Acquired
St. Leonards-On-Sea – HMO Let to Local Authority
76 St Saviours Road, St. Leonards-On-Sea TN38 0ARFreehold HMO Investment
Investment Consideration
- Comprises a two storey detached house entirely let to the local council and operates as an HMO
- The property is arranged as six bedrooms, reception, kitchen, bathroom and WC
- St Leonards-on-Sea is a town and seaside resort in the Borough of Hastings in East Sussex
- The property is situated in a residential neighbourhood
VAT
VAT is not applicable.
Property Description
The property comprises a two storey detached house entirely let to the local council and operates as an HMO. The property is arranged as six bedrooms, reception, kitchen, bathroom and WC.
Tenancy Description
The property is at present let to the local authority for a term of 10 years from 13th November 2015 at a current rent of £33,000 per annum and the lease contains full repairing and insuring covenants. The lease provides for rent reviews every fourth year and rent deposit is held of £16,500.
Tenancies & Accommodation
Location Description
St Leonards-on-Sea is a town and seaside resort in the Borough of Hastings in East Sussex. The town of St Leonards today occupies, firstly, the fairly steeply climbing land immediately adjacent to the west of Hastings, leading up towards Silverhill and Hollington; and secondly, to the west where the land is lower lying. The principal roads in St Leonards are the seafront (Grand Parade and Marina) part of the A259 coastal route; and London Road.
