Lot 196

55 Redhill, Bassett, Southampton, Hampshire SO16 7BS


> Property Arranged As Two x One Bed & Six Studio Flats
> Part Let At £19,800 PA (Prev. Fully Let At £56,700 PA)
> Investment opportunity with development potential

Guide Price: £475,000 Plus

Description:

Location

This extended older style semi-detached property can be found in a residential cul-de-sac located within the popular area of Bassett, which can be found on the outskirts of Southampton. The area is well placed for access to various travel networks and Southampton City Centre which offers a comprehensive range of shopping, leisure and dining facilities.

Description

This semi detached property is being offered part tenanted and is arranged as six studio flats and two x one bedroom flats. The property requires a level of modernisation and offers the potential for redevelopment (subject to obtaining necessary consents), making it an ideal purchase for landlords and investment buyers alike.

Accommodation

Ground Floor: Communal Entrance Hallway with Stairs to First Floor and doors to: Flat 1a – Studio Room, Kitchen, Shower Room/WC, Flat 1b – Studio Room, Kitchen, Shower Room/WC , Flat 1c – Entrance Hallway, Living Room, Bedroom, Kitchen, Shower Room, Separate WC, Flat 1d – Studio Room/Kitchen area, Shower Room/WC. First Floor: Communal Landing with doors to: Flat 2a – Studio Room, Kitchen, Shower Room/WC, Flat 2b – Studio Room, Kitchen, Shower Room/WC, Flat 2c – Kitchen, Shower Room/WC, Inner Hallway, Bedroom, Living Room, Flat 2d – Studio Room, Kitchen, Shower Room/WC. Outside: Front and rear gardens together with off road parking to the front and driveway to the side providing rear vehicular access to the rear garden.

Tenancies

Part Vacant Possession (Previously let at £56,700 pa). The flats below are let on periodic AST agreements at the following rents: Flat 1A - £550 pcm, Flat 1B - £450 pcm, Flat 2D - £650 pcm. Copies of the tenancy agreements will be included in the legal pack and all prospective buyers are advised to satisfy any enquiries regarding the status of the tenancies prior to bidding.

Agents Note

(1) Due to the tenancies, not all of the flats will be available for viewings. Please respect tenants rights to privacy at all times. (2) The property was granted a lawful development certificate on 12th September 2017 for the existing use of the property as 2 x one bed flats and 6 x studio flats. Buyers are advised to view the legal pack for further information regarding this prior to bidding.

Tenure

Freehold

EPC Rating

Flats 1a, 1c, 1d & 2d - C. Flats 1b, 2a, 2b & 2c, - 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

By appointment with Fox & Sons Auctioneers.