1-bedroom property · PO9 1ED
Sold STCListed 258 days
Opportunity summary
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About
A good-sized, one bedroom, ground floor retirement apartment in the sought-after Watermill Court, built by McCarthy & Stone.
Development manager and 24 hour alarm, with laundry facilities, communal gardens, guest facilities and residents' lounge. Set about 150m from Havant town centre.
A good-sized, one bedroom, ground floor retirement apartment in the sought-after Watermill Court development, built by McCarthy & Stone in 2004/5.
The development is set in a conservation area, amongst historical industrial buildings where parchments from animal skins were once produced, now converted in to residential properties.
Watermill Court has a development manager, 24 hour emergency call system, laundry facilities, communal gardens, guest facilities and a residents' lounge.
The shops, amenities and facilities of Havant town centre are just a short walk away (about 150m), including Waitrose, banking facilities, a library and post office.
Watermill Court is approached through secure gated access (both vehicular and pedestrian). The communal entrance leads past the manager's office and the residents' lounge to the entrance to Flat 5.
On entering the flat, an entrance hall has a phone entry system and features a large storage cupboard which houses the hot water tank.
The living room is a good size, with an exterior door to the left hand side opening out on to the communal gardens which is south facing.
The kitchen is accessed through double doors from the living room and features a range of floor and wall units with an integrated electric hob with filter hood over and an integrated eye-level oven, there is also an integral fridge and freezer.
The bedroom to the apartment is also a good size and offers a built-in wardrobe to one end. The shower room comprises of walk-in shower with seat, wash basin and wc.
Outside, accessible from the living room door, there are communal grounds and gardens around the building.
Lease: 125 Years from March 2005 Ground Rent: £ £197.50 (01/03/25-31/08/25) Service Charge: £1699.09 half yearly GROUND FLOOR ENTRANCE HALL LOUNGE- 5.39m (17'8") max x 3.39m (11'2") max KITCHEN- 2.75m (9') x 1.74m (5'9") BEDROOM 2 6.82m (22'4") including built-in wardrobes x 2.66m (8'9") max SHOWER ROOM
Value & comps
No previous sales on record.
Returns
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Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
Area
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FAQ
About Springwell, Havant, Hampshire, PO9
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