Portfolio8 are delighted to bring to the market this 1st floor studio apartment in Portsmouth. The property is being sold with a tenant in situ who has been at the property for 10 years. The tenant has also indicated she is looking to stay in the property for the foreseeable.
Tenancy Status: Tenanted
The property consists of: Entrance hallway leading to the family bathroom which has a bath, sink and toilet. Access to the living room/bedroom is also gained via the hallway. Entrance to the kitchen is available through the main living space through and opening.
The property also benefits from a mature communal garden to the rear, and a dedicated parking for tenants.
Summerfield Court- Investment Highlights
Offers over £100,000.00
Current rental price £475.00pcm
Annual service charge and ground rent - £951.00 per annum
Management/lettings cost per annum - £576
Leasehold – 165 years remaining
Yield return of 5.7%
Lettings and Management
The property has been managed on a long term basis by Waterfield and Stanford, a local lettings agency in Portsmouth. We would be recommending that any potential new landlord retain this relationship to retain continuity. The lettings agents have also shown a desire to continue managing the property and the appropriate introductions can be made on request.
Current Tenancy Status
Period contact with the tenant however she has been in the property for 12.5 years. The tenant has stated that they are looking to stay in the property on a long term basis.
Summerfield Court - Local Amenities and Information
Located in a popular residential area
Near all local transport links
Near local amenities
Summerfield Court - Purchase Process
1. Complete a reservation from to secure the unit and provide AML documents
2. Pay £1,250.00 plus VAT (50% of sourcing fee). Additional £1,250.00 plus VAT due on successful completion.
3. Solicitors instructed
4. Balance due on completion.
Note - Please note that Portfolio8 has not visited this property and that all material has been provided by the vendor.
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