Freehold Mixed Investment Ground Floor Commercial Unit And 4 Self Contained Flats

The building forms part of a terrace on the south side of Church Road close to the junction of Sackville Road. A 5 storey building comprising a ground floor commercial unit, with 4 self contained flats which are accessed via a separate entrance to Church Road. At the time of going to print the Auctioneers have not been able to fully inspect the property internally, so cannot confirm the condition or layout of the lower ground floor flat or flat 2. Situation Church Road is situated in central Hove and is populated by many well established independent traders, including restaurants, bars and coffee shops. Numerous buses serve the area and Hove Railway Station is within walking distance. Location Pin (What3Words): verge.risk.factor https://w3w.co/verge.risk.faster 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 Tenure - Freehold Tenancies Commercial unit - Let on a 7 year lease from the 1st September 2022, with tenant break clause on the fourth anniversary of the lease (2026). The rent is £16,000 per annum, 3 years upward only rent review-due September 2025. LOWER GROUND FLOOR Let on an Assured Shorthold Agreement for 12 months, from 16th March 2022, expired 15th March 2023 at a rent of £1,220pcm. The tenant is holding over. FLAT 1 Let on an Assured Shorthold Agreement for 12 months, from 9th September 2024, expiring 8th September 2025 at a rent of £1,400pcm. FLAT 2 We have been informed by the owner flat 2 is let on an Assured Shorthold Agreement. A copy of the AST agreement has been uploaded to the legal pack. FLAT 3 Let on an Assured Shorthold Agreement for 6 months, from 19th January 2015, expired 18th July 2015 at a rent of £925pcm. The tenant is holding over.

Lot Type

Freehold Mixed Commercial / Residential Investment

Accommodation

LOWER GROUND FLOOR FLAT - 70 sq.m. (1 bedroom flat) FLAT 1 - 56 sq.m. (2 bedroom flat) FLAT 2 - 52 sq.m. (2 bedroom flat) FLAT 3 - 59 sq.m. (2 bedroom flat) Total Floor Area – 237 sq.m Council Tax Flats 1, 2 & 3 - Band B EPC Rating - Lower Ground Floor Flat - C Flat 1 - D Flat 2 - TBC Flat 3 - D

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.