Lot 126 - FREEHOLD RESIDENTIAL INVESTMENT

Sold £295,000

Currently let at £14,291.68 per annum

Rent increase on 1st April 2022 to £15,692.04 per annum

An attractive semi-detached house with single storey extension to rear, situated in the popular district of Portslade which lies almost equidistant between Brighton and Shoreham to the south of the A27.

Ground Floor

Entrance porch and hall, living room and open-plan dining area, kitchen and rear hall with cloakroom incorporating W.C. and utility room.

First Floor

Three bedrooms and bathroom.

Outside

Front garden incorporating off-street parking and garden to rear.

Occupancy Agreement

The property is currently let under an Occupancy Agreement (commenced 22nd November 1993) at a contractual rental of £274.84 per week. The Agreement allows for annual increases (on the 1st April) in line with the Retail Prices Index (RPI), plus 2%. On the 1st April 2022 the rent will increase to £301.77 per week.

Auctioneer's Note

The property has not been inspected by the Auctioneers. The details have been provided by the Sellers; therefore interested applicants should rely on their own investigations to verify the information provided.

Viewings

There will be no viewings. Interested applicants are requested not to contact the occupants direct.

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/