Flats 1 - 7, 1-2 John Street, Southampton, Hampshire (Archive)

> Prime Investment Opportunity In Quality Location
> 7 Apartments Generating Circa £49,140 PA
> Of Interest To Discerning Investors/Cash Buyers

Guide Price: £650,000 Plus

Description:

Lease Details

The Lease is dated 12th December 2008 for a term of 125 years commencing from 12th December 2008. The lease includes the side entrance and upper parts of the building but excludes the ground floor commercial area.

Location

These 7 apartments are located within a character and landmark building in one of Southampton's prime commercial and residential locations on the corner of John Street and Oxford Street. The area offers an excellent balance of quality commercial restaurants and bars along with character residential properties ranging from large Victorian townhouses to apartments. This building has a particular character being constructed in a Burnt Brown Stone style brick with many decorative external features.

Accommodation

GROUND FLOOR: Communal Entrance (from John Street) with Stairs to First Floor. FIRST FLOOR: Landing with Stairs to Second Floor. FLAT 4 (1 Bedroom): Entrance Hall, Lounge, Kitchen, Shower Room with WC, Bedroom. FLAT 5 (Studio): Entrance Area, Kitchen, Shower Room with WC, Lounge/Bedroom. FLAT 6 (Studio): Entrance Area, Shower Room with WC, Kitchen, Lounge/Bedroom. FLAT 7 (Studio): Open Plan Lounge/Bedroom Area with Modern Kitchen, Shower Room with WC. SECOND FLOOR: Communal Landing. FLAT 1 (2 Bedroom): Entrance Hall, Lounge with Kitchen Area, Stairs to Upper Floor Landing, Bedroom Two, Bedroom One, Shower Room with WC. FLAT 2 (Studio): Entrance Hall, Shower Room with WC, Kitchen, Lounge/Bedroom. FLAT 3 (Studio): Entrance Hall, Shower Room with WC, Lounge/Bedroom, Kitchen.

Tenancy Details/EPC

We understand EPC ratings and rents payable are as follows: Flat 1 - £650 PCM EPC - E Flat 2 - £565 PCM EPC - D Flat 3 - £550 PCM EPC - E Flat 4 - £675 PCM EPC - E Flat 5 - £595 PCM EPC - E Flat 6 - £560 PCM EPC - D Flat 7 - £500 PCM EPC - D Tenancy dates will vary in the building and all prospective purchasers are advised to have inspected the auction legal pack and satisfied any enquiries over the tenancies, prior to bidding. All flats have been improved with upgrades to kitchens and heating systems along with decorations to the communal hallways.

Tenure

Leasehold

Important Notice

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.