Offers in region of
£165,000
(£527.16/sq. ft)
Property for sale96 Goldstone Villas, Hove BN3
313 sq. ft
EPC Rating: B
Just added
Freehold
About this property
£165,000 for the freehold interest
Great location
7.25% net yield 7.4% gross yield%
Estimated Rates Payable: £3361.6
Description
The property comprises the freehold interest of this attractive building. 4 flats above & an office building to the rear have been sold off by way of long leasehold interests, whilst our client has retained the freehold interest & a long leasehold interest of the ground floor for a term of 999 years from 2022 which is what we are offering. Under our clients long leasehold interest they have let the ground floor shop for a term of 4 years from 24 June 2026 to a private individual at a rent of £11,250 per annum exclusive. In addition to the shop rent the freeholder also collects a combined ground rent of £950 per annum. Thus making the combined income of £12,200 per annum. The long lease interests in the building which the freehold benefits from are as follows: Gf Shop Front-£250 pa-999 years from 12 May 2022, Flat 1- £250 pa-125 years from 16 February 2018, Flat 2 No gr- 999 year lease from 2026, Flat 3-£250-pa 125 years from 26 November 2021, Flat 4 £250 pa- 125 years from 29 January 2018, gf rear commercial -£100 pa-999 years from 24 June 2005 ff & sf rear commercial -No gr-999 years from 24 June 2005.
Location
The property is located in Goldstone Villas, Hove adjacent to Hove Railway Station where the ground floor shop & access to the flats above can be accessed from the front whilst the office building to the rear is accessed via Ethel Street to rear facing west opposite the recent Hove Gardens development which comprises a mix of residential & commercial spaces to rent. To the south of the property are both George Street & Church Road, Hove's Prime retail locations where a number of multiple operators are situated. Nearby occupiers to the property include Tesco Express, Go Botanica, Small Batch Coffee & Snap Fitness.
Terms
Offers are invited in the region of £165,000 for the freehold interest along with their long leasehold interest of the ground floor shop unit. A purchase at this level based on the income of £12,200 per annum would show a gross yield of 7.4% & a net yield of 7.25%
Viewings
Strictly to be arranged via vendors agent.
The property comprises the freehold interest of this attractive building. 4 flats above & an office building to the rear have been sold off by way of long leasehold interests, whilst our client has retained the freehold interest & a long leasehold interest of the ground floor for a term of 999 years from 2022 which is what we are offering. Under our clients long leasehold interest they have let the ground floor shop for a term of 4 years from 24 June 2026 to a private individual at a rent of £11,250 per annum exclusive. In addition to the shop rent the freeholder also collects a combined ground rent of £950 per annum. Thus making the combined income of £12,200 per annum. The long lease interests in the building which the freehold benefits from are as follows: Gf Shop Front-£250 pa-999 years from 12 May 2022, Flat 1- £250 pa-125 years from 16 February 2018, Flat 2 No gr- 999 year lease from 2026, Flat 3-£250-pa 125 years from 26 November 2021, Flat 4 £250 pa- 125 years from 29 January 2018, gf rear commercial -£100 pa-999 years from 24 June 2005 ff & sf rear commercial -No gr-999 years from 24 June 2005.
Location
The property is located in Goldstone Villas, Hove adjacent to Hove Railway Station where the ground floor shop & access to the flats above can be accessed from the front whilst the office building to the rear is accessed via Ethel Street to rear facing west opposite the recent Hove Gardens development which comprises a mix of residential & commercial spaces to rent. To the south of the property are both George Street & Church Road, Hove's Prime retail locations where a number of multiple operators are situated. Nearby occupiers to the property include Tesco Express, Go Botanica, Small Batch Coffee & Snap Fitness.
Terms
Offers are invited in the region of £165,000 for the freehold interest along with their long leasehold interest of the ground floor shop unit. A purchase at this level based on the income of £12,200 per annum would show a gross yield of 7.4% & a net yield of 7.25%
Viewings
Strictly to be arranged via vendors agent.
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Monthly repayment
£825 per month
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