COVID-19 – Important Auction Information
For Sale By Auction | 2.30pm, 22 September 2022

53 Tisbury Road, Hove, BN3 3BL

*Guide | £1,050,000 (plus fees)

  • Property For Sale
  • 7 Bedrooms

Call the team on 01273 201989 for more information

Auction Date

Thu 22/09/2022

Auction Time

2.30pm

Auction Venue

Live Stream

Freehold investment producing £62,495 per annum

An unusual opportunity to acquire this substantial semi detached freehold property, which has been converted into 10 self contained units. Within the freehold includes 7 flats which are currently let on Assured Shorthold Agreements producing £62,220 per annum. The remaining 3 flats in the building have been sold off on long leases, producing a ground rent income of £275.00 per annum. Situation Situated just North of Church Road being the main shopping thoroughfare with bars and restaurants, and is within walking distance to Hove seafront and promenade - this is a fantastic location in Central Hove. Hove mainline station is a 5 minute walk to the North (London Victoria 67 minutes) NB WE DRAW YOUR ATTENTION TO THE SPECIAL CONDITIONS IN THE LEGAL PACK, REFERRING TO OTHER CHARGES IN ADDITION TO THE PURCHASE PRICE. PLEASE ENSURE YOU READ THE SPECIAL CONDITIONS THOROUGHLY Rent Flat 3 - £880 pcm (rolling contract) Flat 4 - £650 pcm (rolling contract) Flat 5 - £800 pcm (fixed term until August 2022) Flat 6 - £775 pcm (rolling contract) Flat 8 - £750 pcm (rolling contract) Flat 9 - £650 pcm (rolling contract) Flat10 - £680 pcm (rolling contract)

Lot Type

Residential

Accommodation

Flat 3 - (1 Bed Ground Floor Rear, with part of the garden) - 39 sqm Flat 4 - (Studio Ground Floor Front) - 24 sqm Flat 5 - (1 Bed First Floor Rear) - 34 sqm Flat 6 - (1 Bed First Floor Front) - 33 sqm Flat 8 - (1 Bed Second Floor Front) - 36 sqm Flat 9 - (Studio Third Floor Rear) - 37 sqm Flat 10 - (Studio Third Floor Front) - 25 sqm Leases Flat 1 - 99 year lease from 25th March 1989 - 66 years remaining Flat 2 - 125 year lease from 1st June 2007 - 110 years remaining Flat 7 - 125 year lease from 1st June 2007 - 110 years remaining Ground Rents Flat 1 - Current rent £75 pa increasing every 25 years in the term £110/£175 Flat 2 - Current rent £100 pa doubling every 25 years Flat 7 - Current rent £100 pa doubling every 25 years EPC's Flat 3 - E Flat 4 - E Flat 5 - E Flat 6 - D Flat 8 - D Flat 9 - G Flat 10 - F Tenure - Freehold

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)

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