Homes under the hammer

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Homes across the Portsmouth region will go under the auctioneer’s hammer this month.

They are among 22 lots being sold by regional land and property auctioneers Clive Emson.

Generating an annual rental income of £7,440, a semi-detached bungalow with two bedrooms at 40 Queens Crescent, Stubbington, near Fareham, is guided freehold at £100,000-plus.

Property investors may also be interested in six bedsits in a mid-terrace, freehold property at 261 Forton Road, Gosport.

The guide is £175-185,000, with the annual combined rent for five of the six generating £17,420.

Rob Marchant, auctioneer, said: ‘The property is considered an ideal addition to a lettings portfolio. According to figures from the HomeLet Rental Index, the average rent in the south-east in the three months up to May 2015 was £940, with average rental values up 9.4 per cent.

‘Buy-to-let continues to appeal to investors in Britain’s record-low interest rate environment.’

Developers may be among those interested in a town office building at Portchester – numbers 229 and 227b West Street, which have a freehold guide price of £300-320,000 and £23-240,000 respectively.

Both lots are being offered for sale as one lot in the first instance.

Rob said: ‘They are a pair of adjacent detached buildings and both could continue as offices or they may be suitable for a number of alternative commercial uses, subject to all necessary consents being obtainable.

‘The local planning authority has already confirmed that prior approval is not required for a change of use from offices to dwelling house for both properties.

‘Prospective buyers may wish to consider full site redevelopment or conversion of the existing buildings into residential accommodation, perhaps as flats, subject to all additional consents being obtainable.’

Described as a spacious family home in the desirable village of Durley, between Bishops Waltham, Hedge End and Fair Oak, Beech Corner Cottage has an estimate of £255-265,000. Freehold, the property at Durley Brook Road has three double bedrooms. Unusually, the property once formed part of the attached car dealership, which continues to trade.

Starting at 11am, the latest auction takes place at the Ageas Bowl on Friday, September 18.

So far this year the independent firm has catalogued 721 lots across southern England and sold just less than £90m of property, with a success rate of 85 per cent-plus.