House For Sale £1,600,000
FREEHOLD RESIDENTIAL INVESTMENT CONSISTING OF 9 FLATS & 7 BUNGALOWS
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
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
