EXCITING OPPORTUNITY TO PURCHASE MIXED-USE PROPERTY IN THE HEART OF SOUTHSEA, PORTSMOUTH

I have a fantastic residential investment opportunity available to buyers who are able to move quickly.

This 3-storey semi-detached residential property is laid out as 2 self-contained flats on the ground floor (a 1 bed & a 2
bed with a garden) and then the upper 2 stories consist of 6 large HMO rooms each with their own en-suites and
‘pot-noodle’ making stations, a communal kitchen and lounge area on each floor as well as basement storage.

The property’s locality is in a very popular residential location and is close to all local amenities and Portsmouth
Southsea seafront making it extremely desirable in terms of rental.

The ground floor flats have planning permission and you do have the option to split the title and create leases
meaning you’d be able to sell these flats individually if you so wish.

Research shows that similar 1 bed flats in the area are selling for £180, 000 and 2 beds with a garden for £220, 000
which would in itself gross around £400k for both.

The 6 HMO rooms are all up & running and licensed. The HMO section has grandfather rights as a C4, but any new
owner might want to put in for a certificate of lawful use or it might be possible to indemnify the planning status to
increase lending options. A further application could be made to increase the number of occupants to 8+ via a suis
generis planning application.

Due to owning other large 6 bed HMOs in the area, we know that a high end 6 bed HMO would realistically fetch
around £400k/£450k in this market meaning that the total GDV of this development will be in the region of around
£800k or £900k as a suis generis.

The rent roll is as follows:

6 bed HMOs combined rent = £3, 620
1 bed flat = £795
2 bed flat = £925
Total rent = £5, 290

FOR A QUICK SALE I AM LOOKING FOR OFFERS IN THE REGION OF £660 - £680K, AS NOTED ABOVE THE END GDV IS AROUND £800,000 to £900,000 SO I AM OFFERING A SIGNIFICANT DISCOUNT FOR A QUICK TURN-AROUND.

To register your interest, please contact my PA via pa@mikefrisby.co.uk