Sold STC Flat

4

DEVENISH HOUSE, 49, SOUTHGATE STREET, WINCHESTER, HAMPSHIRE SO23 9EH

2 beds 2 baths Listed 2 Jun 2026 (-22d)

£475,000

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# 2 bedroom flat for sale (SO23 9EH)

## Property Details

| Key | Value |
|-----|-------|
| Address | 4, DEVENISH HOUSE, 49, SOUTHGATE STREET, WINCHESTER, HAMPSHIRE SO23 9EH |
| Price | £475,000 |
| Bedrooms | 2 |
| Bathrooms | 2 |
| Council tax | D |
| Last sold | £315,000 Sep 2023 |

## Description

Graham & Co are delighted to present to market this sharp and elegant two bedroom flat, located in a beautifully converted period building. Sold with no onward chain.

Converted from a stunning period building, this immaculate two-bedroom, two-bathroom first floor apartment offers refined living in the heart of the city.

The stylish apartment provides contemporary and practical living, with the open plan kitchen/diner flowing seamlessly into the cosy living area. Ample work surfaces accompany integrated appliances and excellent storage in the kitchen.

The two bedrooms both benefit from ensuite facilities with shower and bath respectively. A further cloakroom and storage cupboard from the hallway provide comfort and convenience.

Located on the first floor, the apartment benefits from a westerly aspect from the three Juliet balconies and an allocated undercover car parking space, with convenience to the lift. There is secure intercom access from Southgate Street.

The sale of Devenish House benefits from no onward chain.

**Winchester** - The historic city of Winchester is located on the doorstep, providing numerous shops, boutiques, coffee shops, fine restaurants and contemporary bars, as well as the famous Cathedral, beautiful Water Meadows and numerous other cultural amenities.

Devenish House is located within 0.6 miles of the railway station with direct trains to London Waterloo take approximately an hour. Further transport links are excellent, with easy access to the A34, M3 and M27.

## Property Photos

- ![Ph3_6609811.jpg](/listings/photos/89201289/715972) - Ph3_6609811.jpg
- ![Ph10_6609819.jpg](/listings/photos/89201289/715973) - Ph10_6609819.jpg
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- ![Ph6_6609815.jpg](/listings/photos/89201289/715978) - Ph6_6609815.jpg
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- ![Ph18_6609827.jpg](/listings/photos/89201289/715988) - Ph18_6609827.jpg
- ![Ph19_6609828.jpg](/listings/photos/89201289/715989) - Ph19_6609828.jpg
- ![Ph2_6609810.jpg](/listings/photos/89201289/715990) - Ph2_6609810.jpg
- ![Ph4_6609813.jpg](/listings/photos/89201289/715991) - Ph4_6609813.jpg

## Floorplans

- ![Final_1306767_Flat-4-Devenish_300526110216897.jpg](/listings/photos/89201289/715992) - Final_1306767_Flat-4-Devenish_300526110216897.jpg

## EPC Graphs

- ![EE Rating](/listings/photos/89201289/715993) - EE Rating

## Sales History

*Recorded sales for this property. Data from Land Registry Price Paid.*

| Address | Price | Date | Type |
|---------|-------|------|------|
| DEVENISH HOUSE, 49 4 SOUTHGATE STREET, WINCHESTER, HAMPSHIRE, SO23 9EH | £315,000 | 19/09/2023 | Flat |

## Sold Comparables

*Same street and nearby sales within 0.25 miles. Data from Land Registry Price Paid. Last 5 years.*

