen, double bedroom and a shower room. This property has been let since 2006 on an Assured Shorthold Tenancy.

Flat B is accessed through a secure, electric gate and also benefits from its own front door. Flat B has recently been fully refurbished to a very good standard and is currently advertised to let.

Flat A is let at £500PCM and flat b is let at £695PCM with water bills included.

If you would like any more information or to book a viewing on this opportunity, please call Bernards Southsea office today on 023 9286 4974.

EXTERIOR

Located on the end-of-terrace, with both flats benefitting from their own private entrances. Flat A’s front door is set back of the main road. Flat B is accessed through a security gate to the rear of the main building

FLAT A

Let since September 2006, currently let achieving £495 PCM

LOUNGE

4.52m x 5.13m (14’10” x 16’10”)
Carpet flooring, smooth walls and ceilings, radiator, power points, the kitchen area comprises of a range of base and wall units, with space and plumbing for appliances, UPVC double glazed window to the rear elevation

BEDROOM

2.44m x 5.13m (8′ x 16’10”)
Carpet flooring, smooth walls and ceilings, radiator, power points, UPVC double glazed window to the side elevation

BATHROOM

1.24m x 2.92m (4’1″ x 9’7″)
Tile flooring and tiled splash backs, shower cubicle, wash basin and toilet and radiator, UPVC double glazed window to the side elevation

Leasehold Information

Tenant pays 50% of the “Building Expenses” (see lease but this is strictly 50% of the shared costs relating to the residential property only). The Building Expenses are charged only as and when any works are required. Nil expenses incurred in last 3 years and hence no service charge payable.
999 year lease from 01.01.2006
Ground rent: Peppercorn
Buildings Insurance: 50% of the annual insurance which for 07.01.19 – 06.01.20 was £728.77 for the building so £364.38 per flat

Please note that Bernard’s Estate Agents have not checked or verified the lease terms or the service charge/ground rent costs. The information provided above has been provided to us from the Seller. Your solicitor will check all of the above during the conveyancing process and you should only rely on information provided by them when making the final decision as to whether to buy any leasehold property.

Council Tax Band A

Portsmouth City Council: £864.99 Hampshire Fire & Rescue: £45.14 Police and Crime Commissioner: £134.31 Total: £1110.57

FLAT B

Fully refurbished one bedroom cottage, currently let fully furnished with water bills included at £695.

KITCHEN/LIVING AREA

2.13m x 7.24m (7′ x 23’9″)
Open plan kitchen/living area with an exposed staircase which leads to the first floor

BEDROOM

2.18m x 4.72m (7’2″ x 15’6″)
Spacious double bedroom with dual aspect windows and access to the bathroom

SHOWER ROOM

2.08m x 1.14m (6’10” x 3’9″)
Brand new shower room, with wash basin, toilet and shower cubicle

Leasehold Information

Tenant pays 50% of the “Building Expenses” (see lease but this is strictly 50% of the shared costs relating to the residential property only). The Building Expenses are charged only as and when any works are required. Nil expenses incurred in last 3 years and hence no service charge payable.
999 year lease from 01.01.2006
Ground rent: Peppercorn
Buildings Insurance: 50% of the annual insurance which for 07.01.19 – 06.01.20 was £728.77 for the building so £364.38 per flat

Please note that Bernard’s Estate Agents have not checked or verified the lease terms or the service charge/ground rent costs. The information provided above has been provided to us from the Seller. Your solicitor will check all of the above during the conveyancing process and you should only rely on information provided by them when making the final decision as to whether to buy any leasehold property.

Council Tax Band A

Portsmouth City Council: £864.99 Hampshire Fire & Rescue: £45.14 Police and Crime Commissioner: £134.31 Total: £1110.57

Anti-Money Laundering (AML)

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

Offer Check Procedure –

If you are considering making an offer for this or any other property we are marketing, please make early contact with your local office to enable us to verify your buying position. Our Sellers expect us to report on a Buyer’s proceedability whenever we submit an offer. Thank you.

Removal Quotes

As part of our drive to assist clients with all aspects of the moving process, we have sourced a reputable removal company. Please ask a member of our sales team for further details and a quotation.

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.