House For Sale £400,000
For sale by auction on Thursday, 23 Sep 2021 at 2.30pm
Venue: Live Stream
Mixed investment in central Hove. Ground floor retail Let to Countryman Improvements Limited, with a recently modernised two bedroom first floor apartment all producing £20,000 pa (potential for increase)
A Victorian end of terrace, with commercial unit over ground and basement, and a two double bedroom first floor flat above, which the vendor advices had a major internal refurbishment carried out in 2019, consisting of new kitchen, bathroom and en-suite, re wired and re plastered, along with a new central heating system. The ground floor rear has been sold off on a long lease.
Tenancies
The commercial unit is let to Countryman Improvements Limited on a 6 year lease expiring December 2007 at a rent of £5,000 pa. Countryman Improvements Limited are now holding over. The tenant has indicated verbally they require a new lease and we estimate the current rack rent is £7,500 pa, but interested parties to satisfy themselves on this point.
Flat 1, Ground Floor sold off on a 189 year lease from 24/06/2004.
Flat 2, First Floor currently let on an AST at £1,250 pcm expiring on 09/01/2022
Situation
The building is situated at the end of a Victorian Terrace, in a prominent position on the corner of Sackville Road and Landseer Road. The area is populated by local residents, along with well established independent traders.
Accommodation
Living room 5.08 x 4.8
Kitchen/Dining room 4.71 x 2.87
Bedroom one 4.84 x 3.91
Bedroom two 4.82 x 3.74
Bathroom 3.16 x 1.87
En-suite 2.78 x 0.91
Ground floor retail space approximately 32 sq m
EPC Rating: D
Additional Fees
Administration Charge - Purchasers will be required to pay an Administration fee of 0.3% (0.25% plus VAT) of the sale price, subject to a minimum of £1,200 (£1,000 plus VAT)
Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Price Information
* Guides 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. Each 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.
Additional Fees Information
Please be aware there may be additional fees payable on top of the final sale price. This includes and are not limited to administration charges and buyer's premium fees payable on exchange, and disbursements payable on completion. Please ensure you check the property information page for a list of any relevant additional fees as well as reading the legal pack for any disbursements.
Venue: Live Stream
Mixed investment in central Hove. Ground floor retail Let to Countryman Improvements Limited, with a recently modernised two bedroom first floor apartment all producing £20,000 pa (potential for increase)
A Victorian end of terrace, with commercial unit over ground and basement, and a two double bedroom first floor flat above, which the vendor advices had a major internal refurbishment carried out in 2019, consisting of new kitchen, bathroom and en-suite, re wired and re plastered, along with a new central heating system. The ground floor rear has been sold off on a long lease.
Tenancies
The commercial unit is let to Countryman Improvements Limited on a 6 year lease expiring December 2007 at a rent of £5,000 pa. Countryman Improvements Limited are now holding over. The tenant has indicated verbally they require a new lease and we estimate the current rack rent is £7,500 pa, but interested parties to satisfy themselves on this point.
Flat 1, Ground Floor sold off on a 189 year lease from 24/06/2004.
Flat 2, First Floor currently let on an AST at £1,250 pcm expiring on 09/01/2022
Situation
The building is situated at the end of a Victorian Terrace, in a prominent position on the corner of Sackville Road and Landseer Road. The area is populated by local residents, along with well established independent traders.
Accommodation
Living room 5.08 x 4.8
Kitchen/Dining room 4.71 x 2.87
Bedroom one 4.84 x 3.91
Bedroom two 4.82 x 3.74
Bathroom 3.16 x 1.87
En-suite 2.78 x 0.91
Ground floor retail space approximately 32 sq m
EPC Rating: D
Additional Fees
Administration Charge - Purchasers will be required to pay an Administration fee of 0.3% (0.25% plus VAT) of the sale price, subject to a minimum of £1,200 (£1,000 plus VAT)
Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Price Information
* Guides 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. Each 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.
Additional Fees Information
Please be aware there may be additional fees payable on top of the final sale price. This includes and are not limited to administration charges and buyer's premium fees payable on exchange, and disbursements payable on completion. Please ensure you check the property information page for a list of any relevant additional fees as well as reading the legal pack for any disbursements.
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