| Address | Price | Date | Type |
|---------|-------|------|------|
| ST. MICHAELS HOUSE APARTMENTS, 8 3 ST CROSS ROAD, WINCHESTER, HAMPSHIRE, SO23 9HX | £525,000 | 24/01/2025 | Flat |
| [Same street] CHERNOCKE PLACE, 35 SOUTHGATE STREET, WINCHESTER, HAMPSHIRE, SO23 9EH | £1,040,000 | 11/08/2023 | Terraced |
| [Same street] DEVENISH HOUSE, 49 7 SOUTHGATE STREET, WINCHESTER, HAMPSHIRE, SO23 9EH | £537,500 | 03/07/2023 | Flat |
| [Same street] DEVENISH HOUSE, 49 6 SOUTHGATE STREET, WINCHESTER, HAMPSHIRE, SO23 9EH | £476,000 | 19/06/2023 | Flat |
| [Same street] DEVENISH HOUSE, 49 3 SOUTHGATE STREET, WINCHESTER, HAMPSHIRE, SO23 9EH | £470,000 | 25/05/2023 | Flat |
| [Same street] DEVENISH HOUSE, 49 5 SOUTHGATE STREET, WINCHESTER, HAMPSHIRE, SO23 9EH | £467,500 | 19/05/2023 | Flat |
| LIONS HALL FLAT 26 ST SWITHUN STREET, WINCHESTER, HAMPSHIRE, SO23 9HW | £295,000 | 17/02/2023 | Flat |
| ST. MICHAELS HOUSE APARTMENTS, 8 1 ST CROSS ROAD, WINCHESTER, HAMPSHIRE, SO23 9HX | £435,000 | 30/01/2023 | Flat |
| [Same street] DEVENISH HOUSE, 49 1 SOUTHGATE STREET, WINCHESTER, HAMPSHIRE, SO23 9EH | £565,000 | 16/12/2022 | Flat |
| LIONS HALL FLAT 21 ST SWITHUN STREET, WINCHESTER, HAMPSHIRE, SO23 9HW | £365,000 | 09/12/2022 | Flat |
| 1 FLAT 2 ST CROSS ROAD, WINCHESTER, HAMPSHIRE, SO23 9JA | £350,000 | 09/12/2022 | Flat |
| [Same street] DEVENISH HOUSE, 49 8 SOUTHGATE STREET, WINCHESTER, HAMPSHIRE, SO23 9EH | £525,000 | 04/11/2022 | Flat |
| [Same street] DEVENISH HOUSE, 49 2 SOUTHGATE STREET, WINCHESTER, HAMPSHIRE, SO23 9EH | £462,000 | 26/10/2022 | Flat |
| [Same street] DEVENISH HOUSE, 49 9 SOUTHGATE STREET, WINCHESTER, HAMPSHIRE, SO23 9EH | £437,000 | 12/08/2022 | Flat |
| ST. MICHAELS HOUSE APARTMENTS, 8 2 ST CROSS ROAD, WINCHESTER, HAMPSHIRE, SO23 9HX | £730,708 | 08/07/2022 | Flat |
| ST. MICHAELS HOUSE APARTMENTS, 8 4 ST CROSS ROAD, WINCHESTER, HAMPSHIRE, SO23 9HX | £785,000 | 10/05/2022 | Flat |
| ST. MICHAELS HOUSE APARTMENTS, 8 6 ST CROSS ROAD, WINCHESTER, HAMPSHIRE, SO23 9HX | £785,000 | 10/05/2022 | Flat |
| ST. MICHAELS HOUSE APARTMENTS, 8 7 ST CROSS ROAD, WINCHESTER, HAMPSHIRE, SO23 9HX | £807,500 | 01/01/2022 | Flat |

**Street average:** £553,333 (9 sales)
**Area average:** £564,245 (9 sales)

## Price vs local average

*Outcode + property type (HousePrices, last 2 years).*

- **Local average:** £295,891 (23 Flat, SO23, 2024–2026)
- **Deviation:** +60.5%

## Rental Range

*ONS Price Index of Private Rents (Winchester). Low / Realistic / Optimistic = conservative / average / best case.*

- **Low:** £1,355/mo
- **Realistic:** £1,505/mo
- **Optimistic:** £1,656/mo

## LHA (Local Housing Allowance)

*VOA 30th percentile rent floor for Winchester (Apr 2025 – Mar 2026).*

- **LHA floor (this property size):** £1,047/mo

## Rental Comparables

*Residential lets from OpenRent and Rightmove for the area (same bedroom count). Use to validate rent estimates. Student lets are excluded.*

| Title | Rent | Beds | Distance | As seen on |
|------|------|------|------|------|
| 2 Bed End Terrace, Water Lane, SO23 | £2,200/mo | 2 | 0.46 miles | OpenRent |
| 2 Bed Flat, Grange Close, SO23 | £1,500/mo | 2 | 1.05 miles | OpenRent |
| 2 Bed Terraced House, Grange Close, SO23 | £1,950/mo | 2 | 1.05 miles | OpenRent |

