Summary

Mixed investment in central Hove. Ground floor retail let to Countryman Improvements Limited, with a recently modernised two bedroom first floor apartment all producing £20,000 pa (potential for increase)

Description

A Victorian end of terrace, with commercial unit over ground and basement, and a two double bedroom first floor flat above, which the vendor advises had a major internal refurbishment carried out in 2019, consisting of new kitchen, bathroom and en-suite, re wired and re plastered, along with a new central heating system. The ground floor rear has been sold off on a long lease.

Tenancies-
The commercial unit is let to Countryman Improvements Limited on a 6 year lease expiring December 2007 at a rent of £5,000 pa. Countryman Improvements Limited are now holding over. We estimate the current rack rent is £7,500 pa, but interested parties to satisfy themselves on this point.

Flat 1, Ground Floor sold off on a 189 year lease from 24/06/2004.
Flat 2, First Floor currently let on an AST at £1,250 pcm expiring on 09/01/2022