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Property details
Map & nearby

Commercial property for sale in Montefiore Road, Hove

Under offer

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Commercial property for sale

1,988 sq. ft*

Property description

Key Points

Investment Property

Fully Let

Commercial & Residential Investment

Description

The property comprises of a ground floor commercial unit currently let for £7,000pa with rent review due in July 2025. The tenant has been in occupation since 8th July 2010 with the lease renewed in July 2020.

To the ground floor rear is a self-contained 1x bedroom flat let for £1,050pcm, the uppers parts are arranged as a 4x Bedroom HMO producing rents of R1 £725pcm, R2 £625pcm, R3 £625pcm, R4 £700pcm.

The collective income for the building is £51,700 per annum

Location

The property is located on the corner of Montefiore Road and Addison Road, Hove just across from the Montefiore Hospital with street car parking outside the building.

Viewings

Viewings can be arranged via the vendors Sole Agents - Newlands Property

Terms

Offers are invited in the region of £750,000 for the freehold interest, subject to the existing tenancies in place. A purchase at this level would reflect a net initial yield of 6.54%

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The accommodation comprises the following areas:

Property info

Brochure

Transport Schools Healthcare Food stores Restaurants/bars Sports/health clubs Parks/recreation

* Sizes listed are approximate. Please contact the agent to confirm actual size.

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Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Newlands Property - Commercial, and do not constitute property particulars. Please contact Newlands Property - Commercial for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.