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 ASTs. 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 purchasers costs.