Floorplans

Property details

  • Auction Date: 14th July 2022
  • Freehold Residential Investment
  • Potential Yearly Income of 17,010 GBP
  • Potential 9.7% Yield
  • Potential for Significant Uplift in Value
  • PD Rights for Additional Flats on Existing Roof
  • Further Development Opportunities within the Car Park (STNC)
FOR SALE BY AUCTION ON 14th July 2022
Auction Guide £175,000+

FREEHOLD INVESTMENT WITH DEVELOPMENT POTENTIAL (SPP)

Freehold for sale comprising of:
38 flats all sold of on long leases
11 car parking spaces with potential (once rented) to produce circa £13,200 per annum
Current ground rent income of £1,910 per annum
Current insurance commission income of £1,900 per annum
Therefore the property has a potential yearly income of circa £17,010 at a yield of 9.7%

In addition, it is considered that under Permitted Development Rights, further floors may be able to be added to the existing roof thereby affording additional flats to be built whilst within the existing car park, significant residential development is considered to be available (STNC)

All plans are for identification purposes and are not to be relied upon.

PLEASE NOTE THE SALE OF THIS PROPERTY WILL BE VIA PURCHASING THE SHARES OF THE OWNING COMPANY, PELHAM COURT BRIGHTON LTD, THEREBY OFFERING A SIGNIFICANT SAVING TO THE PURCHSER IN RESPECT OF SDLT (STAMP DUTY)


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Lextons Estate Agents