Herbert Road, Southsea
Guide price £400,000, 8 bedrooms, house, for sale

Key features

  • 8 BEDROOM LICENCED HMO
  • IN EXCESS OF £42,200 NET INCOME
  • LET TO PROFESSIONAL TENANTS
  • OF INTEREST TO INVESTORS
  • IN EXCESS OF 7% NET RETURN
  • FANTASTIC RETURN
  • NO CHAIN
  • TENANTS IN SITU
  • 2 EN-SUITE ROOMS
  • THREE SHOWER ROOMS

Property Description

GUIDE PRICE £400,000 - £450,000. THIS EIGHT BEDROOM PROPERTY IS BEING SOLD BY MODERN AUCTION on the 20th of May at 4PM.

Currently returning circa £48,600.00 per annum Gross (at full occupancy), this substantial property is let to professional sharers on individual AST's.

After monthly expenditure, NET income is in excess of £39,000 making this an attractive proposition for any investor.

Call now for more information and to arrange a viewing.

COMMUNAL LOUNGE

KITCHEN

UTILITY ROOM

BEDROOM ONE
Monthly Rental £550.00

BEDROOM TWO
En-Suite Room.
Monthly Rental £650.

BEDROOM THREE
En-Suite Room.
Monthly Rental £450.

BEDROOM FOUR
Monthly Rental £450.

BEDROOM FIVE
Monthly Rental £500.

BEDROOM SIX
Monthly Rental £500.

BEDROOM SEVEN
Monthly Rental £450.

BEDROOM EIGHT
Monthly Rental £500.

KITCHEN

SHOWER ROOM

SHOWER ROOM

SHOWER ROOM

FURTHER INFORMATION
The current HMO Licence allows for occupation of 8 individuals and was granted on the 16th of May 2018.

Please Note that Net and Gross returns are calculated at full, year round occupancy. Gross rental figures include bills. Net figures are calculated after monthly expenditure.

Council Tax Band: E - £2,226.59

This property is offered for sale by the 'modern method of auction' through an Online Auction. This is a modern twist on the traditional auction room sale where buyers can bid for the property via an online platform. The winning bidder, assuming the reserve is met, is granted exclusivity of the property at the winning bid price for 28 days in which they must exchange or the vendor is free to remarket the property and the reservation fee will not be returned. The auction will run for 3 hours on a set date and time chosen by the vendor of the property. Upon completion of a successful auction the winning bidder will be required to pay a non-refundable reservation fee of 3% inclusive of VAT of the winning bid in addition to the purchase price subject to a minimum fee of £4,800 inclusive of VAT.

The auction is powered and carried out by Whoobid and is subject to terms & conditions which will form part of the auction pack which will be available to download for free once produced by the vendors legal representatives. We strongly recommend that you review the legal documents prior to bidding and seek legal advice. PLEASE REMEMBER THAT THE RESERVATION FEES ARE PAYABLE IN ADDITION TO THE ASKING PRICE.

Fees paid to the auctioneer may be considered as part of the chargeable consideration and may attract stamp duty liability. Bidders will be required to register in order to download the 'legal pack', if you choose to bid on the property you will be required to complete further identity checks for anti- money laundering purposes, provide card and solicitors details before you are able to place a bid. Properties may be sold prior to public auction if an offer is accepted by the vendors.

**Guide price - This is an indication of the seller's minimum expectations at auction and is not necessarily the figure the property will achieve but acts as a guide, prices are subject to change prior to the auction.

**Reserve price - Most auctions will be subject to a reserve price, if this figure is not achieved during the auction then the property will not be sold. In normal circumstances the reserve price should be no more than 10% above a single figure guide price or if a guide price bracket is quoted the reserve will fall somewhere within those figures.

"Dear Tully's Thank you so much for my lovely new home... and for listening and supporting me - I could've gone crazy without you!"
Lots of love Beth