This Victorian building offers a commercial investment on the ground floor which is let under the terms of a commercial lease and four self-contained flats which are individually let on Assured Shorthold Tenancy Agreements. Elm Grove is situated in central Southsea in a prominent position for hospitality businesses and only a short distance to Southsea seafront.
The commercial element is currently occupied as a convenience store with a one-bedroom flat to the rear and with its own entrance. The three flats above the shop share a communal entrance and stairwell.
Commercial Unit Customer trading area, storeroom and W.C. Tenancy Let under the terms of a commercial lease at a current rental of 1,125 per calendar month. EPC Rating C (61). Total Floor Area 151 sq.m.
Flat 24B Ground Floor Tenancy One-bedroom flat let under the terms of an Assured Shorthold Tenancy Agreement at a current rental of 830 per calendar month. EPC Rating D Council Tax Band A
Flat 2 First Floor Tenancy Studio flat let under the terms of an Assured Shorthold Tenancy Agreement at a current rental of 750 per calendar month. EPC Rating D Council Tax Band A
Flat 3 First Floor Tenancy Studio flat let under the terms of an Assured Shorthold Tenancy Agreement at a current rental of 650 per calendar month. EPC Rating E Council Tax Band A
Flat 4 Second Floor Tenancy Two-bedroom flat let under the terms of an Assured Shorthold Tenancy Agreement at a current rental of 1,150 per calendar month. EPC Rating E Council Tax Band A
Auctioneers Note 1 Copies of the commercial lease and residential tenancy agreements will be included in the legal pack which will be available to download from the Clive Emson website.
Auctioneers Note 2 At the time of publication the Auctioneers have been unable to inspect Flats 3 internally. These details have been provided by the Joint Auctioneer/Seller and interested applicants should rely on their investigations to verify the information provided.
Residential EPC: E
Commercial EPC: C
Important: All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on the Auction Day.
Price Information *Guides are provided as an indication of each Seller's minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction). We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at www.cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.
*An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer. All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to www.cliveemson.co.uk/buyers-fees/
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