Network Auctions have been inundated with enquiries following the listing of 34 Tokar Street in Southsea, Hampshire, a two-bedroom terrace house with a guide price of just £80,000+, which would usually command over £200,000.
Why so cheap? The property has a life tenant. He is a single male aged 64 years old who will have the right to remain in the property rent free until their death or they permanently vacate. Toby Limbrick, auctioneer says, “Properties with life tenants are still quite unusual on the market, but they offer a unique investment for those who can see the longer term.”
Tokar Street will be sold online on 10th December.