1 bedroom Apartment in Portsmouth

67a Milton Road, Portsmouth PO3 6AN
  • Lot No: 107
  • Property Type: Apartment
  • Contract Type: Unconditional with Variable Fee

Guide Price* £65,000+ plus fees

Result Sold at Auction £70,000

Property Description

DRAFT DETAILS A one bedroom self-contained apartment located above a commercial unit in Portsmouth close to local amenities and Baniffs Pond and park. The flat is currently let to a tenant on an assured shorthold tenancy on a rolling basis paying £625 per calendar month. According to the AST the rental income is £495 pcm. We have requested evidence of rental increase to the advertised rental income of £625 pcm but this is not yet received. Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.

Note

Length of lease: 25/03/1990 to 24/03/2089 Current ground rent: £50 per annum Ground rent review period: TBC Current service charge: TBC Service charge review period: TBC This information should be clarified in the legal pack and we’ll update the information above when we receive it.


Note

Please be advised that the auctioneers have not personally inspected the property. Prospective buyers are advised to make a viewing enquiry and any other necessary independent enquiries before placing their bid, as this will be binding.


Tenure

Leasehold

Auction Details: The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Variable Fee (England and Wales). Binding contracts of sale will be exchanged at the point of sale. All sales are subject to SDL Property Auctions’ Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law. Auction Deposit and Fees: The following deposits and non- refundable auctioneer’s fees apply:
  • 5% deposit (subject to a minimum of £5,000)
  • Buyer’s Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
The Buyer’s Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property. There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding. Additional Information: For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page. This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties). Guide Price & Reserve Price Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.

Auction Details

Date 27th October 2022

Venue National Property Auction
The National Property Auction will be conducted behind closed doors. The auction will be live-streamed online with remote bidding only. Registration for bidding will close at 12pm the day before the auction.

Lot Information

Contact Us

If you have any questions, call our team on 0800 046 5454

Map

67a Milton Road, Portsmouth PO3 6AN