6 Bed Residential Development For Sale

We are pleased to present a unique opportunity to acquire this Central Southsea apartment building which can continue to be enjoyed as a rental investment or utilise the current planning on the site for Three Modern Townhouses with Off Road Parking. The plans for the approved Townhouses include Three Bedrooms two of which are en-suite, a bike store, roof terrace and courtyard garden to the rear which we believe would prove popular to the Sales market. Having been in the same ownership for many years the block has been well maintained and each apartment has the benefit of Off Road Parking plus garaging to the rear. They have presented a popular rental with minimal voids in tenancy during the current owners Management and being a purpose built block presents a better maintenance proposal than many period conversions. The flats are currently let on Assured shorthold tenancies producing a gross annual income of £37,644.00 and at the time of writing the block is fully occupied. We have more details for the planning permission that has been granted available on request and also available from Portsmouth City Council's Website Planning Portal.