Shirley Road
Southampton, Shirley
Guide Price
£820,000
Tenure: Freehold
Ref: AUC0030109
- Auction sale
- 27 july 2022
- Epc rating - awaited
monthly mortgage estimate
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AUCTION SALE 27 July 2022 - > NOT BEING SOLD BY AUCTION - AVAILABLE ON A PRIVATE TREATY CONTRACT > Managed freehold investment opportunity for professional investors > Includes 9 x 1 bedroom apartments > Ground rents & enfranchisement potential
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*** OFFERS IN EXCESS OF £820,000 ***
Tenure
Freehold
Location
Withewood Mansions forms part of 3 available freehold investments located on the main Shirley High Street and superbly positioned for access to all the local amenities. This rare opportunity is prime for residential letting and potential sales on the owned apartments included with the freehold.
Description
A freehold investment opportunity to include 9 x 1 bedroom apartments producing £54,640 PA. In addition, ground rents are collectable from 16 flats that are still on the original 125 year leases dated from 29/09/1971 and would now be considered short for current mortgage lending.
Typical Accommodation Layout – 13 x 1 Bedroom Apartments
Entrance Vestibule, Lounge with access to Balcony, Inner Hallway, Kitchen, Bathroom, Double Bedroom.
Tenancy Details
The 9 x 1 bedroom apartments included in the sale are let on AST agreements producing £54,640 PA. The current rents are considered below market value and can be improved greatly with improvements to the properties.
Agents Note
This investment opportunity forms part of a larger group of freeholds being offered to professional investment buyers. The freehold title will also allow for potential income on the enfranchisement of the remaining 18 flats which still have original 125 year leases dated from 29/09/1971.
Tenure
Freehold
Location
Withewood Mansions forms part of 3 available freehold investments located on the main Shirley High Street and superbly positioned for access to all the local amenities. This rare opportunity is prime for residential letting and potential sales on the owned apartments included with the freehold.
Description
A freehold investment opportunity to include 9 x 1 bedroom apartments producing £54,640 PA. In addition, ground rents are collectable from 16 flats that are still on the original 125 year leases dated from 29/09/1971 and would now be considered short for current mortgage lending.
Typical Accommodation Layout – 13 x 1 Bedroom Apartments
Entrance Vestibule, Lounge with access to Balcony, Inner Hallway, Kitchen, Bathroom, Double Bedroom.
Tenancy Details
The 9 x 1 bedroom apartments included in the sale are let on AST agreements producing £54,640 PA. The current rents are considered below market value and can be improved greatly with improvements to the properties.
Agents Note
This investment opportunity forms part of a larger group of freeholds being offered to professional investment buyers. The freehold title will also allow for potential income on the enfranchisement of the remaining 18 flats which still have original 125 year leases dated from 29/09/1971.
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Monthly mortgage estimate
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32-34 London Road
SOUTHAMPTON
Hampshire
SO15 2AG
SOUTHAMPTON
Hampshire
SO15 2AG
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*PLEASE BE AWARE, THESE RESULTS ARE FOR ILLUSTRATIVE PURPOSES ONLY AND SHOULD NOT BE CONSIDERED AS A MORTGAGE
QUOTE. THESE ARE BASED ON A REPAYMENT MORTGAGE AND MAY VARY DEPENDING ON THE TERM AND INTEREST RATE OF YOUR
MORTGAGE.
LENDER FEES MAY ALSO BE APPLICABLE. IF YOU WOULD LIKE GUIDANCE ON THE RIGHT MORTGAGE FOR YOU, WE RECOMMEND SPEAKING TO ONE OF OUR MORTGAGE CONSULTANTS WHO WILL BE MORE THAN HAPPY TO HELP.
**THE 2.072% ANNUAL INTEREST RATE IS BASED ON THE CONNELLS GROUP AVERAGE MORTGAGE INTEREST RATE TAKEN IN, CORRECT AT JANUARY 2022.
A BROKER FEE MAY BE PAYABLE UPON MORTGAGE APPLICATION AS WELL AS AN ADMINISTRATION FEE. THE TOTAL FEE PAYABLE WILL DEPEND ON YOUR CIRCUMSTANCES. YOUR MORTGAGE CONSULTANT WILL EXPLAIN ANY FEES APPLICABLE IN YOUR INITIAL APPOINTMENT.
ALL MORTGAGES ARE SUBJECT TO STATUS AND LENDER CRITERIA. MOST BUY TO LET MORTGAGES ARE NOT REGULATED.
LENDER FEES MAY ALSO BE APPLICABLE. IF YOU WOULD LIKE GUIDANCE ON THE RIGHT MORTGAGE FOR YOU, WE RECOMMEND SPEAKING TO ONE OF OUR MORTGAGE CONSULTANTS WHO WILL BE MORE THAN HAPPY TO HELP.
**THE 2.072% ANNUAL INTEREST RATE IS BASED ON THE CONNELLS GROUP AVERAGE MORTGAGE INTEREST RATE TAKEN IN, CORRECT AT JANUARY 2022.
A BROKER FEE MAY BE PAYABLE UPON MORTGAGE APPLICATION AS WELL AS AN ADMINISTRATION FEE. THE TOTAL FEE PAYABLE WILL DEPEND ON YOUR CIRCUMSTANCES. YOUR MORTGAGE CONSULTANT WILL EXPLAIN ANY FEES APPLICABLE IN YOUR INITIAL APPOINTMENT.
YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. YOU MAY HAVE TO PAY
AN EARLY REPAYMENT CHARGE TO YOUR EXISTING LENDER IF YOU REMORTGAGE.
ALL MORTGAGES ARE SUBJECT TO STATUS AND LENDER CRITERIA. MOST BUY TO LET MORTGAGES ARE NOT REGULATED.