Description

  • Entire freehold grade I listed terraced property part let producing £66,000 p.a with potential for rental growth
  • Arranged as eight self-contained units on six floors/two flats vacant
  • Situated in one of Brighton’s most prestigious seafront squares
DESCRIPTION This freehold inner terraced grade I listed property is arranged as eight self-contained studio, one and two bedroom units. It has the use of over an acre of private landscaped gardens and at present produces approximately £66,000 per annum with possible rental growth. There is the potential to develop a basement store into a residential dwelling (subject to the necessary consents) and two of the flats are vacant. The ground floor studio requires refurbishment but the third and fourth floor two-bedroomed maisonette is suitable for re-letting. The building has been in the same ownership for over 60 years, has been well-maintained by the present owners and retains many original fixtures and fittings throughout.

Solicitors

Dean Wilson LLP, Ridgeland House, 165 Dyke Road, Brighton, BN3 1TL Tel: 01273 249200 FAO: Siobhan Cox

Accommodation

Column 1 Column 2
ACCOMMODATION
LOWER GROUND FLOOR:
FLAT 1:
FLAT 2:
Front studio flat with garden
Rear store rooms with potential to convert into studio unit (subject to necessary consents)
GROUND FLOOR:
FLAT 3:
FLAT 4:
Front studio flat requiring refurbishment
Rear one bedroom flat with patio
FIRST FLOOR:
FLAT 5:
Two bedroom flat with full length balcony occupying whole floor front to back
SECOND FLOOR:
FLAT 7:
FLAT 8:
Front one bedroom flat
Rear one bedroom flat
THIRD FLOOR:
FLAT 9:
Front two bedroom flat
FOURTH FLOOR:
FLAT 10:
Two bedroom split-level maisonette occupying rear third floor and whole of fourth floor
TENANCY SCHEDULE
Column 1 Column 2 Column 3 Column 4
FLAT NO: RENTAL STATUS TENANCY START/END DATE MONTHLY RENT
Flat 1 (Studio) 10 yr residential lease (non-assignable) 26/09/2014 £0 – contributes £1,000 p.a. towards maintenance
Flat 2 (Store room – potential to develop (subject to necessary consents)
Flat 3 (Studio) Vacant was let at £625
Flat 4 (1 bed) Assured shorthold tenancy 27/05/2014-26/05/2015 £950
Flat 5 (2 bed) Assured shorthold tenancy 20/03/2013-19/03/2015 £2,100
Flat 7 (1 bed) Assured tenancy Pre-1994 £655
Flat 8 (1 bed) Assured shorthold tenancy 24/11/2012-23/11/2014 £850
Flat 9 (2 bed) Assured shorthold tenancy 04/06/2014-04/02/2015 £895
Flat 10 (2 bed) Vacant was let at £950

Guide Price & Reserves

Generally speaking Guide Prices are provided as an indication of each seller’s minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.