Location: The seven dials area is exceptionally popular with buyers wanting to live in a busy and vibrant area. There are numerous bars and restaurants catering for all tastes and expectations, all of which are within close proximity. Brighton mainline railway station is conveniently located for this location with frequent fast train to London Euston. Brighton Seafront and promenade are also within walking distance.
Description: Situated in the popular Seven dials area of Brighton and in a period residential block. The building is arranged over basement and 4 uppers floors. The AST flats are self contained and in reasonable decorative order, whilst having been let for many years. The flats provide an opportunity for upgrading and possible redevelopment which would enhance the income being generated and also the sale price.
User: We believe the premises fall under Class C3 Residential use of the Town & Country Planning (Use Class) (Amendment) Order 2005.
Accommodation: The property offers the following: Flat Floor Lease Expiry Years Remaining Ground Rent Rising
F1 LGF 2 bed flat AST expiring 04/04/2016 at £11,100 pa. 63 SQ M/ 678 SQ FT F2A LGF Studio flat AST expiring 20/03/2016 at £6,240 pa.24 SQ M / 258 SQ FT F2B LGF Studio flat AST expiring 13/07/2016 at £7,500 pa. 30 SQ M / 323 SQ FT F3 LGF 1 Bed flat AST expiring 28/05/2016 at £7,800 pa. 33 SQ M / 355 SQ FT F7 24/03/2084 68 £50 Yes F8 25/03/2111 95 £100 Doubling 25 yrs F9 22/02/2109 93 £100 Doubling 25 yrs F10 24/03/2089 73 £75 £25 every 25 yrs F11 24/03/2110 94 £100 Doubling 25 yrs F12 24/03/2112 96 £100 Doubling 25 yrs F14 24/03/2089 73 £150 £25 every 25 yrs F15 SF 2 bed flat AST holding over at £11,700 pa. 65 SQ M / 700 SQ FT F16 24/03/2174 158 Peppercorn Total GR income £ 675 pa
Total income £45,015.00 per annum
Tenure: Freehold, subject to existing leases and tenancy agreements.
EPC: Energy performance certificate are prepared for the premises and it offer the following: Flat 1 - C (70 - 59) rating. Flat 2a - E (49 - 37) rating. Flat 2b– E (54 - 43) rating. Flat 3 - D (66 - 67) rating. Flat 15 - C (78 - 70) rating. A copy of the EPC is available upon request.
Legal Fees: Each party to bear own legal costs.
Section 5 Notices Buyers are made aware that section 5 notice shall be served once a transaction is agreed and therefore exchange of contracts shall only occur on expiry of the said notice.