A record price for residential property in Portsmouth was achieved at auction last month when £3.2m was paid for a Victorian property.
The Friary, a Grade II listed building in Southsea, was built in 1851 by noted local architect Thomas Ellis Owen as a “model lodging house”. It has been turned into 23 flats and a shop, producing an income of £180,000 pa.
The property was sold by Portsmouth auctioneers Nesbits prior to its 27 September sale. Auctioneer David Nesbit said it was the highest price paid for a residential property offered in the city.
“The sale is a reflection of investment interest in the city and the demand for an exceptional building and investment,” he said.
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