The former Lougars Gym & Fitness Centre had once been the home of the action-hero-turned-politician during his time in the city in the 1960s.
Rob Marchant, Clive Emson’s Hampshire auctioneer and a member of Portsmouth Property Association, said: ‘A lot of people will have worked out at Lougars Gym & Fitness Centre, which counted Arnie “Mr Universe” Schwarzenegger as an illustrious member when he lived here in the city in the 1960s to train with the best.
‘The two-storey property is likely to attract keen interest, perhaps from previous users. Perhaps Arnie himself might want to make a bid for old time’s sake.
‘Planning permission is pending for three two-bedroom flats in the style of New York lofts.’
Elsewhere, a two-bedroom terraced house, said to be in a ‘poor state of repair and requiring significant upgrading and refurbishment’, is guided freehold at £130,000-plus and is at 148 Fawcett Road, Southsea.
Also in Southsea, at 114 Waverley Road, is a former warehouse arranged as three craft workshops/studios. Freehold, the guide price if £280-300,000.
Rob said: ‘The first and second floor units are let under the terms of short-term commercial licences while the ground floor unit is shortly to be vacated.
‘It is considered that the building is ideally suited to continued use in its current guise and for addition to an income-producing commercial property portfolio.
‘Alternatively, the building may have scope and potential for other uses including residential conversion, subject to all necessary consents being obtainable.’
A freehold three-bedroom house at 32 Langford Road, Buckland, is chalked for ‘significant upgrading and refurbishment’. with a guide price of £170-180,000, it is being sold by joint auctioneers are Chinneck Shaw.
Leasehold, with a guide price of £190-210,000, is a two/three-bedroom flat at 1, 39 High Street, Old Portsmouth. Joint auctioneers of the first-floor property, which has ‘splendid views of Portsmouth Cathedral from the living room’, are Fry & Kent.
Rob said: ‘The apartment is considered idea for continued use as a letting investment, for owner occupation or potentially for use as a weekend retreat or holiday home.’