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Rock Street, Brighton, East Sussex, BN2 1NF

Guide Price
£900,000
Added on 10/05/2021
Austin Gray, Auction House Sussex

Property description

Tenure: Please confirm if this is a freehold or leasehold property with Austin Gray

**For Sale By Auction on Thursday 10 June 2021**

*Guide Price £900,000-£950,000

2 Adjoining buildings part commercial/part residential producing £49,000 per annum with future potential to convert to 2 houses (subject to consent)

description

Built between 1822-1830 as 2 Houses the properties comprises one inner terraced and one end terrace buildings each on 3 storeys plus basements arranged as ground floor commercial unit and 2 self contained residential flats over.

Commercial
Ground and basement with whole of rear garden trading as Busby and Wilds Gastro Eatery - 16 year lease from 12/October/2009 Current rent £22,000 per annum FRI terms -extending to circa 82 sqm on ground floor +basement

Residential
Separate entrance on East side of building leading to 2 good size 3 Bedroom flats each around 82 sq m (880 sq ft) - see floor plans - each with Bath/Shower/wc and second shower/wc

One flat Let at £1150 pcm and the other at £1100 pcm Current rent total from flats £27,000 per annum

NOTE -This building is VATABLE and will be a TRANSFER AS A GOING CONCERN (TOGC)


development potential
There is potential in our opinion to let the 2 flats on an HMO basis and doing so could increase the total rental income to circa £60,000 per annum +.

A further reversionary opportunity exists to return the buildings into 2 Houses subject to consents.

Rock Street, Brighton, East Sussex, BN2 1NF

Approximate location

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Brighton Station1.5 miles
  • London Road (Brighton) Station1.7 miles
  • Moulsecoomb Station2.1 miles
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About the agent

Austin Gray, Auction House Sussex

Austin Gray LLP, 37 Vernon Terrace, Brighton, BN1 3JH

Auction House Sussex are one of the largest property auctioneers in the South East of England. Run by Austin Gray, we have been auctioneers since 1987 and hold regular auctions throughout the year, incorporating all types of residential and commercial property, development sites, land and garages. We cover the whole of Sussex from Chichester in the west to Rye in the east, and north to Horsham and Crawley; we sell lots in Brighton, Hove, Worthing, Eastbourne and Hastings, and deliver a consis

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Disclaimer - Property reference 137981. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Austin Gray, Auction House Sussex. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Austin Gray, Auction House Sussex on 01273 839132.

*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.

Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”

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