**Average rent: £1,883/mo (3 listings)**

## 1% Rule

- **Rent ratio:** 0.41% (weak for cashflow)
- **Max investor price (0.8%):** £243,750
- **Target investor price (1%):** £195,000

*Monthly rent ÷ price. 1%+ = strong, 0.8–1% = okay, <0.8% = weak. Max investor price = rent ÷ 0.8% (Stoke-style target). Target investor price = rent ÷ 1% (strong cashflow band). Based on OpenRent comparables.*

## Rent-driven metrics

*Based on OpenRent comparables (median £1,950/mo).*

- **Gross yield:** 4.9%
- **Cost-to-rent:** 20.3×
- **Monthly cashflow:** £-141/mo (75% LTV, 3.95% APR (5yr fixed), 25yr term)
- **Cash-on-cash ROI:** -1.2%

*Gross yield = annual rent as % of price (no costs). Cost-to-rent = price ÷ annual rent (from OpenRent comparables); under 14× = strong, 14–16× = acceptable, 17×+ = compressed. Cashflow = rent − mortgage − 10% maintenance − £25/mo compliance; assumes 75% LTV, 3.95% APR (5yr fixed), 25yr term. ROI = annual profit ÷ cash in (deposit + 4% purchase costs).*

## Capital growth trend

*Land Registry outcode average from sold prices: last 12 months vs 5y and 10y ago.*

- **5y growth:** -5.5%
- **10y growth:** -18.6%

## House Price Index (HM Land Registry)

*Official index for Winchester; Flats and maisonettes series; as of March 2026.*

- **1y growth (index):** -2.9%
- **5y growth (index):** 0%
- **10y growth (index):** 4.1%

## Flood risk

- **Zone:** 1
- **Risk:** Low
- **Source:** Job (default Low)

[Check long-term flood risk (GOV.UK)](https://check-long-term-flood-risk.service.gov.uk/postcode)

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Property details

Tenure

SHARE_OF_FREEHOLD (119 years remaining on lease)

Council tax band

Last sold

£315,000 Sep 2023

Local average

£295,891 (+60.5%)

Deprivation

Decile 8 (24,676 of 33,755)

Street crime

276 incidents within 1 mile (Apr 2026)

Key features

No onward chain
Stunning period conversion
Contemporary interiors
Two bedrooms
Two bathrooms
Open plan living
Allocated parking

Additional details

Electricity: Mains supply
Water: Mains supply
Sewerage: Mains supply
Heating: Electric
Parking: Residents

Description

Graham & Co are delighted to present to market this sharp and elegant two bedroom flat, located in a beautifully converted period building. Sold with no onward chain.

Converted from a stunning period building, this immaculate two-bedroom, two-bathroom first floor apartment offers refined living in the heart of the city.
The stylish apartment provides contemporary and practical living, with the open plan kitchen/diner flowing seamlessly into the cosy living area. Ample work surfaces accompany integrated appliances and excellent storage in the kitchen.
The two bedrooms both benefit from ensuite facilities with shower and bath respectively. A further cloakroom and storage cupboard from the hallway provide comfort and convenience.
Located on the first floor, the apartment benefits from a westerly aspect from the three Juliet balconies and an allocated undercover car parking space, with convenience to the lift. There is secure intercom access from Southgate Street.
The sale of Devenish House benefits from no onward chain.

Winchester - The historic city of Winchester is located on the doorstep, providing numerous shops, boutiques, coffee shops, fine restaurants and contemporary bars, as well as the famous Cathedral, beautiful Water Meadows and numerous other cultural amenities.
Devenish House is located within 0.6 miles of the railway station with direct trains to London Waterloo take approximately an hour. Further transport links are excellent, with easy access to the A34, M3 and M27.

