Block of flats for sale in 2 Freehold Terrace, Brighton, East Sussex BN2

Guide price £1,900,000 (£414.85/sq. ft)
Block of flats for sale 4,580 sq. ft*
Interested in this property? Call +44 1273 083470 * or Request Details

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Property features

  • Secure Freehold Residential Investment
  • Close to Lewes Road/University Corridor
  • Modern Contemporary Build
  • Fully Let and Income Producing

Property description

Concrete frame construction with a coloured render finish, matching aluminium windows and internally fitted to a modern standard throughout with fitted kitchens and bathrooms, gas fired central heating system, carpet and/or wood veneer/tiled flooring.


Property details


Ground, first, second and third floors = 4580 sq ft (425.50 m2)


Accommodation


Six apartments are accessed from a main entrance in Pope's Folly to a shared common-way with apartment 2a (The Gatehouse) having its own separate entrance.

There are in addition, 3 car parking spaces in front of the main building fronting Freehold Terrace.

There are also two separate garages available at a price to be confirmed.

- Ground Floor

Apartment 1
Entrance Hall. Bathroom/wc with bath and shower over, wash hand basin on base unit and wc, heated towel rail. Bedroom with doors onto patio. Living Room/Kitchen with modern fitted kitchen. Worcester gas-fired boiler. Side patio. Small garden area.

Apartment 2
Entrance Hall Living Room/Kitchen with modern fitted kitchen. Worcester gas-fired boiler. Bedroom 1 Bedroom 2 with door onto balcony. Bathroom/wc with bath and shower over, wash hand basin on base unit and wc, heated towel rail. Small external balcony area.

- First Floor

Apartment 3
Entrance Hall. Bathroom/wc with bath and shower over, wash hand basin on base unit and wc, heated towel rail. Bedroom with doors onto patio. Living Room/Kitchen with modern fitted kitchen. Worcester gas-fired boiler. Small balcony area.

Apartment 4
Entrance Hall Living Room/Kitchen with modern fitted kitchen. Worcester gas-fired boiler. Bedroom 1 with door onto balcony. Bedroom 2 Bathroom/wc with bath and shower over, wash hand basin on base unit and wc, heated towel rail. Small external balcony area.

- Second Floor

Apartment 5
Entrance Hall. Bathroom/wc with bath and shower over, wash hand basin on base unit and wc, heated towel rail. Bedroom with doors onto patio. Living Room/Kitchen with modern fitted kitchen. Worcester gas-fired boiler. Small balcony area.

Apartment 6
This apartment comprises a second and third floor maisonette Second floor Entrance Hall with stairs to third Floor Bedroom 1 with patio doors onto balcony. Bedroom 2 Bedroom 3 with patio doors onto balcony. Bathroom/wc with bath and shower over, wash hand basin on base unit and wc, heated towel rail. Third Floor Living Room/Kitchen with stairs down to second floor and step up to patio doors onto external south facing terrace.

Apartment 2A (The Gatehouse)
This property has its own separate external entrance. Ground Floor Entrance Hallway with stairs to first floor. Combined Living Room/Kitchen Area Utility/Cloakroom Area First Floor Landing with airing cupboard Bedroom 1 Bedroom 2 Bathroom/wc with bath and shower over, wash hand basin on base unit and wc, heated towel rail.


Areas and dimensions


- Ground Floor

Apartment 1 Living Room/Kitchen Bedroom Bathroom/wc Gross Internal Area (gia) 512 sq ft (47.53m2)

Apartment 2 Living Room/Kitchen Bedroom 1 Bedroom 2 Bathroom/wc Gross Internal Area (gia) 602 sq ft (55.94m2)

- First Floor

Apartment 3 Living Room/Kitchen Bedroom Bathroom/wc Gross Internal Area (gia) 530 sq ft (49.2m2)

Apartment 4 Living Room/Kitchen Bedroom 1 Bedroom 2 Bathroom wc Gross Internal Area (gia) 596 sq ft (55.41m2)

- Second Floor

Apartment 5 Living Room/Kitchen Bedroom Bathroom/wc Gross Internal Area (gia) 530 sq ft (49.2m2)

Apartment 6 (Second/Third Floor Maisonette) Bedroom1 Bedroom 2 Bedroom 3 Bathroom/wc Third Floor Living Room/Kitchen Gross Internal Area (gia) 1,018 sq ft (94.56m2)

Apartment 2A (the Gatehouse) Ground Floor Living Room/Kitchen Utility/Wc Cloaks First Floor Bedroom 1 Bedroom 2 Bathroom/wc Gross Internal Area (gia) 792 sq ft (73.61m2)


Tenancy information


We are advised of the following Assured Short-hold Tenancies (AST's) are in place at the time of writing.

Apartment 1 - rent £1,100 pcm from April 2021 to 2022.

Apartment 2 - rent £1,350 pcm from October 2020 to 2021.

Apartment 2a - rent £1,350 pcm from June 2021 to 2022.

Apartment 3 - rent £1,050 pcm from August 2020 to 2021.

Apartment 4 - rent £1,200 pcm from August 2020 to 2021.

Apartment 5 - rent £1,000 pcm holding over on a periodic tenancy which can be terminated given 4 months notice.

Apartment 6 - rent £1,850 pcm from September 2021 to 2022.

Total Rental Income (current and projected) £8,900 pcm equivalent to £106,800 per annum, prior to any Management costs.


Terms of sale


We are instructed to guide £1,900,000 (one million, nine hundred thousand pounds) for the freehold interest and subject to any current tenancies and income - a purchase at this level would provide for a Gross Initial Yield of 5.6%

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

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For more information about this property, please contact
Graves Jenkins, BN1 on +44 1273 083470 * (local rate)

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