37 Vernon Terrace
Brighton
Sussex
BN1 3JH
Chatham Place, Brighton
£1,700,000
10 Bedroom Mixed Use
- On the Instructions of Executors
- First Time to Market in 50 Years
- Freehold Investment
- Comprising 6x Self-Contained Flats & 4x Commercial Units
- Fully Income Producing
- Income of £135,766 per annum exclusive
- Popular Seven Dials Location
- Potential For Rent Uplift
On the Instructions of Executors
Freehold Investment Arranged as 6 x Self-Contained Flats and 4 x Commercial Units
Currently Producing £135,766 per annum exclusive
Description
Available on the market for the first time in 50 years, this is a rare opportunity to acquire a substantial mixed use freehold investment property located in Seven Dials, Brighton. The property comprises six self-contained flats and four commercial units, all of which are tenanted and producing an annual income of approximately £135,766 per annum exclusive.
Situation
The property is situated in the heart of the popular Seven Dials area, just north of Brighton city centre. Brighton Station is approximately a 10 minute walk away and the area benefits from easy access to the A23 and A27. Nearby occupiers include Gails, Flour Pot Bakery, Subway, The Good Companions, Co-op and Ashtons Pharmacy.
Accommodation
The property has the following approximate Net internal floor areas:
RESIDENTIAL
Flat 134.0sq.m.
Flat 262.22sq.m.
Flat 333.21sq.m.
Flat 464.41sq.m.
Flat 575.85sq.m.
Flat 666.37sq.m.
Total 336.06sq.m.
COMMERCIAL
19 Chatham Place 91.1sq.m.
20-21 Chatham Place95.01sq.m.
41 Prestonville Road96.20sq.m.
42 Prestonville Road83.22sq.m.
Total 365.35sq.m.
Rateable Value
COMMERCIAL
19 Chatham Place £4,150
20-21 Chatham Place£12,500
41 Prestonville Road£7,700
42 Prestonville Road£8,900
EPC's
RESIDENTIAL
Flat 1 Selbourne HouseC
Flat 2 Selbourne HouseC
Flat 3 Selbourne HouseE
Flat 4 Selbourne HouseD
Flat 5 Selbourne HouseD
Flat 6 Selbourne HouseC
COMMERCIAL
19 Chatham PlaceC
20-21 Chatham Place B
41 Prestonville Road C
42 Prestonville Road B
Council Tax Band
RESIDENTIAL
Flat 1 Selbourne HouseA
Flat 2 Selbourne HouseB
Flat 3 Selbourne HouseA
Flat 4 Selbourne HouseB
Flat 5 Selbourne HouseB
Flat 6 Selbourne HouseA
Tenancies
RESIDENTIAL
Flat 1 £875pcm
Flat 2 £1,400pcm
Flat 3 £1,050pcm
Flat 4 £1,400pcm
Flat 5 £1,450pcm
Flat 6 £1,375pcm
Total - £7,550pcm
COMMERCIAL
19 Chatham Place £8,500pax
20-21 Chatham Place £13,666ax
41 Prestonville Road £11,000pax
42 Prestonville Road £12,000pax
Total£45,166pax
Tenancy details - available upon request
Agent Notes
The launderette that fronts Selbourne House is sold off on a separate freehold title.
We have been made aware from our client that there is a void room, accessed through a loft hatch on the top floor. We have not been able to inspect or measure this area. It is possible that this room may have previously been part of one of the top floor flats.
There is the potential for rental uplift, subject to rent reviews and lease renewal.
VAT & Legal Fees
We understand the property is not elected for VAT. Each party to bear their own legal costs incurred.
Although these particulars are thought to be materially correct their accuracy cannot be guaranteed and they do not form part of any contract.
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