Lot 138 Freehold Block Of Flats For InvestmentAuction Date:
11th December 2024
5 Cloudesley Road, St. Leonards-on-Sea, East Sussex, TN37 6JN
Currently let at £20,505 per annum
A freehold block of six flats, three of which have been sold on long leases and the three remaining all let on Assured Shorthold Tenancy Agreements. The property is located in a predominantly residential area of St. Leonards within easy reach of various amenities, schools and the seafront.
Flat A has been sold on a 189-year lease from 25th March 1989 at a current ground rental of £75 per annum, Flat D has been sold on a 99-year lease from 1st January 2003 at a current ground rental of £75 per annum, and Flat B has been sold on a 99-year lease from 8th April 2016 at a current ground rental of £75 per annum.
First Floor
Flat C
Entrance hall, bedroom, utility cupboard, bathroom with W.C., kitchen and living room.
Tenancy
Let on an Assured Shorthold Tenancy Agreement at a current rental of £590 per calendar month.
Second Floor
Flat E
Entrance hall, open-plan living room/kitchen, bedroom and bathroom with W.C.
Tenancy
Let on an Assured Shorthold Tenancy Agreement at a current rental of £590 per calendar month.
Flat F
Entrance hall, open-plan living room/kitchen, bedroom and bathroom with W.C.
Tenancy
Let on an Assured Shorthold Tenancy Agreement at a current rental of £550 per calendar month.
Each Flat Council Tax Band A
Each Flat EPC Rating E
Viewing
External only.
There is an addendum available to be read
in conjunction with the legal documentation.
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 Buyers Fees
