Description

  • Freehold Residential Investment Producing £15,750 Per Annum
  • Arranged as Three Flats Over Two Floors – 2 Currently Let and One Sold Off on Long Lease
  • Centrally Located in the Port Hall District
LOCATION Stafford Road is situated in the Port Hall district of Brighton. The Seven Dials with its comprehensive local shops and amenities is located closeby with Brighton Mainline railway station within walking distance. DESCRIPTION This inner-terraced double fronted property is arranged as three flats over two floors. The first floor comprises one flat which has been sold off on a long lease offering ground rent income. On the ground floor there is currently a one bedroom flat and a studio flat with the potential to be converted into a one bedroom flat (subject to any necessary consents). The two flats on the ground floor are currently let on periodic assured shorthold tenancies at £650 per calendar month each providing for a total income of £15,750 Per Annum. TENURE Freehold, subject to existing tenancies.

Solicitors

ASB Law, Origin Two, 106 High Street, Crawley, West Sussex, RH10 1BF Tel: 01293 603600 FAO: Ian Greenfield

Accommodation

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ACCOMMODATION FLAT B STUDIO ROOM: 4.1m (into bay) x 3.5m (max). Original fireplace and cornicing. Leading to: KITCHEN: 3.2m x 3.1m. Comprising wall mounted and undercounter units, sink and drainer. Door to courtyard garden. SHOWER ROOM: White suite comprising shower cubicle, low level WC and pedestal wash basin. OUTSIDE: Courtyard garden. FLAT C LOUNGE WITH KITCHEN: 4.3m (into bay) x 3.5m (max). Original cornicing. Kitchen area comprises wall mounted and undercounter units, sink with drainer and space for large kitchen appliance. BEDROOM: 3.1m x 3m (narrowing to 2.2m). Door to garden. SHOWER ROOM: White suite comprising shower cubicle, low level WC and pedestal wash basin. OUTSIDE: Courtyard garden.
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TENANCY SCHEDULE FLAT A: (1st Floor Flat): Sold off on 125 year lease from 19th December 2003. GROUND RENT: £150 Per Annum SERVICE CHARGE: Contribution of 50% towards maintenance and insurance. FLAT B: Let on a periodic Assured Shorthold Tenancy for 1 year from 1st April 2014 at £650 per calendar month. FLAT C: Let on a periodic Assured Shorthold Tenancy for 1 year from 12th May 2014 at £650 per calendar month. TOTAL INCOME: £15,750 Per Annum

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.