Listed by

Winchester

Graham & Co

Reference: 89201289

Flood risk

Zone: 1

Risk: Low

Job (default Low)

Floorplans

Final_1306767_Flat-4-Devenish_300526110216897.jpg

EPC Graphs

EE Rating

Price history

Event	Date	Price	% change
Listed for sale	—	£475,000	+50.8%
Sold	19/09/2023 (2 years ago)	£315,000	—

Source: HM Land Registry Price Paid Data. Crown copyright.

Sold Comparables

Same street and nearby sales within 0.25 miles (last 5 years). Data from Land Registry Price Paid.

Address	Price	Date	Type
ST. MICHAELS HOUSE APARTMENTS, 8 3 ST CROSS ROAD, WINCHESTER, HAMPSHIRE, SO23 9HX	£525,000	24/01/2025	Flat
Same street CHERNOCKE PLACE, 35 SOUTHGATE STREET, WINCHESTER, HAMPSHIRE, SO23 9EH	£1,040,000	11/08/2023	Terraced
Same street DEVENISH HOUSE, 49 7 SOUTHGATE STREET, WINCHESTER, HAMPSHIRE, SO23 9EH	£537,500	03/07/2023	Flat
Same street DEVENISH HOUSE, 49 6 SOUTHGATE STREET, WINCHESTER, HAMPSHIRE, SO23 9EH	£476,000	19/06/2023	Flat
Same street DEVENISH HOUSE, 49 3 SOUTHGATE STREET, WINCHESTER, HAMPSHIRE, SO23 9EH	£470,000	25/05/2023	Flat
Same street DEVENISH HOUSE, 49 5 SOUTHGATE STREET, WINCHESTER, HAMPSHIRE, SO23 9EH	£467,500	19/05/2023	Flat
LIONS HALL FLAT 26 ST SWITHUN STREET, WINCHESTER, HAMPSHIRE, SO23 9HW	£295,000	17/02/2023	Flat
ST. MICHAELS HOUSE APARTMENTS, 8 1 ST CROSS ROAD, WINCHESTER, HAMPSHIRE, SO23 9HX	£435,000	30/01/2023	Flat
Same street DEVENISH HOUSE, 49 1 SOUTHGATE STREET, WINCHESTER, HAMPSHIRE, SO23 9EH	£565,000	16/12/2022	Flat
LIONS HALL FLAT 21 ST SWITHUN STREET, WINCHESTER, HAMPSHIRE, SO23 9HW	£365,000	09/12/2022	Flat
1 FLAT 2 ST CROSS ROAD, WINCHESTER, HAMPSHIRE, SO23 9JA	£350,000	09/12/2022	Flat
Same street DEVENISH HOUSE, 49 8 SOUTHGATE STREET, WINCHESTER, HAMPSHIRE, SO23 9EH	£525,000	04/11/2022	Flat
Same street DEVENISH HOUSE, 49 2 SOUTHGATE STREET, WINCHESTER, HAMPSHIRE, SO23 9EH	£462,000	26/10/2022	Flat
Same street DEVENISH HOUSE, 49 9 SOUTHGATE STREET, WINCHESTER, HAMPSHIRE, SO23 9EH	£437,000	12/08/2022	Flat
ST. MICHAELS HOUSE APARTMENTS, 8 2 ST CROSS ROAD, WINCHESTER, HAMPSHIRE, SO23 9HX	£730,708	08/07/2022	Flat
ST. MICHAELS HOUSE APARTMENTS, 8 4 ST CROSS ROAD, WINCHESTER, HAMPSHIRE, SO23 9HX	£785,000	10/05/2022	Flat
ST. MICHAELS HOUSE APARTMENTS, 8 6 ST CROSS ROAD, WINCHESTER, HAMPSHIRE, SO23 9HX	£785,000	10/05/2022	Flat
ST. MICHAELS HOUSE APARTMENTS, 8 7 ST CROSS ROAD, WINCHESTER, HAMPSHIRE, SO23 9HX	£807,500	01/01/2022	Flat

Street average: £553,333 (9 sales)

Area average: £564,245 (9 sales)

Capital growth trend

Land Registry outcode average: last 12 months vs 5y and 10y ago (from sold prices).

