£225,000 /Sale price

Premier Parade, Forest Hills Drive, Southampton presents an excellent opportunity to acquire a freehold mixed-use investment in a well-established neighbourhood parade within the popular residential area of Bitterne Park. The property comprises a ground floor commercial unit, currently let at £650 per calendar month and operating as a nail bar, together with a spacious three-bedroom split-level maisonette above, let at £1,050 per calendar month. The combined rental income of £20,400 per annum provides an immediate and reliable return, making it an attractive proposition for both seasoned investors and those seeking to expand a portfolio with a dual-income asset.The commercial unit forms part of a busy local parade serving a strong residential catchment, supporting consistent tenant demand, while the upper maisonette offers well-proportioned accommodation arranged over two floors with its own independent access, appealing to long-term residential tenants. The property further benefits from a garage and off-road parking for two vehicles to the rear of the block, enhancing both its practicality and rental appeal. The location offers excellent local amenities, reputable nearby schools and convenient access into Southampton city centre, further underpinning demand. Overall, this is a solid, income-producing investment with scope for future rental growth and long-term capital appreciation.Auctioneer Comments: This property is for sale by the Modern Method of Auction. Should you view, offer, or bid on the property, your information will be shared with the Auctioneer, iamsold Limited. This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyer’s solicitor. This additional time allows buyers to proceed with mortgage finance (subject to lending criteria, affordability, and survey). The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded. This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack. The buyer will also make payment of £300 including VAT towards the preparation cost of the pack, where it has been provided by iamsold. The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change. Referral Arrangements The Partner Agent and Auctioneer may recommend the services of third parties to you. Whilst these services are recommended as it is believed they will be of benefit; you are under no obligation to use any of these services, and you should always consider your options before services are accepted. Where services are accepted the Auctioneer or Partner Agent may receive payment for the recommendation and you will be informed of any referral arrangement and payment prior to any services being taken by you.