Summary - 143 NORTHERN PARADE PORTSMOUTH PO2 9PE
2 bed 1 bath Apartment
Investment refurbishment project near transport links and local amenities.
Ground-floor two-bedroom flat, vacant and auction sale six-week completion
Offered for sale by online auction with a six-week completion window, this ground-floor two-bedroom flat is a vacant leasehold requiring full refurbishment. The property sits in a 1930s end-terrace block and presents clear scope for a budget-led renovation that could unlock rental income or resale value.
An investor-focused opportunity: the vendor’s estimated rent is around £1,200 PCM (condition-dependent), which the seller cites as a gross yield of approximately 14.4% PAX. The flat already has mains gas central heating, double glazing (install date unknown) and decent digital connectivity — useful basics to improve and let quickly once renovated.
Important cautions: the lease has approximately 47 years remaining. That limited term is likely to restrict mortgage options and many lenders may refuse to lend. The property is being sold at auction and will require prompt completion. There is a medium flood risk and local crime levels are above average; the wider area is classified as deprived and described as a neighbourhood with many private renting new arrivals.
Practical positives and limitations are clear: proximity to local shops, transport links and several well-rated schools supports lettability, but expect upfront costs for renovation, potential lease extension, and any flood mitigation. This is best suited to a cash buyer or a specialist investor prepared to act quickly and budget for works and lease advice.
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