Lot 5

Flats 2 & 8 Espionage Place, South Way, Southwell Business Park, Portland, Dorset DT5 2FF


> Recently Converted 1 x 2 Bed & 1 x 1 Bed Apartments
> Estimated Rent Fully Let £15,000 PA (Circa 10% Yield)
> Ideal Investment Buy For Private Rental & Holiday Lets

Guide Price: Withdrawn Prior

Description:

Lease Details

Each flat is held on its own individual Lease dated 19th January 2018 for 125 years from and including 29th September 2017.

Location

Espionage Place is located in the Southwell area of Portland, which can be found toward the southerly tip of the island and a short distance from Portland Bill. The properties are ideally placed for a range of local amenities and access to cliff top walks that boast stunning panoramic views of the Jurassic Coastline and the English Channel. The historic island of Portland is connected to the mainland by Chesil Beach with the A354 providing travel connections to the mainland and the resort town of Weymouth, which provides a comprehensive array of tourist, shopping, leisure and dining facilities.

Description

These apartments form part of the ground floor of a recently converted historical building which was infamously associated with the Portland Spy Ring. The flats are offered with part vacant possession, with the one bed currently let at £520 pcm and the two bed sold vacant with an estimated rent of £725 pcm. The flats benefit from allocated and visitors parking along with the leases permitting pets and holiday letting, making them ideal for serviced accommodation (Airbnb) and residential letting purposes.

Accommodation

GROUND FLOOR: Communal Entrance Hallway. Flat 2 - Entrance Hallway, Open Plan Living/Kitchen Area, Bedroom One with Dressing Room, Bedroom Two, Bathroom. Flat 8 - Entrance Hallway, Open Plan Living/Kitchen Area, Bedroom, Bathroom. OUTSIDE: Each flat benefits from an allocated parking space. The block also offers visitors parking and communal grounds.

Tenancy Details

Flat 8 is currently let on an AST agreement (now on periodic) at £520 pcm. A copy of the tenancy agreement will be included in the legal pack and all prospective buyers are advised to satisfy any enquiries regarding the status of the tenancy, prior to bidding.

Tenure

Leasehold

EPC Rating

Flat 2: D & Flat 8: D

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.

Viewing Dates and Times

Strictly by appointment with Fox & Sons Weymouth.