Lot 134

FREEHOLD MIXED USE INVESTMENT

206 South Coast Road, Peacehaven, East Sussex, BN10 8JP
206 South Coast Road, Peacehaven, East Sussex, BN10 8JP
Sold £80,000

Currently let at £5,610 per annum

Estimated rental £9,409.92 per annum

A detached three storey purpose built property arranged as five self-contained flats, which have been sold on long leases. There are two office suites on the ground floor and parking to the side and rear.

The building is situated in a busy commercial thoroughfare on the corner of South Coast Road and Dorothy Avenue close to local shops and amenities.

Commercial Units

Ground Floor

Communal entrance hallway, ladies and gents W.Cs.

East Suite

Front and rear offices.

Tenancy

Let on a Tenancy at Will, from 16th May 2013, at a current rental of £450 per calendar month.

West Suite

Front and rear offices.

Tenancy

Vacant. Previously let at £316.66 per calendar month.

Flat 1

Tenure

Sold on a 99 year lease, from 24th June 2003, at a ground rental of £15 per annum.

Flat 2

Tenure

Sold on a 99 year lease, from 22nd February 2014, at a current ground rental of £150 per annum.

Flats 3, 4 & 5

Tenure

Each sold on a 99 year lease, from the 24th June 1990, at a current ground rental of £15 per annum.

Auctioneer's Note 1

Section 5(b) Notices under the Landlord & Tenant Act 1987 (as amended) have been served and the leaseholders have reserved their rights under the legislation.

Auctioneer's Note 2

We understand the leaseholders have the right to manage under the Commonhold and Leasehold Act 2002.

Auctioneer's Note 3

We understand that the tenants of the East Suite have sub-let part of their unit without the Landlord's consent.

Important

All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on Auction Day.

* Price Information

Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction).

We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.

Additional Fees

An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer.

All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to cliveemson.co.uk/buyers-fees/