Description
**MIXED RESIDENTIAL/COMMERCIAL INVESTMENT**
Freehold investment opportunity. Nine flats and two retail units within a terraced property constructed in 2013 in central Brighton. Currently producing £146,380 pax, representing a yield of 5.86%*
The property was constructed in 2013 and is arranged as 9 flats over ground to third floors. 8 of the flats have balcony or patio space. The flats were completed to Level 3 of the Code for Sustainable Homes. With 2 lock up retail units fronting Oxford Street on the ground floor.
We understand the property utilises solar panels, generating approximately £750 per annum, which currently provides electricity for the communal areas.
Guide Price - £2.5 million for the Freehold interest (subject to the existing tenancies). Alternatively, the shares of the Freehold owning company (A.R.T. Leisure Ltd) can be purchased by negotiation, which may result in additional savings. Further details upon application.
Tenancies & Rent - The flats are all let on Assured Shorthold Tenancies (AST's). Both retail units are let on yearly renewing leases since 2014. The combined total rental income is currently £146,380 per annum.
Vat - The sale of the property will attract VAT.
Energy Performance Certificate - The commercial units have an EPC rating of C - 60.
The residential flats have EPC ratings ranging from C - 80 to B - 86.
The City of Brighton and Hove is located on the south coast approximately 52 miles south of London and is served by a fast and frequent rail service (London Victoria 50 mins). Brighton and Hove has a resident population of approximately 256,000. It is ranked the 12th largest conurbation in the UK and has 2 major universities located in the City.
The property is situated mid-way between Ditchling Road/The Level and London Road. London Road is one of the principle shopping thoroughfares in the Brighton & Hove conurbation and The Level provides good green amenity space having been transformed in 2013 to incorporate new cafe areas, children's play areas, skate parks, petanque and boccia areas.
