TO BE SOLD BY PUBLIC AUCTION
THURSDAY 15th JANUARY 2026 (unless sold prior)
GUIDE PRICE: £470,000-£490,000
Of interest to investors: the substantial and well-situated DETACHED character property arranged as TWO LARGE SELF-CONTAINED HMO APARTMENTS (1 x 3 persons, 1 x 4, all en-suite), currently FULLY LET  and producing the equivalent (allowing for adjustment of the existing ten month occupancy) of £45,000 p.a. - a highly lucrative gross annual yield of around 9.5%.
Victoria Road North runs from Elm Grove junction to Fratton Bridge, No. 106 occupying a prominent position on the road's east side, diagonally opposite the junction with Montgomerie Road. This exceptionally convenient location is some one mile only from Southsea Town Centre (Palmerston Road Shopping Precinct) and The Seafront, placing a wide range of public amenities within comfortable reach. Circa 1900, the building is of bold, double-fronted design with brick elevations under a modern, tiled roof, the facade incorporating gabled double square bay. It stands behind a shallow forecourt, whilst to the rear is a generous garden with side pedestrian access. PLANNING/OCCUPANCY: consent was granted in 1995 for conversion of former offices into two self-contained apartments. In November 2011 further approval was given for C3/C4 (HMO) use upon both units. Each is now let to students, the Ground Floor Flat (4 sharers) at £2,100 pcm, the First Floor Flat (3 sharers) at £1,650 pcm, both for a period of 10 months, expiring on the 30th June 2026. It may be of interest to potential buyers that the adjacent property, No. 104, was granted approval in 2024 for conversion into 5 self-contained flats. Full particulars are given as follows: Pair of storm doors to: LOBBY Circuit breakers and meters. Inner doors to Flats A & B. 106b (GROUND FLOOR) Entrance Hall Double panel radiator. Access to Basement. Kitchen - 4.27m x 3.58m (14'0" x 11'9") Fitted and equipped with: base and wall cupboards, work surfaces, 1½  bowl single drainer inset sink with mixer tap, electric oven, and 4-ring gas hob with extractor. Plumbing for washing machine. Double panel radiator. 'Vaillant' gas fired central heating and hot water boiler. UPVC and double-glazed door to rear garden. Room One - 3.1m x 2.84m (10'2" x 9'4") UPVC double-glazing to front square bay window. En-suite Shower & W.C. Shower cubicle, handbasin, low flush w.c. UPVC double-glazing to front square bay. Room Two - 3.05m x 2.97m (10'0" x 9'9") UPVC replacement double-glazed window to rear elevation. Single panel radiator. Study recess with further double-glazed window.  Shower cubicle, handbasin, low flush w.c. - 3.61m x 2.24m (11'10" x 7'4") UPVC replacement double-glazed window to rear elevation. Double panel radiator. Similar to above. Comprising: - 2.87m x 2.44m (9'5" x 8'0") Similar to above. - 4.27m x 2.54m (14'0" x 8'4") UPVC replacement double-glazed window to front elevation. Double panel radiator. Tall UPVC replacement double-glazed window to side elevation. Double panel radiator. Stairs to Loft Room. - 3.61m x 2.62m (11'10" x 8'7") Fitted and equipped similarly to the Ground Floor Flat. 'Alpha' gas fired central heating and hot water boiler. Double panel radiator. UPVC replacement double-glazed window to rear elevation. - 2.39m x 1.83m (7'10" x 6'0") UPVC replacement double-glazed window to front elevation. Single panel radiator. - 3.61m x 2.69m (11'10" x 8'10") UPVC replacement double-glazed window to rear elevation. Similar to before. - 3.76m x 3.76m (12'4" x 12'4") UPVC replacement double-glazed window to rear elevation. Double panel radiator. Similar to before. Comprising: - 4.88m x 3.05m (16'0" x 10'0") Deep square bay window to front elevation having UPVC replacement double-glazing. Double panel radiator. - 3.81m x 2.36m (12'6" x 7'9") Similar to before. Deep square bay window to front elevation having UPVC replacement double-glazing. - 5.13m x 4.24m (16'10" x 13'11") UPVC replacement double-glazed window to front elevation. Double panel radiator.  Similar to before. Ceiling Height: 7'2 (2.18m) - 2.92m x 2.9m (9'7" x 9'6") Through to: - 3.76m x 3.3m (12'4" x 10'10") Not inspected. FRONT:  Shallow, walled and railed forecourt. REAR: Width: 41'0  (12.75m) Depth: 17'0 (5.18m) Generous garden with easterly aspect, walled surround, and side pedestrian access. Band 'tbc' Flat A - 'E' Flat B - 'D' By appointment with AUCTIONEERS & SOLE AGENTS, D. M. NESBIT & CO. (17954/051377) A Buyer's Premium of £450 + V.A.T., will be payable by the purchaser to the Auctioneers. An Auction Legal Pack (including Contract of Sale and Special Conditions) will be prepared by the Seller's Solicitors and available for inspection. Bidders are advised to make themselves aware of the content of the Legal Pack, containing, as it will, information in respect of any other charges that may apply (Search Fees and/or Seller's legal costs for example).