Palmerston Road, Southsea PO5 3PR

OFFERS INVITED PRIOR TO PUBLIC AUCTION.
PRICE GUIDE: £280,000-£295,000.
We invite IMMEDIATE CASH OFFERS (on strict Auction terms) for this EXCELLENT AND LUCRATIVE MIXED COMMERCIAL/RESIDENTIAL INVESTMENT, currently let and producing a combined income of £26,700 p.a. - equivalent (at mid-guide) to a GROSS YIELD  of 9.25%. This late-Victorian, inner-terrace character property has brick and rendered elevations under a flat roof with balustraded parapet, the facade incorporating glazed shop front with square bay window above. Fronting Auckland Road East, within a historic and sought-after Conservation Area (Owen's Southsea) No. 97a stands adjacent to Palmerston Road's primary trading area and moments only from Southsea Seafront, a position which places a wide range of public amenities within comfortable reach. Tenancy details: SHOP (Ground Floor and Basement). Let for a term of 5 years from 28th August 2023 (expiring 27th August 2028) at £15,600. Trading as Mooboo Bubble Tea.
FLAT (First Floor) Let on an Assured Shorthold Tenancy at £925 p.c.m. (£11,100 p.a.); recently extended and now expiring on the 16th April 2026.
Full particulars of this desirable and valuable investment opportunity are given as follows and early enquiry is invited:

SHOP - 4.55m x 4.44m (14'11" x 14'7")

REAR STORE - 4.55m x 3.33m (14'11" x 10'11")

BASEMENT

REAR ROOM - 4.42m x 4.24m (14'6" x 13'11")

W.C. off

FRONT ROOM - 4.42m x 2.92m (14'6" x 9'7")

FIRST FLOOR FLAT

GROUND FLOOR LOBBY

FIRST FLOOR

LANDING

BATHROOM & W.C.

BEDROOM - 3.78m x 2.69m (12'5" x 8'10")

LIVING/KITCHEN - 4.55m x 3.73m (14'11" x 12'3")

OUTSIDE

COUNCIL TAX (FLAT)

EPC

VIEWING

ADDITIONAL AUCTION COSTS