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
LOCATION Situated at the northern end of the square on the east side overlooking private landscaped gardens. The seafront and Brighton Marina are located a few hundred metres to the south with comprehensive local shopping facilities and amenities at St George’s Road and St James’s Street within ½ mile. Brighton city centre and mainline station can be found ¾ mile to the west with easy road access via A259 linking coastal towns and all surrounding areas. TENURE Freehold, subject to existing tenancies and vacant possession of flats 3 and 10 VIEWING ARRANGEMENTS There will be an opportunity to view the property on a twice-weekly basis on Wednesdays and Fridays at 10am up until the auction. Please note the tour of the building will start promptly at 10am, please ensure you arrive at the start if you wish to view the whole building.
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.