Block of flats for sale in Middle Street, Inner Avenue, Southampton SO14

Summary
auction sale 30 July 2024 - > Property arranged as 2 x 1 bedroom maisonettes > Let on AST’s at a combined rent of £17,280 pa
> Ideal investment purchase for landlords - circa 9% yield

description
*** to be sold by public auction on 30th July 2024 at the grand connaught rooms, 61 - 65 great queen street, london, WC2B 5DA (Online bidding available) ***

Tenure
Leasehold

Lease Details
The Lease is dated 23rd September 1879 for a term of 500 years from 24th June 1877 with a ground rent of £8 pa.

Location
The property can be found in the very popular and central Inner Avenue area of Southampton, located on the corner of Middle Street and Dover Street. The area serves both private and student based lets and is ideally placed for access to the city centre and travel networks, together with local shops and amenities.

Description
This two storey end of terrace property is arranged as two self contained one bedroom maisonettes, which are currently let on separate AST’s. The property is offered in good condition and provides a circa 9% yield return whilst offering the potential for greater income returns, making this an ideal investment purchase.

Accommodation:
Ground Floor: (14a) Private Door to Kitchen, Lobby/Utility, Shower Room/WC, Inner Hallway/Breakfast Area, Double Bedroom, Lounge.
First Floor: (14b) External Stairs to Private Front Door to Kitchen, Shower Room/WC, Inner Hallway/Breakfast Area, Double Bedroom, Lounge.
Outside: Courtyard area and garage storage shed.

Tenancy Details
The flats are currently let on AST agreements at the following rents: Gff 14a- £800 pcm. Fff 14b - £640 pcm. Copies of the tenancy agreements will be included in the legal pack and buyers are advised to satisfy all enquiries regarding the status of the tenancies prior to bidding.

EPC

Gff 14a – E. Fff 14b – D.

Council Tax Band
Both flats - A

Important Notice:
For each Lot, a contract documentation fee of £1,500 (inclusive of VAT) is payable to Fox & Sons/Barnard Marcus Auctions by the buyer. The seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of Sale. Buyers are deemed to bid in full knowledge of this.

The Guide Price quoted must not be relied upon by prospective purchasers as a valuation or assessment of value of the property. It is intended to provide purchasers with an indication of the region at which the reserve may be set at the time of going to press. The guide price may be subject to variation and interested parties are advised to make regular checks for variations and should be aware that the reserve price may be either below or above the quoted guide price.

Prospective purchasers should also be aware that the eventual sale price may be above or below the guide level dependent upon competition, and should therefore not presume the guide to be indicative of the final expected sale price or the price the property is available at.

When setting the guide price, the auctioneers have given consideration to the seller’s instructions in respect of their indicated reserve price at the time of instruction. The reserve price, (the level below which the property will not be sold), remains confidential between the seller and the auctioneer. The guide price therefore, is intended to indicate the region at which the reserve price is intended to be set. The seller will confirm their final reserve price close to the auction date and if appropriate the auctioneers may adjust the guide price to reflect this.

Whilst Fox & Sons make every effort to ensure the safety and security of viewers at properties, we have not carried out a detailed Health & Safety inspection of properties in our auctions and cannot therefore guarantee the safety and security of viewers. Prospective purchasers and bidders attend properties entirely at their own risk. Particular care should be taken when accessing cellars, attics, exterior grounds and outbuildings and boundaries. All non-conducted inspections of vacant sites should be made in daylight hours only and entry into such sites is entirely at the viewers risk.

1. Money laundering regulations: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Photographs and Measurements: Some images may have been taken by a wide angled lens camera. These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. These particulars are issued in good faith but do not constitute representations of fact or form part of any offer or contract. The matters referred to in these particulars should be independently verified by prospective buyers or tenants. Neither sequence (UK) limited nor any of its employees or agents has any authority to make or give any representation or warranty whatever in relation to this property.