Lot 33 - MIXED RESIDENTIAL AND COMMERCIAL INVESTMENT IN TOWN CENTRE

Sold £350,000

Currently let at £28,340 per annum

A substantial building located within easy reach of Eastbourne town centre with its various local and national retailers and the mainline railway station, the seafront and further amenities.

The property comprises two commercial units and a two-bedroom flat currently producing £28,140 per annum along with a further commercial unit and flat which have been sold on 125 year leases producing a total ground rent of £200 per annum.

50 Grove Road

Ground Floor

Dining area and kitchen.

Lower Ground Floor

Two store rooms, kitchen and W.C.

Tenancy

Let under the terms of 5 year lease from 23rd August 2019 at a current rental of £6,000 per annum.

50A Grove Road - Residential

Council Tax Band B

Ground Floor

Private entrance.

First Floor

Hallway, living room, kitchen, two bedrooms and a bathroom with W.C.

Tenancy

Let on an Assured Shorthold Tenancy Agreement at £845 per calendar month.

52 Grove Road

Ground Floor

Seating area.

Lower Ground Floor

Kitchen and two W.C's.

Outside

Courtyard seating area.

Tenancy

Let on a 10-year lease from 21st August 2017 at a current rental of £12,000 per annum.

54 Grove Road - Commercial

Tenure

Let on the terms of a 999 year lease from 24th June 1993 at a current ground rent of £100 per annum.

54 Grove Road - Residential

First Floor Flat

Tenure

Remainder of a 999-year lease from 24th June 1993 at a current ground rent of £100 per annum.

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/