108 Seaside, Eastbourne BN22 7QP
FREEHOLD INVESTMENT OPPORTUNITY
This freehold investment property consists of a lock up shop unit that is currently let on an annual licence at £7,000pa and two flats above within a terraced dwelling. The flats have been sold off on leases and generate ground rent income of £300 and £35 rising respectively. The property is sold with the benefit of this ongoing income. The property is situated close to the centre of Eastbourne and within a short walk of the seafront and promenade. Section 5 notices have been served and we understand that the lessees have not exercised their right to purchase.
Shop unit approximately 558 sf and let on annual licence at £7,000 pa. Flat A - Held on a lease of 189 years from 25th December 1986 at a ground rent of £300 pa Flat B - Held on a lease of 99 years from 2th December 1986 at a ground rent of £35pa that is rising.
LOCAL AUTHORITY & TAX RATING
Eastbourne Council Shop Rateable Value £7100 Flat 108a Council Tax Band B Flat 108b Council Tax Band A
By appointment through the Auctioneers
*Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Please note that the following additional fees will apply to the purchase of your property:
1. Buyers Premium of £600 inclusive of VAT
2. Other fees as listed within the Special Conditions of Sale that form part of the legal pack which is made available to you prior to auction. You will be expected to sign this document as well as the Sales Memorandum at the time of purchase.
3. Stamp Duty - rates easily available on-line
4. Your solicitor fees and any survey fees
5. Insurance - it is your responsibility from the date of exchange to insure the property purchased.