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Guide Price: £400,000.00

Modern Method of Auction

25 Herbert Road , Southsea , Portsmouth , PO4 0QA

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CURRENT BID*

£424,500.00

(Place a bid)

AUCTION CLOSED

Lot Number: 43690879

Property ID: 62975379

Tully & Co

paul@tullyand.co

02392732241

The minimum current bid is £425,000.00

Fees Apply

Automatic maximum bid £ (only bid in increments of £500)

£

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Guide Price

£400,000.00

Method of Auction

Modern

Property Type

House

Number Of Beds

5+

Tenure

Freehold Property

Address

25 Herbert Road

Key Features

FOR SALE VIA ONLINE AUCTION
GUIDE PRICE £400,000-£450,000
8 BEDROOM LICENCED HMO
IN EXCESS OF £39,000 NET INCOME
TENANTS IN SITU
LET TO PROFESSIONAL TENANTS
OF INTEREST TO INVESTORS
IN EXCESS OF 7% NET RETURN
THREE SHOWER ROOMS
PRE AUCTON OFFERS CONSIDERED

Description

**FOR SALE VIA ONLINE AUCTION** GUIDE PRICE £400,000-£450,000, THIS EIGHT BEDROOM PROPERTY IS AN EXCELLENT INVESTMENT.

Currently returning circa £48,600 per annum Gross (at full occupancy), this substantial property is let to professional sharers on individual AST's.

After monthly expenditure NET income is in excess of £39,000 making this an attractive proposition for any investor.

Call now for more information and to arrange a viewing.

This property is offered for sale by the ‘modern method of auction’ through an Online Auction. This is a modern twist on the traditional auction room sale where buyers can bid for the property via an online platform. The winning bidder, assuming the reserve is met, is granted exclusivity of the property at the winning bid price for 28 days in which they must exchange or the vendor is free to remarket the property and the reservation fee will not be returned. The auction will run for 3 hours on a set date and time chosen by the vendor of the property. Upon completion of a successful auction the winning bidder will be required to pay a non-refundable reservation fee of 3% inclusive of VAT of the winning bid in addition to the purchase price subject to a minimum fee of £4,800 inclusive of VAT. The auction is powered and carried out by Whoobid and is subject to terms & conditions which will form part of the auction pack which will be available to download for free once produced by the vendors legal representatives. We strongly recommend that you review the legal documents prior to bidding and seek legal advice.

PLEASE REMEMBER THAT THE RESERVATION FEES ARE PAYABLE IN ADDITION TO THE ASKING PRICE. Fees paid to the auctioneer may be considered as part of the chargeable consideration and may attract stamp duty liability. Bidders will be required to register in order to download the ‘legal pack’, if you choose to bid on the property you will be required to complete further identity checks for antimoney laundering purposes, provide card and solicitors details before you are able to place a bid. Properties may be sold prior to public auction if an offer is accepted by the vendors.

**Guide price - This is an indication of the seller’s minimum expectations at auction and is not necessarily the figure the property will achieve but acts as a guide, prices are subject to change prior to the auction.

**Reserve price - Most auctions will be subject to a reserve price, if this figure is not achieved during the auction then the property will not be sold. In normal circumstances the reserve price should be no more than 10% above a single figure guide price or if a guide price bracket is quoted the reserve will fall somewhere within those figures.

Property Brochure

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Property Auction Pack

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EPC

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Floor Plan

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**These particulars are produced by the advertising agent and not
verified by Whoobid, they are believed to be correct but their accuracy
cannot be guaranteed and they do not constitute an offer or form part of
any contract.**

Map Location

Property Location

Address: PO4 0QA

Agent's Information

Name: Tully & Co

Address: Portsmouth, Hampshire, PO4 0JW

Telephone Number: 02392732241

Email: paul@tullyand.co

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