101A London Road
Ref: Lot 1
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Unconditional Lot
UNCONDITIONAL LOT Exchange and administration fee information: (plus fees) Buyers Administration Fee Applies upon the fall of the hammer, the Purchaser shall pay a 10% deposit (subject to minimum of £5,000, whichever is the greater) and a Buyers Administration Fee of £1200 + VAT and contracts are exchanged. The purchaser is legally bound to buy and the vendor is legally bound to sell the Property/Lot. The auction conditions require a full legal completion 28 days following the auction (unless otherwise stated in the legal pack or on the sales details). In addition to the purchase price, buyers may be required to pay additional fees, costs and charges - please refer to the legal pack.
Forest Grove House, 101A London Road, Cowplain, Waterlooville, Hampshire, PO8 8BX
Rare Investment Opportunity!
Description
A rare opportunity to purchase a high end development of five 2-bed apartments and five 1-bed apartments, each with 999 year leases issued in 2019. High spec and well thought out, these apartments are stunning both externally and internally, and come with allocated parking plus bike store.
All 10 apartment are currently tenanted, producing a total Annual Rental Income of £135,891.72, with monthly rental figures as follows:
Apartment 1 - £1,300.00 pcm
Apartment 2 - £1,325.00 pcm
Apartment 3 - £924.58 pcm
Apartment 4 - £975.00 pcm
Apartment 5 - £1,000.00 pcm
Apartment 6 - £900.00 pcm
Apartment 7 - £1,025.00 pcm
Apartment 8 - £1,225.15 pcm
Apartment 9 - £1,325.00 pcm
Apartment 10 - £1,324.58 pcm
Rents kept lower for the tenants by the seller while the seller is marketing to find a new owner for the 10-apartment development.
Ideally located a couple of minutes walk from Shops, Supermarkets, Surgeries, Pharmacies and Dentists with a selection of excellent schools and further education colleges nearby. Portsmouth university is 9 miles away.
The Forest of the Queen's Enclosure, Padnell Park and Jubilee Park are all within walking distance. The area boasts numerous country pubs and restaurants
Havant train station is five miles to the south and Petersfield train station is nine miles to the North with bus routes to and from Havant and Petersfield. A dedicated bus lane route from Cowplain allows access to Portsmouth & Southsea within 30 minutes. The National Express Coach to London also runs through Cowplain.
Cowplain is a highly sought-after location to live in S.E. Hampshire and Forest Grove House is unquestionably apartment living at it very best.
Disclaimer:
Material information will be provided within the legal pack - to download this register your interest at tcpa.co.uk.
Council Tax Bands:
Band A - Flats 3, 4 and 6.
Band B - Flats 1, 2, 5, 7, 8, 9, and 10.
EPC
All flats are Rating C
Tenure
Freehold
For sale by online auction on 27th June 2024
Bidding opens at 10:00am and closes from 12:00 noon
Development of 10 apartments
Fully tenanted - producing £135,891.72 per annum
High spec development
Allocated parking and bike store
Desirable location
Buyers Premium
Plus Fees
Rare Investment Opportunity!
* The Guide Price given is an indication as to where the Reserve is currently set. The Reserve is the minimum price that the auctioneer is authorised by the vendor to sell the property for. It is subject to change throughout the marketing period. Where the Guide Price is a single figure, the current Reserve will not be more than 10% above that single figure, and where a price range is given (i.e. £50,000 - £55,000), the Reserve will not exceed the upper level of the range. It is not necessarily what the auctioneer expects it will sell for.
We would like to point out that all measurements, floor plans and photographs are for guidance purposes only (photographs may be taken with a wide angled/zoom lens), and dimensions, shapes and precise locations may differ to those set out in these sales particulars which are approximate and intended for guidance purposes only.
These particulars, whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on them as statements of representation of fact, but must satisfy themselves by inspection or otherwise as to their accuracy. No person in this firms' employment has the authority to make or give any representation or warranty in respect of the property.
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- Online bidding process runs to advertised end date
- If you are highest bidder at the end of the bidding process one of the TCPA / Auctionline team will contact you to proceed with the sale under relevant legal process. A reservation fee and deposit may be required at this stage. please contact relevant team or refer to terms and conditions
- All interested bidders are assumed to have carried out due diligence and checks prior to bidding on the lot
- Buyers are advised to refer to individual terms and conditons, relevant legal pack and are not to rely on details or videos provided by the agent as statement of fact on the basis on proceeding with a sale
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