A freehold block of seven shops and seven flats in Fareham is being auctioned this month with a guide price of £1 million.

The property at 98-124 Miller Drive is among lots listed by Clive Emson Auctioneers, which has its regional office at Whiteley, near Fareham.

Mike Marchant, a senior auction appraiser in Hampshire for the firm, said: “We anticipate keen interest from investors – the gross yield at the guide price represents nearly 9 per cent, a respectable return.”

He added: “Located in a popular residential area of Fareham, this substantial freehold block comprises seven flats and seven shops.

“Five of the flats have been sold under the terms of long leases, with the remaining two let under the terms of assured shorthold tenancy agreements.

“The seven commercial units are let to a variety of occupiers, with three operating as a day nursery.”

READ MORE: Exquisite 7-bedroom Southampton home on sale for £1.1m

A freehold development site of nearly one acre is at Hope Lodge Close, Fareham, with a guide price of £750,000 - £850,000.

Mike said: "Located in the northern part of the popular town of Fareham, this freehold site sits adjacent to a recent development of seven detached houses and has outline consent for the construction of seven further dwellings.

"The proposed accommodation comprises one detached four-bedroom house and six three-bedroom dwellings, each with two allocated parking spaces."

Situated on the bank of the River Wallington is Rivermead, a four-bedroom detached house on 0.28 acres in Spurlings Road, Fareham, with a guide price of £220,000.

Joe Rocks, auction appraiser, said: “Outside there is a garden area to the front with a lawn and flower beds, with hard-standing garden to the rear which would allow off road parking through the vehicle gates. There is also a garage/workshop and three smaller outbuildings.

“Whilst the house is in need of improvement it is worthwhile of the scheme of works required and once refurbished would be ideally suited to an owner occupier or for resale into the local market.”

Other properties up for auction include a flat with sea views at Lee-on-the-Solent has a guide price of £135,000 - £145,000, and a two-bedroom terraced house at 5 Verulam Road, Southampton, close to The Avenue.

The latter has a freehold guide price of £190,000 - £210,000.

Mike said: “The property, which is close to local shops, has been stripped back and is now awaiting refurbishment, following which it is considered ideal for letting or for re-sale into the local market.”

The auction ends on Wednesday, July 24, with bidding live 48 hours beforehand.