House For Sale £250,000
A detached, two storey Victorian property of brick elevations under a pitched, tiled roof, thought to date from around 1900 and situated on a road of predominantly residential dwellings in the suburb of Shirley, Southampton.
The main building was historically converted to create a hairdressing salon on the ground floor along with a studio apartment and 1-bedroom maisonette within the main house, the latter of which has been recently refurbished to a good standard. To the rear of the plot is a further self-contained, 1-bedroom annexe, which requires modernisation and improvement works prior to securing a new tenant. There is off-road parking to the front and rear of the building and free on-street parking.
The asset is multi-tenanted with a lease in place with a commercial tenant (hairdresser) and residential tenants on AST’s. Please note that the annexe to the rear is currently vacant. Our estimated rental value (erv) would be in the region of £25,800 p.a if the annexe unit were to be modernised and re-let, suggesting a gross yield of circa 10% before purchaser’s costs.<br /><br />Shirley is a popular residential area within walking distance of the extensive and varied shopping facilities found in Shirley High Street. The area benefits from regular bus services that pass nearby connecting to all parts of the city and recreational facilities can be found at nearby St. James Park and Shirley indoor swimming pool that is found in Kentish Road, whilst an indoor pool is also available at Regents Park School. Access points to the M3 and M27 motorways allow fast lines of communication to regional towns and cities and the central railway station is a 25 minute walk or short bus journey away. A variety of popular schools for all ages are found in the vicinity and are within easy travelling distance.
The main building was historically converted to create a hairdressing salon on the ground floor along with a studio apartment and 1-bedroom maisonette within the main house, the latter of which has been recently refurbished to a good standard. To the rear of the plot is a further self-contained, 1-bedroom annexe, which requires modernisation and improvement works prior to securing a new tenant. There is off-road parking to the front and rear of the building and free on-street parking.
The asset is multi-tenanted with a lease in place with a commercial tenant (hairdresser) and residential tenants on AST’s. Please note that the annexe to the rear is currently vacant. Our estimated rental value (erv) would be in the region of £25,800 p.a if the annexe unit were to be modernised and re-let, suggesting a gross yield of circa 10% before purchaser’s costs.<br /><br />Shirley is a popular residential area within walking distance of the extensive and varied shopping facilities found in Shirley High Street. The area benefits from regular bus services that pass nearby connecting to all parts of the city and recreational facilities can be found at nearby St. James Park and Shirley indoor swimming pool that is found in Kentish Road, whilst an indoor pool is also available at Regents Park School. Access points to the M3 and M27 motorways allow fast lines of communication to regional towns and cities and the central railway station is a 25 minute walk or short bus journey away. A variety of popular schools for all ages are found in the vicinity and are within easy travelling distance.
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