Lot 02 - Flat 74 Enterprise House, Isambard Brunel Road, Portsmouth, Hampshire, PO1 2RX

  • Unconditional Online Auction Sale
  • Guide Price* : Starting bid: £140,000

Newly converted 2 bedroom fifth floor flat producing £15,600 per annum in popular city centre location. Close to local amenities with excellent rail links to surrounding area.


Situation & Description

This long leasehold flat 2 bedroom flat is situated within close Portsmouth city centre and local amenities to include Sainsburys Local, Starbucks, Matalan and a wide range of restaurant and leisure facilities. The fifth floor flat extends to 474sqft (44sqm) and is let on an Assured Shorthold Tenancy for 12 months from 13th September 2019 with the tenants paying £1,300 per calendar month which is the equivalent of £15,600 per annum or a gross yield of 11.1% if purchased at the guide price of £140,000.

Portsmouth is situated on the Solent on the south coast of England and offers excellent road links and rail links to Southampton, Chichester and the surrounding areas via the A27, A3 (M) and the M27. The Isle of Wight is a short hovercraft ride across the Solent from Southsea and only takes approximately 10 minutes.

The lease is 125 years from 1st January 2017 thus having just over 122 years remaining with a ground rent of £250 per annum and an annual service charge of £1,385.35 per annum.

Copies of the Assured Shorthold Tenancy Agreement are available from the Auctioneers and contained with the Legal Pack.

Auction Details
The lot is to be sold by online auction on Wednesday xxxxxxxxxxx
All interested parties who wish to bid, please contact My Auction on 0207 101 4868

Please note that a Buyer’s Premium of 1.2% inc.VAT of the purchase price is to be paid by the successful Buyer (subject to a minimum fee of £2,400 inc.VAT). The successful Buyer will also have to pay a 5% non-refundable Deposit on the fall of the digital hammer with the remaining 95% payable on completion (see Special Conditions of Sale for full details).

* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

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Agreement Documents