Available
St. Leonards-on-Sea – 3-Bed Flat
30/30A Fernside Avenue, St. Leonards-on-Sea, East Sussex TN38 0UUFreehold Residential & Retail Ground Rent Investment
Price
£215,000
Rent P.A.
£7,800
Yield
ERV: £14,400
Tenure
Freehold
Lease Term
AST
Years Left on Lease
Holding Over
Area
990 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Asset management opportunity, flat is under rented. ERV: £14,400 p.a.
- Comprises 3-bedroom residential flat at first/second floor and a ground floor takeaway (sold-off)
- Situated in predominantly residential area within 1.2 miles from St. Leonards-on-Sea town centre, with occupiers nearby including Tesco Express, Hair and Beauty salon and more.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property comprises 3-bedroom maisonette at first and second floor and takeaway shop at ground floor (sold-off), providing the following accommodation and dimensions:
Ground Floor: Takeaway (sold-off)
First/Second Floor: 92 sq m (990 sq ft)
3 bedrooms, kitchen, living room, bathroom
Ground Floor: Takeaway (sold-off)
First/Second Floor: 92 sq m (990 sq ft)
3 bedrooms, kitchen, living room, bathroom
Tenancy Description
The residential flat is at present let on AST (holding over) to an Individual at a current rent of £7,800 per annum.
The takeaway has been sold-off on long leasehold for a term of 999 years from November 2024 at ground rent of peppercorn.
The takeaway has been sold-off on long leasehold for a term of 999 years from November 2024 at ground rent of peppercorn.
Tenancies & Accommodation
Location Description
St Leonards-on-Sea is a town and seaside resort in the Borough of Hastings in East Sussex. The property is situated in a parade of commercial units in a predominantly residential area of St Leonards, with occupiers nearby including Tesco Express, Hair and Beauty salon and more.