2 bed flat for sale

Waverley Road, Southsea PO5

*** buy to let investment *** *** tenants in situ *** *** 6.96% gross return at asking price ***
*** no forward chain *** *** share of freehold *** *** two bedroom hall floor flat ***

Currently let, this hall-floor apartment boasts good sized accommodation throughout including a light and airy lounge with bay window to the front aspect and two double bedrooms to the rear.

Offered for sale with no forward chain and with tenants in situ, this is an ideal investment and presents the opportunity for budding property investors to acquire a keenly priced property.

The current owner upgraded the heating installation and fitted a new water tank less than two years ago and the building has recently benefitted from an over hall to include the exterior fabric, chimneys and roof meaning that this is now a hassle free investment for the foreseeable future.

Current rental income sits at £975pcm (£11,700p/a).

This is a fantastic and straight-forward investment and one that should not be missed.

Lounge (4.85 x 4.04 (15'10" x 13'3"))

Kitchen (2.94 x 1.59 (9'7" x 5'2"))

Bedroom One (4 x 3.38 (13'1" x 11'1"))

Bedroom Two (4.6 x 3.52 (15'1" x 11'6"))

Bathroom (2.36 x 1.6 (7'8" x 5'2"))

Agents Notes

Tenure: Share of Freehold
Lease: 125 years from the 25th of March 1986 meaning that the unexpired term is approximately 87 years.
Ground Rent: Although the Lease stipulates that a ground rent premium of £50 rising to £250 p/a. This is notional as the property benefits from a share of the Freehold and therefore in practice, no ground rent is payable. No service charge is payable and all work is mutually agreed between the Freeholders.

The Title of this property includes the following extract regarding restrictive covenants.
The Deeds and Documents of Title having been destroyed by enemy action,
the land is registered subject to such restrictive covenants as may have
been imposed thereon before 19 March 1949 so far as the same are
enforceable.