Lot 8 - FREEHOLD RESIDENTIAL INVESTMENT

Sold £231,000

Currently let at £10,370.36 per annum

Rent increase on 1st April 2022 to £11,386.44 per annum

Situated to the north east of Brighton (approximately 2 miles) in an elevated position and to the east of the A270 and South of the A27.

Ground Floor

Entrance hall, living room, kitchen/dining room and rear utility room.

First Floor

Three bedrooms and bathroom.

Outside

Elevated garden to front and garden to rear.

Occupancy Agreement

The property is currently let under an Occupancy Agreement (commenced 26th February 1996) at a contractual rental of £199.43 per week. The agreement allows for annual increases (on 1st April) in line with the Retail Prices Index (RPI), plus 2% therefore on the 1st April 2022 the new rent will be £218.97 per week.

Auctioneer's Note

At the time of publication the Auctioneers have been unable to internally inspect all of the property. These details have been provided by the seller and interested applicants should rely on their own investigations to verify the information provided.

Viewing

There will be no internal 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/