5y growth -5.5%

10y growth -18.6%

House Price Index (HM Land Registry — official index, not sold-price averages): Winchester. Series: Flats and maisonettes. As of March 2026.

1y (index) -2.9%

5y (index) 0%

10y (index) 4.1%

Company ownership

Registered legal owner is a company.

Company-owned (UK company)

Company: GREENE KING RETAILING LIMITED (5265451)

Rental Range

Estimated market rent for Winchester. Low = conservative, Realistic = average, Optimistic = best case.

Low £1,355/mo

Realistic £1,505/mo

Optimistic £1,656/mo

Based on Local Authority from postcode lookup → Winchester.

LHA (30th percentile) floor for Winchester: £1,047/mo (Apr 2025 – Mar 2026)

Location

Map view View on Google Maps View on OpenStreetMap Street View SO23 9EH

Address

53 Southgate Street

Nearby

Nearest stations, universities and amenities (distance from property).

Type	Name	Distance
Bus stop	St. Thomas Church	0.1 miles
Shop	Cathedral Gift Shop	0.1 miles
Shop	Old Fashioned Sweetie Shop	0.2 miles
Train station	Winchester	0.5 miles
Train station	Shawford	2.7 miles
University	Boldrewood Innovation Campus	9.3 miles
University	South Academic Block	10.3 miles
Hospital	Royal South Hants Urgent Treatment Centre	10.8 miles

Street-level crime

Category	Count
Violence and sexual offences	90
Drugs	35
Shoplifting	35
Public order	33
Anti-social behaviour	26
Other theft	13
Vehicle crime	11
Criminal damage and arson	9
Other crime	8
Burglary	6
Bicycle theft	3
Possession of weapons	3
Robbery	2
Theft from the person	2
Total incidents	276

Within 1 mile during Apr 2026. Source: data.police.uk (England & Wales).

Schools nearby

Nearest open schools with Ofsted ratings (England). Closed schools are not shown. Data from Get Information about Schools and Ofsted.

Name	Type	Distance	Ofsted
Swanwick Lodge	Other	0.2 miles	— (No rating)
The Pilgrims School	Other	0.2 miles	— (No rating)
Winchester College	Other	0.3 miles	— (No rating)
University of Winchester	Other	0.4 miles	— (No rating)
St Bede Church of England Primary School	Primary	0.5 miles	— (Inspected (no overall grade))

Rental Comparables

Residential lets from OpenRent and Rightmove for the area (same bedroom count). Use to validate rent estimates. Student lets are excluded.

Title	Rent	Beds	Distance	As seen on
2 Bed End Terrace, Water Lane, SO23	£2,200/mo	2	0.46 miles	OpenRent
2 Bed Flat, Grange Close, SO23	£1,500/mo	2	1.05 miles	OpenRent
2 Bed Terraced House, Grange Close, SO23	£1,950/mo	2	1.05 miles	OpenRent

Average rent: £1,883/mo (3 listings)

Rent-driven metrics

Based on OpenRent comparables.

Rent ratio 0.41%

Max investor price (0.8%) £243,750

Target investor price (1%) £195,000

Gross yield 4.9%

Cost-to-rent ratio 20.3×

Monthly cashflow £-141/mo 75% LTV, 3.95% APR (5yr fixed), 25yr term

Cash-on-cash ROI -1.2%

Rent ratio — Monthly rent ÷ purchase price (1% rule). 1%+ = strong, 0.8–1% = okay, <0.8% = weak for cashflow.
Max investor price — Rent ÷ 0.8%; the price at which rent would be 0.8% of price (Stoke-style target).
Target investor price — Rent ÷ 1%; the price at which rent would be 1% of price (strong cashflow band).
Gross yield — Annual rent as % of purchase price (no costs).
Cost-to-rent — Price ÷ annual rent (from OpenRent comparables). Under 14× = strong, 14–16× = acceptable, 17×+ = compressed.
Cashflow — Rent minus mortgage, 10% maintenance, £25/mo compliance. Assumes 75% LTV, 3.95% APR (5yr fixed), 25yr term.
ROI — Annual profit ÷ cash in (deposit + 4% purchase costs).

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