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Sold Prior | Lot 5

38 Church Road, Hove, East Sussex, BN3 2FN

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Sold Prior

  • Commercial Property

Call the team on 01273 201989 for more information

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Auction Date

Thu 10/06/2021

Auction Time

14.30pm

Auction Venue

Live Stream

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Substantial mixed investment in prominent location. Ground floor retail Let to Fish Tail Ltd trading as Cook with 4 flats over all producing £61,440 pa

A Victorian 6-storey part bay fronted mellow brick terrace property with commercial unit over ground floor and basement, and 4 flats above, which are accessed at the rear of the building via Second Avenue. There are 3 x 1 bedroom and 1 studio flat which are all let on Assured Shorthold Agreements and currently produce £34,440 per annum. The ground floor retail unit is let at £27,000 pa for a 10 year lease from 29th July 2011.

Situation

The building forms part of a terrace in this busy thoroughfare on the south side of Church Road, between Grand Avenue and Second Avenue. The area is populated by many well established independent traders including a wide ranging selection of restaurants, bars & coffee shops. Numerous buses serve the area & Hove railway station is within walking distance. The property lies within The Avenues Conservation area

Accommodation

Ground floor shop and basement 958sqft (89sqm) see floor plans.Let on effective FRI terms. Shop let on a 10 year lease from 29.07.11 Flat 1 - 644sqft (59.8sqm) Good size 1 Bedroom flat with large Living room with kitchen area: 18'1 x 17'4 (5.53m x 5.30m) Utility room on half landing. Let AST at £750pcm Flat 2 - 633sqft (58.8sqm) Good size 1 Bedroom flat with large Living room with kitchen area: 18'1 x 17'4 (5.53m x 5.30m) Utility room on half landing. Let AST at £750pcm Flat 3 - 531sqft (49.3sqm) 1 Bedroom flat with large Living room with kitchen Let AST at £795pcm Flat 4 - 452sqft (42sqm) Large studio room : 26'6 x 12'4 (8.08m x 3.76m) & recessed kitchen area: 9'10 x 6'6 (3.0m x 2.0m) Let on an AST at £525pcm

Important Notice to Prospective Buyers:

We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.

Additional Fees

Administration Charge - Purchasers will be required to pay an Administration fee of 0.5% (inc VAT) of the sale price, subject to a minimum of £1,500 (£1,250 plus VAT)

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.

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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. These include 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.