PROPERTY DESCRIPTION FOR SALE BY ONLINE AUCTION – PRE-AUCTION OFFERS CONSIDERED

FANTASTIC INVESTMENT OPPORTUNITY

10.2% NET YIELD ON PURCHASE PRICE

An 8 bed HMO property currently on a company AST agreement with annual income of £40,500 producing a “NET ANNUAL PROFIT” of £36,000+
999 year lease, effectively a freehold situation.
Confirmation of all historical / current / projected income and expenditure figures can be obtained from our office.
Don’t delay contact us today to get the auction sales pack to register and bid for this ideal investment opportunity.

Tenure: 999 year Leasehold

NEXA Properties are delighted to be offering this fantastic investment opportunity, 8 bedroom HMO Maisonette situated on Clarendon Road, Southsea.

The property is fully furnished with modern gas central heating, all annual gas / electric and fire testing just completed with no issues and certificates issued. The maisonette is spread over two floors with two interim half floors, providing three large bedrooms with modern en-suite shower rooms, five further good sized bedrooms, one bathroom suite with toilet, hand basin, bath with shower over, one modern shower suite with toilet and hand basin, an open plan kitchen lounge area, plus lockable bicycle sheds at the rear of the property.

Tenants in situ till end of August 2021
Current Rental – £3,380pcm

Contact NEXA to arrange a viewing.

DISCLIOSURE This property is for sale via 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 auction will run for 3 hours on a set date and time chosen by the vendor of the property. The winning bidder, assuming the reserve is met, is legally bound to exchange on the property and pay a 10% deposit similar to a traditional auction house sale and they will have 28 days to complete, please check the legal paperwork to confirm deposit amount. 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 and provide card 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.