One-bedroom 13B South Bank was among 168 lots in the latest auction held by one of the top five property auctioneers in the UK, Clive Emson Land and Property Auctioneers.
Offered jointly with Hancock Lettings & Estate Agents, it was sold for £109,000 at the firm’s auction which ended on Thursday 1 May.
Auction Appraiser Joe Rocks said: “Our bidders could see the potential in this property, which was previously let at £10,740 per annum.
“We considered that it could be let again to generate a good income or would make an excellent city base for an owner-occupier.
“The location also provides easy access to the road and rail networks, making it a handy base for commuters.”
It is located just off the main A27 and A286 Stockbridge Road and only a short distance to the train station and town centre, with St Richard's Hospital and the University less than two miles away.
The property has its own dedicated area of garden within the communal gardens and a brick built outbuilding/workshop with power and water connected.
Tenure is the remainder of a 99-year lease from March 1997 at a current ground rental of £25 per annum, increasing throughout the term.
Clive Emson Auctioneers holds auctions eight times a year offering specialist advice for auction purposes with offices in Essex, Kent, Sussex, Hampshire and the West Country, selling with skill, speed and efficiency.
The next auction, the fourth of eight this year, goes live on 10 June and concludes on 12 June. Closing date for entries is 19 May with the catalogue available from 22 May.
See https://www.cliveemson.co.uk/ for more details.