1 Bed Flat For Sale South Parade, Southsea, PO5

£150,000- Flat

Auction Property
1 of 13
  • Description
  • Floor Plan
  • Street View
  • Maps
We appreciate the listed price showing isn’t necessarily the price you would buy this property for, as it is in auction. However, we hope some confidence can be gained from our system successfully being able to identify this as potentially below market value.
Last Updated: 25th March 2024

Description

TO BE SOLD BY PUBLIC AUCTION AT A DATE TO BE CONFIRMED
(UNLESS SOLD PREVIOUSLY).
GUIDE PRICE:  £140,000-£150,000.
We invite IMMEDIATE CASH OFFERS, prior to possible Public Auction, for this well-appointed, purpose-built ONE BEDROOM HALL FLOOR SEAFRONT APARTMENT, benefitting from ALLOCATED CAR SPACE, central heating, replacement double-glazing, and secure entry; very keenly guided to reflect SHORT REMAINING LEASE TERM.  Built in the mid-1960s, 'Fastnet House' is a sought-after eleven-storey residential development occupying a prominent position at the junction of South Parade with Burgoyne Road, directly opposite Seafront ornamental gardens, minutes only from the open beach, and some half a mile from Southsea Town Centre (Palmerston Road Shopping Precinct). At upper ground level, and with an outlook to the south and west, Flat 2 itself has been the subject of relatively recent refurbishment, presenting now to a good overall standard, but rewarding modest cosmetic attention. Full details are given as follows:

LEASE DETAILS

The flat is held on the balance of a 99 years lease from December 1966, with some 41 years only remaining. The seller here being subject to a Court of Protection Order, no action can or will be taken to initiate a lease extension (although a valuation has been obtained), this being a matter for the eventual buyer to pursue at their own expense. 
Canopied steps up to:

RECESSED PORCH

With glazed, automatic main front door, having video entry system, to:

SPLIT-LEVEL LOBBY

Lift and stairs to upper floors.

FLAT 2

ENTRANCE HALL

4 recessed ceiling spotlights. Video security entry phone.

SHOWER ROOM & W.C.

(Formerly with bath). Contemporary white suite comprising:  walk-in shower with 'Triton' mixer, low flush WC with concealed cistern, and handbasin with mixer tap plus cupboards under. Extractor. Contemporary towel rail. 4 recessed ceiling spotlights.

KITCHEN/BREAKFAST ROOM - 4.22m x 2.24m (13'10\" x 7'4\")

Fitted and equipped with: base and wall cupboards, work surfaces with tiled surround, single drainer stainless steel inset sink with mixer tap, electric oven, 4-ring ceramic hob with extractor, 'fridge/freezer. 'C & M' wall-mounted gas fired hot water boiler. Tiled floor. UPVC replacement double-glazed window to front elevation. 8 recessed ceiling spotlights.

BEDROOM - 4.42m x 3.12m (14'6\" x 10'3\")

UPVC replacement double-glazed window to side elevation. Radiator with ornamental grille. Wall-length range of built-in wardrobe and storage cupboards. Security intercom telephone.

LIVING ROOM - 5.33m x 4.42m (17'6\" x 14'6\")

A dual-aspect room with UPVC replacement double-glazed windows to the front and side. Radiator with ornamental grille. Multi-pane glazed door from Hall.

OUTSIDE

ALLOCATED CAR SPACE

Well-positioned adjacent the building's main entrance and having vehicular access via Burgoyne Road.

GENERAL INFORMATION

TENURE:  99 years leasehold from 29.12.1966 (41 years remaining).
SERVICE CHARGE: £2,616.84 p.a. (to include communal central heating).
GROUND RENT:  £60 p.a.
COUNCIL TAX:  Band 'A' - £1,320.51 p.a.

EPC 'E'

VIEWING

By appointment with SOLE AGENTS & AUCTIONEERS.
D. M. NESBIT & CO.
(17786/048300)

ADDITIONAL AUCTION COSTS

A Buyer's Premium of £450 + V.A.T., will be payable by the purchaser to the Auctioneers, either in the Saleroom or, if the Lot is sold prior to Auction, at the offices of Nesbit & Co. An Auction Legal Pack (including Contract of Sale and Special Conditions) will be prepared by the Seller's Solicitors and available for inspection by interested parties. Those intending to bid are advised to make themselves aware of the content of the Legal Pack, containing, as it will, information in respect of any other charges that may apply (Search Fees and/or Seller's legal costs for example).
Agent Details
D. M. Nesbit & Company
7 Clarendon Road, Southsea, PO5 2ED
Show Contact Number
023 9286 4321

Investment Analysis

Annual Rent:
Annual Mortgage Interest:
Annual Costs:

Calculators

These figures are for illustration purposes, please adjust for greater accuracy.
Yield
£
£
£

%
%
Purchase Price
£
Mortgage
Interest Only / Repayment
%
£
%

£

Mortgage Finder

Show me the cheapest mortgage for this property matched to my personal circumstances and risk appetite.
No minimum income required

Similar Properties

A few properties that are similar to this 1 bedroom property. See more properties like this.

£115,000
Southsea, PO5
Flat
9.3
£160,000
Southsea, PO4
Maisonette
8.8
£110,000
Southsea, PO5
Flat
8.7
See More Properties
Legal - YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT.

Property Forecaster are working in partnership with Midland Mortgage Bureau Limited. Midland Mortgage Bureau Limited is an appointed representative of The Right Mortgage Ltd, St Johns Court,70 St Johns Close, Knowle, B93 0NH, which is authorised and regulated by the Financial Conduct Authority. Midland Mortgage Bureau Limited financial Services Register number is 756490. The Right Mortgage Ltd Financial Services Register number is 649443.
{rent_tooltip}
This is the potential achievable yield.
Potential Return-on-Cash Invested