Elm Grove Victorian property with ground floor shop and flats sells at auction
Going, going, gone.
A mixed-use residential and commercial property in Elm Grove has sold at auction this month after being listed with a guide price of £495,000.
Consisting of four self-contained flats and a ground floor shop, the Victorian building is currently fully let at £54,060 per annum, making it a brilliant investment opportunity.
Joe Rocks, auction appraiser, previously said: “This Victorian building offers a commercial investment on the ground floor which is let under the terms of a commercial lease and four self-contained flats which are individually let on Assured Shorthold Tenancy agreements.
“Elm Grove is situated in central Southsea in a prominent position for hospitality businesses and only a short distance to Southsea seafront.
“The commercial element is currently occupied as a convenience store with a one-bedroom flat to the rear and with its own entrance, and the three flats above the shop share a communal entrance and stairwell.”
The property was sold by joint auctioneers Clive Emson Land and Property Auctioneers and Fry & Kent Southsea.