Property auction: Two garages and an access road to go under the hammer in Portsmouth
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TWO garages and an access road are set to be sold in Portsmouth.
Both lock-ups and the road will be put up for auction in a single lot – with a guide price of £15,000-plus.
The garages and the access road are at the back of 50 Wordsworth Avenue.
Rob Marchant, the Hampshire auctioneer for Portsmouth Property Association member Clive Emson, said: ‘Sadly, the two lock-ups aren’t likely to inspire any poetry despite the person the road was named after – they are in a state of disrepair, and one doesn’t even have a roof.
‘However, once restored it is considered that both garages will be ideal for use by the new owner or for letting to local tradespeople or residents.
‘The access road is also for freehold sale.
‘We anticipate keen interest.’
The joint auctioneers for the accumulated lot are Chinneck Shaw.
Bidding will start on March 21, and end on March 23.
The lot is among 132 others listed with land and property auctioneers Clive Emson across England and Wales.
Other properties for sale include a two-bedroom terraced house at 148 Fawcett Road, Southsea.
The guided freehold is £130,000-plus, with Mr Marchant describing it as ‘a doer-upper’, with ‘significant upgrading and refurbishment’ needed.
There is also a ground floor flat at 2, 73 Kingston Crescent, Portsmouth, going under the hammer.
Its guided leasehold is between £85,000 and £90,000, and is currently let at £6,000 per annum.
Mr Marchant said: ‘The flat is in good condition throughout and is considered idea for addition to an investment portfolio for the income it produces – the gross rental yield on £90,000 would be nearly 6.7 per cent, for example.
‘You wouldn’t get that kind of return with cash on deposit because of low interest rates and the corrosive effects of inflation.’