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Just added
Auction
Freehold
£400,000
Property for sale
Compton Avenue, Brighton BN1Key Information
Local area information
Property location
Nearby amenities
- St Paul's CofE Primary School and Nursery 0.2 miles
- Brighton 0.2 miles
- Bellerbys College Brighton 0.3 miles
- London Road (Brighton) 0.6 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Read our area guide for Brighton to find out more about the local area.
Features and description
- Freehold
- For Sale by Auction on 25th September 2024
- Freehold Residential Investment
- As 2 Separate Self Contained Flats
- 1 Bedroom Ground Floor Flat With Garden and 2 Bedroom Upper Maisonette
- Let to Protected Tenants at a Passing Rent of 21,600 per annum
- Significant Future Uplift Potential in Both Rental and Capital Value
- Lower Ground Floor Flat Sold off on a Long Lease
For Sale by Auction on 25th September 2024
Auction Guide £400,000 to £425,000
Significant freehold residential investment arranged as 2 self contained flats as follows;
2 bedroom maisonette let to an Assured Tenant (single occupant) under The 1988 Housing Act at a passing rent of £9,600 per annum.
1 bedroom ground floor flat with private garden let to Statutory Tenants under The 1977 Rent Act at a passing rent of £12,000 per annum..
Total rental income of £21,600 per annum.
It is considered the property offers meaningful and very significant long term potential uplift in value whilst in the meantime provides for a good commensurate income return that is, in our opinion, able to be increased significantly in respect of the maisonette once landlords improvements have been implemented as we consider the market rent for the maisonette once updated to lie in the region of £19,200 per annum which would increase the overall rent to £31,200 per annum. On this point, buyers are advised to seek the advice of their rental and legal representative prior to making a binding commitment to purchase.
Please note the tenants of both flats are protected from eviction under the respective acts as mentioned above.
Auction Guide £400,000 to £425,000
Significant freehold residential investment arranged as 2 self contained flats as follows;
2 bedroom maisonette let to an Assured Tenant (single occupant) under The 1988 Housing Act at a passing rent of £9,600 per annum.
1 bedroom ground floor flat with private garden let to Statutory Tenants under The 1977 Rent Act at a passing rent of £12,000 per annum..
Total rental income of £21,600 per annum.
It is considered the property offers meaningful and very significant long term potential uplift in value whilst in the meantime provides for a good commensurate income return that is, in our opinion, able to be increased significantly in respect of the maisonette once landlords improvements have been implemented as we consider the market rent for the maisonette once updated to lie in the region of £19,200 per annum which would increase the overall rent to £31,200 per annum. On this point, buyers are advised to seek the advice of their rental and legal representative prior to making a binding commitment to purchase.
Please note the tenants of both flats are protected from eviction under the respective acts as mentioned above.
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More information
Listed by
PS&B - Residential Sales
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