This property is no longer on the market
Residential development
Property description & features
- Freehold Residential Investment
- Nine Flats - 8 x 1 Bedroom / 1 x 3 Bedroom
- Seven Bungalows - 6 x 1 Bedroom / 1 x 2 Bedroom
- Let on Assured Shorthold Tenancies
- Current Income £108,744 pa
- Estimate Rental Value £134,544 pa (Fully Let)
- Two Car Parks On-Site
- Communal Gardens
- Two Guest Rooms & Chapel On-Site
- Close Proximity to Local Amenities
Description - The nine flats are let on Assured Shorthold Tenancies, consisting of eight 1 bedroom flats and a larger 3 bedroom flat with a garage, accessed via a private driveway at 126 Crescent Drive North.
To the South of the flats are seven bungalows also let on Assured Shorthold Tenancies, consisting of six 1 bedroom bungalows and a larger 2 bedroom bungalow, all accessed via 134 Crescent Drive North.
The site also benefits from two car parks, communal gardens, two guest rooms and a Chapel.
There are possible development opportunities to add further units or re-develop the site, subject to necessary consents.
Situation - Local amenities within Woodingdean are just under a mile away on Warren Road, with a variety of independent shops, along with larger commercial users such as Tesco Express. Brighton mainline railway station is located 4 miles to the West, and Brighton's famous seafront and promenade is just under 4 miles away, with the historic village of Rottingdean just over 2 miles away.
Existing Rents - Current rent is approximately £108,744 per annum, but estimated rental value (if fully let) is £134,544 per annum.
All tenants have been served Section 21 Notice on 22nd August 2023, which expires on 24th October 2023.
Total Gia - 845.59 sqm (9,101.85 sq ft)
Tenure - Freehold
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