Investment in Palmerston Road, Southsea Sold

Holloway Iliffe & Mitchell are pleased to announce the sale of this substantial and prominent mixed investment based in Palmerston Road, Southsea. The property comprises 3 shops and 4 flats, and has been managed by Holloway Iliffe & Mitchell for in excess of 20 years.  The property, was given over to Holloway Iliffe & Mitchell in 1994 and since then Stuart Mitchell has undertaken all management issues on this property relating to lease renewals, rent reviews, lettings, maintenance, refurbishment, rating and dilapidations. Stuart Mitchell reports “This has been an extremely privileged instruction to have over such a long period of time and I am most grateful to our clients for their loyalty, hopefully reflecting the work I have provided for them over these years”. The building has now been sold to Charles Marks Holdings Ltd who are intending to continue to upgrade the building, providing more modern facilities to the upper parts and in time dealing with lease issues on the ground floor. Stuart Mitchell continues “There is still an immense amount of strong, local demand for investment opportunities in our region and even with the political unrest as a result of Brexit, many are taking the view that occupier demand remains strong and property reflects good returns on capital. Please take a moment to look at other available properties for investment and for sale on our new website.