Floorplans
Auction Guide £800,000 to £825,000
CASH BUYERS ONLY
A very rare opportunity to be able to purchase this residential freehold part possession investment comprising of 3 self contained with significant future uplift potential, rarely available in today's market.
Schedule of Tenancies
2 Bedroom Ground Floor Flat with private west facing rear garden let to an Assured Shorthold Tenant at a passing rent of £1,025 pcm (£12,300 per annum)
First Floor Flat let to an Assured Shorthold Tenant at a passing rent of £1,000 pcm (£12,000 per annum)
Second (Top) Floor Flat let to a Statutory Tenant protected under the 1977 Rent Act at a passing registered rent of £855 pcm (£10,260 per annum) last registered on 3 August 2021 with the next increase able to be applied for from 3 May 2023
Total passing rent is £34,560 per annum however and as mentioned above, the rent in respect of the top floor flat is able to be applied for increase from 3 May 2023 whilst in the opinion of the auctioneers, the rent received in respect of the ground floor flat and the first floor flat are significantly under market value.
As a note of interest, we understand the property has be owned by the same family of the past 102 years.
Property details
- Auction Date: 22nd November 2022
- Incredibly Rare Opportunity
- Freehold Period Property as 3 Self Contained Flats
- 2 Assured Shorthold Tenancies and 1 Regulated Tenancy
- One of Hove's Finest Locations
- Significant Investment and Uplift Value
- Current Rental Income is 34,560 Per Annum
- EPC Ratings C,D,D
Auction Guide £800,000 to £825,000
CASH BUYERS ONLY
A very rare opportunity to be able to purchase this residential freehold part possession investment comprising of 3 self contained with significant future uplift potential, rarely available in today's market.
Schedule of Tenancies
2 Bedroom Ground Floor Flat with private west facing rear garden let to an Assured Shorthold Tenant at a passing rent of £1,025 pcm (£12,300 per annum)
First Floor Flat let to an Assured Shorthold Tenant at a passing rent of £1,000 pcm (£12,000 per annum)
Second (Top) Floor Flat let to a Statutory Tenant protected under the 1977 Rent Act at a passing registered rent of £855 pcm (£10,260 per annum) last registered on 3 August 2021 with the next increase able to be applied for from 3 May 2023
Total passing rent is £34,560 per annum however and as mentioned above, the rent in respect of the top floor flat is able to be applied for increase from 3 May 2023 whilst in the opinion of the auctioneers, the rent received in respect of the ground floor flat and the first floor flat are significantly under market value.
As a note of interest, we understand the property has be owned by the same family of the past 102 years.
