Residential Investment Opportunity

56 Shelley Road, Worthing, BN11 4BX

Quick Summary

£1,750,000 Price Description: Offers in Excess of Income: £90540 Floors: 3 Type: Commercial, Investment Status: Sale

Property Description

An excellent opportunity to purchase the freehold interest of a substantial detached property comprising nine self-contained flats: 6 x 2 bed and 3 x 1 bed. The property is unencumbered from any leasehold interests, with all flats occupied and let on Assured Shorthold Tenancies producing a gross annual income of £90,540.

The accommodation is presented in good order throughout with all flats benefiting from gas fired central heating and modern kitchen and bathroom facilities. Viewing is strongly recommended.

 

LOCATION:

Worthing is the largest town in West Sussex, located on the coast between Brighton and Chichester. The town has a resident urban population of approximately 100,000 people and a population of around 500,000 within a 13 mile catchment area.

The subject property is situated in a convenient location on the corner of Shelley Road and Shakespeare Road. Worthing Town Centre and Mainline Railway Station are both within a mile of the property, whilst the seafront and promenade are just a short walk away.

 

ACCOMMODATION:

 

FLAT 1 – GROUND FLOOR

Entrance Hall

Lounge                 16’6 x 16’

Kitchen                 11’5 x 9’11

Bedroom 1            15’11 x 12’

Bedroom 2            12’6 x 9’1

Bathroom              7’9 x 6’5

 

FLAT 2 – GROUND FLOOR

Lounge                 19’9 x 16’1

Kitchen                 13’ x 8’

Bedroom 1            16’5 x 7’10

Bedroom 2            12’8 x 7’8

Bathroom              6’10 x 6’9

 

FLAT 2a – GROUND FLOOR

Lounge/Kitchen     24’8 max x 16’9 max

Bedroom 1            11’4 x 11’

Bedroom 2            11’5 x 6’4

Bathroom              7’11 x 7’2

 

FLAT 3 – FIRST FLOOR

Lounge                 16’6 x 16’1

Kitchen                 13’9 x 9’

Bedroom 1            16’11 x 13’9

Bedroom 2            12’4 x 9’1

Bathroom              11’6 x 6’1

 

Flat 4 – FIRST FLOOR

Lounge                 16’3 x 14’4

Kitchen                 9’10 x 8’

Bedroom 1            16’4 x 9’10

Bedroom 2            10’ max x 14’ max

Bathroom              6’8 x 6’6

 

FLAT 4a – FIRST FLOOR

Lounge                 17’7 x 15’4

Kitchen                 11’1 x 6’9

Bedroom               11’2 x 10’11

Bathroom              10’10 x 5’9

 

FLAT 5 – SECOND FLOOR

Lounge                 19 max x 17’11 max

Kitchen                 10’1 x 9’9

Bedroom 1            13’5 x 12’

Bedroom 2            14’10 max x 14’9 max

Bathroom              6’9 x 6’2

 

FLAT 5a – SECOND FLOOR

Lounge                 17’11 x 13’1

Kitchen                 9’4 x 7’6

Bedroom               15’7 x 9’10

Bathroom              7’7 x 6

 

FLAT 6 – SECOND FLOOR

Lounge                 16’10 max x 12’1 max

Kitchen                 11’10 x 8

Bedroom               10’7 x 8’9

Bathroom              10’7 x 6

 

EXTERNAL:

The property benefits from a car parking to the front of the building with one space available for each flat.

There is an area for bin stores and bikes stores to the side of the property, whilst two of the ground floor flats at the rear of the building have the benefit of small patio gardens.

 

TENANTS/INCOME:

All of the flats were originally let on Assured Shorthold Tenancies but the majority have now rolled over to periodic.

Each flat is self-contained and metered separately with tenants responsible for all bills.

 

The rent schedule is as follows:

 

Flat 1                    £940 pcm

Flat 2                    £875 pcm

Flat 2a                  £830 pcm

Flat 3                    £960 pcm

Flat 4                    £910 pcm

Flat 4a                  £795 pcm

Flat 5                    £910 pcm

Flat 5a                  £650 pcm

Flat 6                    £675 pcm

 

TOTAL              £7545 pcm (£90,540 pa)

 

TENURE:

Freehold

 

ASKING PRICE:

Offers are invited in excess of £1,750,000.

 

ENERGY PERFORMANCE CERTIFICATES:

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

 

VIEWING:

Strictly by prior appointment with Spratt & Son.

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