A Grade II listed freehold terraced property arranged over four floors and converted to form 4 self-contained flats, all held on their own leases. Located in the centre of Worthing with good access to local amenities and transport links. Ideal letting investment currently generating a rent of £3,047 PCM (£36,567 PAX) representing a gross yield of 7.78% PAX.
Auction date
To be sold by online auction on Friday 24th February 2023 with a 6 WEEK COMPLETION, bidding will open at 10.00.
Registration
All bidders/potential buyers are required to register ahead of the auction date to be able to bid/buy, please visit our website to setup an online auction account.
Location
* Good access to town centre, promenade and local amenities * Direct rail link to London Victoria * Convenient access to A259, A24 and A27
Description
* Grade II listed terraced property * Converted to form 4 self-contained flats * £3,047 PCM (£36,567 PAX) gross yield of 7.78% PAX
Accommodation
4 self-contained flats arranged over five floors. Please refer to floorplan.
EPC rating
Please see legal pack for further details.
Tenure
Freehold. Each flat is held on an individual lease of 99 years from 29.9.1986
Tenancies
Flat 1: £900 PCM from 18.02.22, Flat 2: £662.50 PCM from 01.12.16, Flat 3: £834.75 PCM from 07.01.22, Flat 4: £650 PCM from 18.12.09 1 month notice served from 2nd February 2023. Please see legal pack for further details.
Council tax band
Flat 1 - A, Flat 2 - A, Flat 3 - A, Flat 4 - A - Worthing
Legal pack
For each lot there are Special Conditions of Sale and other documentation provided by the vendor’s solicitors. If you wish to receive the Legal Pack, you will be able to register for this via the link on our website. You will receive notification by email once the Legal Pack is received from the solicitor.
Additional fees
A buyers charge of £1,200 including VAT is payable on each lot that you buy, in addition to the sale price. Please be aware there may be other additional fees, including disbursements contained in the legal pack payable on completion. Please ensure that you check the legal pack for each lot that you are interested in, prior to bidding.
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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If two of more users place identical bids, the bid that was placed first takes precedence, and this includes proxy bids.
Another bidder placed an automatic proxy bid greater or equal to the bid you have just placed. You will need to bid again to stand a chance of winning.
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