Lot 44 Freehold Commercial InvestmentAuction Date:
20th March 2025
Haig House, Devonshire Road, Hastings, East Sussex, TN34 1NH
Currently let at £15,450 per annum
A freehold block situated in the heart of Hastings town centre, comprising ground floor commercial premises let at £15,000 per annum, along with seven flats all sold on long leases providing a total ground rent of £450 per annum rising.
Ideal for continued investment, the property offers easy access to Hastings mainline railway station and Priory Meadow shopping centre.
Commercial
Ground Floor
Reception area, open plan office, staff room/kitchen area, male W.C., female W.C. and accessible W.C.
EPC Rating
D (90). Floor area 399 sq.m.
Basement
Tenancy
Let under the terms of a Commercial Lease to Vine House Care Ltd for a period of five years from 26 February 2021 at a current rental of £15,000 per annum.
Flat 1
Tenure
Sold on a 125-year lease from 17 February 2006 at a current ground rental of £150 per annum, rising by £150 every 25 years throughout the term.
Flat 2
Tenure
Sold on a 125-year lease from 3 August 2005 at a current ground rental of £150 per annum, rising by £150 every 25 years throughout the term.
Flat 3
Tenure
Sold on a 125-year lease from 17 October 2005 at a current ground rental of £150 per annum, rising by £150 every 25 years throughout the term.
Flats 4-7 Inc.
Tenure
Each sold on a 125-year lease from 1st June 2022 at a peppercorn ground rent.
Auctioneer’s Note
Section 5B Notices under the Landlord & Tenant Act 1987 (as amended) have been served and the leaseholders have not reserved their rights under the legislation.
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
