Festing Grove, Southsea, Hampshire

15 14

£1,150,000 Guide Price House of multiple occupation for sale

Studio 2 Kit Festing Grove 17.08.17-14.jpeg

Studio 2 wide Festing Grove 17.08.17-13.jpeg

Studio 6 bed Festing Grove 17.08.17-31.jpeg

Studio 6 kit Festing Grove 17.08.17-29.jpeg

Studio 7 Ensuite Festing Grove 17.08.17-44.jpeg

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Description

This pair of adjacent HMOs, comprising 15 letting rooms and licensed for 18 tenants, presents a rare high-income investment opportunity in Southsea. Fully let to working professionals, the properties generate £127,560 in annual rental income, delivering a strong gross yield of 11.09% with stable occupancy and dependable cash flow. Ideally situated near the seafront, the University of Portsmouth, shops, and major employers, the location ensures consistent tenant demand, while excellent rail connections to London and Southampton, alongside easy access to the M27, A3, and ferry routes, enhance its commuter appeal. With large-scale regeneration across Portsmouth and Southsea’s city centre and waterfront set to further drive demand and long-term capital appreciation, this portfolio represents a secure, income-generating opportunity in one of the South Coast’s most resilient and desirable rental markets.

Gross Yield: 11.09%

Income Breakdown (Monthly):

72 Festing Grove: Room 1a: £585.00 Room 1b: £640.00 Room 2: £700.00 Room 3: £735.00 Room 4: £650.00 Room 5: £585.00 Room 6: £715.00 Room 7: £720.00 74 Festing Grove: Room1: £900.00 Room 2: £795.00 Room 3: £690.00 Room 4: £750.00 Room 5: £695.00 Room 6: £695.00 Room 7: £775.00 Total Monthly Income: £10,630.00 Total Annual Income: £127,560.00

Expenditure Breakdown (Monthly):

Gas: N/A Electric: £458.00* Water: £171.92 Council Tax: £121.00 (Only applicable to Rooms 1a and 1b - All other rooms are responsible for their own Council Tax) TV License: £15.00 Broadband: £74.40 Cleaner: £144.00 Management (10%): £1,063.00 Total Monthly Expenditure: £2,047.32 Total Annual Expenditure: £24,567.84 * Electricity costs are offset by Landlord metering payments from most of the studio units. Approx annual billing by British Gas £12,500, Approx Income from Landlord metering £7,000 - Net cost £5,500 = £458pm

Investment Performance:

Net Annual Income: £102,992.16 Gross Yield: 11.09% Net Yield: 8.96%

Compliance and Licensing:

- 257 HMO License - EPC - EICR - Fire Risk Assessment - Emergency Lighting Inspection Certificate

Reference: XFG-61027572

Area Description

No area description is available for this property.

Additional Details

Bedrooms: 15 Bedrooms
Bathrooms: 14 Bathrooms
Ensuites: 13 Ensuites
Kitchens: 13 Kitchens
Tenure: Freehold
Rights and Easements: Article 4 Area
Risks: Ask Agent

Additional Features

Accessibility - Not Suitable for Wheelchair Users

Broadband Speeds

Download: 3mbps - 1000mbps
Upload: 0.5mbps - 1000mbps

Estimated broadband speeds provided by Ofcom for this property's postcode.

Features

Property Layout – Pair of adjacent HMOs with 15 letting rooms, licensed for 18 tenants
Tenant Type – Fully tenanted by working professionals, providing strong, stable rental income
Strategic Location – Prime Southsea location near seafront, university, shops and major employers
Transport & Connectivity – Excellent rail links to London & Southampton, plus easy M27/A3 access and ferry routes
Regeneration Benefits – Ongoing Portsmouth & Southsea waterfront and city centre regeneration boosting demand
High Rental Income & Strong Yield – Gross annual income £127,560 delivering 11.09% yield

Enquiry

To make an enquiry for this property, please call us on 0330 4415 888, or complete the form below.