Freehold Residential Investment For Sale

137 Middle Road, Shoreham-By-Sea, BN43 6LL

Quick Summary

£875,000 Price Description: Guide Price Units: 5 Floors: 3 Type: Commercial, Investment Status: Sale Garage: 3

Property Description

An opportunity to acquire the unencumbered freehold interest of a substantial property comprising of five residential flats and three single garages.

 

The main building comprises of two flats at ground floor level, one with two bedrooms and the other with three bedrooms. There is a one bedroom flat at first floor level together with a further two bedroom massionette arranged over first and second floors. A separate building to the rear consists of three single garages with a one bedroom flat above.

 

All five flats are completely self-contained with their own utility supplies. Four flats are currently let under the terms of Assured Shorthold Tenancies whilst the remaining flat and garages would be sold with full vacant possession. The properties are generally presented in good order, however some cosmetic works would be required to the vacant flat prior to any letting.

 

LOCATION:

The property is situated within a popular residential location, approximately 1 mile from Shoreham Railway Station and within walking distance of Southlands Hospital. The location offers good transport links to the surrounding areas with both the A27 and A259 trunk roads being within easy reach.

 

ACCOMMODATION:

 

Flat 1 – Ground Floor

Private Entrance

Lounge                          11’9 x 11’6

Kitchen                         11’8 x 10’2

Bedroom 1                     10’10 x 10’8

Bedroom 2                     10’11 x 10’8

Bathroom                      Unmeasured

 

Flat 2 – Ground Floor

Private Entrance

Lounge                          12’10 x 10’1

Kitchen                         11’7 x 7’4

Bedroom 1                     12’9 x 10’7

Bedroom 2                     9’11 x 8’1

Bedroom 3                     11’ x 10’7

Bathroom                      Unmeasured

 

Flat 3 – First Floor and Second Floors

Lounge Area                  10’9 x 10’7

Kitchen Area                 10’ x 9’10

Bathroom                      Unmeasured

Bedroom 1                     14’1 x 13’4

Bedroom 2                     13’3 x 7’7

 

Flat 4 – First Floor

Lounge                          14’11 x 10’9

Kitchen                         11’4 x 7’4

Bedroom                       14’3 x 10’6

Bathroom                      Unmeasured

 

Flat 5 – First Floor (Above Garages)

Private Entrance

Lounge                          16’4 x 8’10

Kitchen                         8’11 x 7’5

Bedroom                       13’ x 8’8

Bathroom (En-suite)        Unmeasured

 

TENANTS/INCOME:

Flat 1                            Let at £795 pcm

Flat 2                            Let at £900 pcm

Flat 3                            Vacant

Flat 4                            Let at £630 pcm

Flat 5                            Let at £650 pcm

Garage 1                       Vacant

Garage 2                       Vacant

Garage 3                       Vacant

 

Current Rental Income   £35,700 per annum

Potential Rental Income £47,500 per annum

 

TERMS:

 

Tenure:

Freehold, subject to the various Tenancy Agreements.

 

Guide Price:                                                 

£875,000.

 

VIEWING:

Strictly by appointment with Spratt & Son

 

ENERGY PERFORMANCE CERTIFICATE:

There are separate Energy Performance Certificates in place for each flat and all show an Energy Efficiency Rating of C.

 

Copies of the Energy Performance Certificates and Recommendation Reports are available by request.

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