This property is no longer on the market
4 bedroom house
Key information
Property description & features
- Auction Date 28th June 2023
- Freehold Residential Investment
- As 3 Self Contained Flats
- Let To Assured Shorthold Tenants At £38,220 Per Annum
- Significant Scope To Increase Rents
- Break Up Discount Included
- Excellent Opportunity
- Highly Popular Location
Action Guide £600,000
Freehold Residential Investment comprising of 3 completely self contained flats.
GROUND FLOOR FLAT
1/2 bedroom flat with garden measuring approximately 53 sq m in size let to an Assured Shorthold Tenant at a passing rent of £900 pcm.
FIRST FLOOR FLAT
3 bedroom flat measuring approximately 68 sq m in size let to an Assured Shorthold Tenant at a passing rent of £1,5000 pcm.
SECOND FLOOR FLAT (TOP)
Studio flat with roof terrace measuring approximately 41 sq m in size let to an Assured Shorthold Tenant at a passing rent of £785pcm.
IN THE OPINION OF THE AUCTIONEERS, IT IS CONSIDERED THE RENT IS SIGNIFANTLY BELOW MARKET VALUE AND HAS MEANINGFUL SCOPE FOR RAISING, PARTICULARLY THE FIRST FLOOR FLAT WHICH UNDER REVISED REGULATIONS IS ABLE TO BE LET TO 3 SHARERS WITHOUT THE REQUIREMENT FOR AN HMO LICENCE.
Current passing rent of £38,220 per annum with significant scope to increase at the earliest opportunity as all of the tenancies are currently holding over via a periodic tenancy.
A meaningful break up discount has been included within the guide price offering immediate capital uplift if required.
Situated within the ever popular Poets Corner close to the city centre of Hove with is comprehensive range of shops, bars, restaurants, boutiques, coffee shops whilst there is easy access to Hove Mainline Railway Station and the seafront.
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Broadband availability and predicted speed: obtained from Ofcom on December 17, 2021
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Mobile phone signal availability and predicted strength: obtained from Ofcom on December 23, 2021
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Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
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Energy Performance data and Internal floor area: obtained on October 13, 2019 from The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
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