Flats to go under the hammer

HMS Victory and the Mary Rose Museum from the air     Picture: Shaun Roster

‘Nowhere in Europe offers everything Portsmouth does’

Have your say

IT is the sort of investment return in Portsmouth that even hedge fund managers in London wouldn’t sniff at.

With a reserve no higher than £1.1m, a fully let block of 12 flats at 39 to 47 Claremont Road, Fratton, is generating £86,440 per annum – equivalent to an inflation-busting return of 8.6 per cent at £1m.

The freehold property, built in 2008 as an income-producing investment for the current owner, is among 23 lots being sold by auctioneers Clive Emson.

Rob Marchant, the auctioneer, said: ‘We anticipate keen interest from investors trying to achieve decent returns in an era where interest rates are at a 300-year low.

‘Hedge fund managers would be happy with the inflation-busting returns offered by this property, let alone anyone local.’

Clive Emson’s next auction takes place at the Ageas Bowl at 11am on Wednesday, November 5.