Eaton Court, Eaton Road, Hove, BN3 3PL
Property Summary
CARETAKERS FLAT
A 1 bedroom flat, rent paid by service charge at £10,800pa. This is a net income.
CAR PARKING
There are 12 spaces on site, 2 are used for service bays, 10 are let to residents at a total income of £2,550pa. Rent not reviewed for 5 years and in our opinion is under-rented.
SATELLITE DISHES
Leases prohibit dishes so the freeholder grants licences to the lessees and this produces £700pa.
GROUND RENTS
£3,613pa (as from 24/06/2023 is produced from extended lease flats, reviews are due to a minimum of 50% increase every 25 years. Leases have between 125-175 years to run.
DEVELOPMENT POTENTIAL
The main flat roof offers development potential to perhaps construct 6-8 flats. Interested parties to make their own enquiries.
lot type
Ground Rents
private treaty - sale status
Sold 2023
private treaty - offers invited
In the region of £400,000 PLUS proposals for an overage for any subsequent planning obtained on roof or further development
type
A substantial block of 41 flats producing £17,663pa with roof development potential - subject to consent
description
CARETAKERS FLAT
A 1 bedroom flat, rent paid by service charge at £10,800pa. This is a net income.
CAR PARKING
There are 12 spaces on site, 2 are used for service bays, 10 are let to residents at a total income of £2,550pa. Rent not reviewed for 5 years and in our opinion is under-rented.
SATELLITE DISHES
Leases prohibit dishes so the freeholder grants licences to the lessees and this produces £700pa.
GROUND RENTS
£3,613pa (as from 24/06/2023 is produced from extended lease flats, reviews are due to a minimum of 50% increase every 25 years. Leases have between 125-175 years to run.
DEVELOPMENT POTENTIAL
The main flat roof offers development potential to perhaps construct 6-8 flats. Interested parties to make their own enquiries.