WHEN it comes to buying a flat or an appartment, wise souls will often warn you about freeholds and leaseholds.

And perhaps this listing on RightMove is an example why.

Currently the cheapest offering across Hampshire, estate agents Fox & Sons are auctioning off the freeholds to three apartment blocks in Southampton tomorrow.

And the cheapest one, starting for £5,000, would see the rights to the freehold given to the highest bidder. 

In practical terms this means the individual or management company can set the ground rents, which are currently £450 for each inhabitant a year. 

Aspiring landlords will be battling it out to get the freehold for this block of flats in Tennyson Road in Portswood.

The freehold has a starting value of £5,000 - cheaper than seven nights in the Maldives or a second-hand Volvo. 

We have scoured RightMove and this listing is actually the cheapest on offer across the county of Hampshire right now. 

Andover Advertiser: Image: RightmoveImage: Rightmove

The property on Tennyson Road consists of 6 purpose built one bedroom apartments, alongside off road parking and small communal grounds.

Tennyson Court is located within the heart of a main residential and investment area of Southampton within close proximity of the two main Universities.

The property was built in the mid to late 1980s and is arranged with three flats on each floor.

It is up for online auction for a guide price of £5,000 and bidding commences on Wednesday, March 10.

On the property's website, it says: " Each flat has been sold on 125 year leases dated from 29/09/1987 with initial ground rents of £50 pa, rising every 25 years to a final payment of £150 pa. Total current Ground Rents payable - £450 pa.”

For more information about the property visit Rightmove here or call Fox & Sons on 02380 338066.