London Road, Portsmouth – Bernards

Key Details

HMO & COMMERCIAL UNIT
6 BED HMO
CIRCA £40,000 PER YEAR INCOME
FANTASTIC INVESTMENT
MODERNISATION REQUIRED
CLOSE TO LOCAL SHOPS
SUBJECT TO RESERVE FEE
BUYERS FEE APPLIES
T&C’S APPLY
MODERN METHOD OF AUCTION

Full Description

***INVESTMENT OPPORTUNITY***SIX BED HMO + COMMERCIAL UNIT***

This 6 bed HMO & Commercial Unit is being offered For sale by Modern Method of Auction; Starting Bid Price £375,000 plus Reservation Fee.

This Freehold property is perfect for those looking for a great investment opportunity with all room occupied it brings in circa 40k per annum giving you an instant 10%+ return! Situated along the London Road, North End you are perfectly located for local shops & transport links.

To arrange your internal viewing on this property, please call the Sales Team in the Portsmouth Branch on 02392728090.

COMMERCIAL UNIT

Measurements to be confirmed on the Commercial Unit

ENTRANCE TO HMO PROPERTY

COMMUNAL SHOWER ROOM

FLAT 1 KITCHEN/LIVING ROOM

FLAT 1 BEDROOM

WC

PRIVATE GARDEN

LANDING

FIRST FLOOR

STUDIO ROOM 2

SHOWER ROOM

COMMUNAL KITCHEN

BEDROOM 2A

BEDROOM 3

EN-SUITE SHOWER ROOM

SECOND FLOOR

STUDIO ROOM 4

SHOWER ROOM

COMMUNAL STORAGE ROOM

BEDROOM 5

EN-SUITE SHOWER ROOM

Council Tax

The local authority is Portsmouth city Council.

BAND : A – £1,320.51

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.

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.

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.

Auctioneer’s Comments

This property is for sale by the Modern Method of Auction. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, iamsold Limited
This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyers solicitor (for standard Grade 1 properties). This additional time allows buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey).
The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.2% of the purchase price including VAT, subject to a minimum of £6,000.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded.
This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack. The buyer will also make payment of £300 including VAT towards the preparation cost of the pack, where it has been provided by iamsold.
The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.
Referral Arrangements
The Partner Agent and Auctioneer may recommend the services of third parties to you. Whilst these services are recommended as it is believed they will be of benefit; you are under no obligation to use any of these services and you should always consider your options before services are accepted. Where services are accepted the Auctioneer or Partner Agent may receive payment for the recommendation and you will be informed of any referral arrangement and payment prior to any services being taken by you.