Freehold Mixed Investment In Hove Producing £36,640 per annum

The building forms part of a terrace on the south side of Portland Road. This four storey property consists of a ground floor commercial unit, with w/c. Additionally there are 2 flats accessed via the rear of the building, with their own private entrances. The ground floor studio flat comprises, studio room with shower, kitchenette and separate WC. The lower ground floor flat comprises 2 double bedrooms both with en-suite shower rooms, and an open plan kitchen/living room. The flat benefits from a private south facing garden and separate patio area. The upper maisonette has been sold off on a long lease. Situation Portland Road is located in central Hove and is surrounded by a number of independent shops and cafes, along with large commercial users such as Sainsburys, Costa Coffee and The Co-Op. Hove mainline railway station is just 0.6 miles from the property (London Victoria 61 mins). Location Pin (What3Words): expand.grab.young https://w3w.co/expand.grab.young 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 Accommodation Retail Unit - 35.6 sq.m Ground Floor Studio - 13.63 sq.m Lower Ground Floor Flat - 44.51 sq.m Tenure Freehold

Lot Type

Mixed Use

Accommodation

RETAIL UNIT Zone A - 4.4 x 4 - 17.6 Zone B - 4.2 x 4.4 (minus 1.2 x 0.4) - 18.0 Total Floor Area - 35.6 sq.m GROUND FLOOR STUDIO Studio Room (with Shower) - 4.7 x 2.9 Kitchenette - W/C - Total Floor Area - 13.63 sq.m LOWER GROUND FLOOR FLAT Open Plan Kitchen/Living Room - 4.1 x 5 Bedroom 1 - With En-suite - 3.6 x 4.1 Bedroom 2 - With En-suite - 3.7 x 2.5 Total Floor Area - 44.51 sq.m Tenancies Retail Unit - Let from 30th June 2022 and ending on, and including 29th June 2025 at an initial rent of £10,500 pa for the first year, £11,000 pa for the second year and £11,500 pa for the last year of the term. Ground Floor Studio Flat - Let on an Assured Shorthold Agreement for 6 months from 9th January 2018, at a rent of £650pcm or £7,800 pa. Lower Ground Floor Flat - Let on an Assured Shorthold Agreement for 6 months from 17th June 2021, at a rent of £1,025pcm or £12,300 pa. Rateable Value Retail uni

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.