Lot 1 - Derwent Court, Dyke Road, Brighton, East Sussex, BN1 3JA

  • Unconditional Online Auction Sale
  • Guide Price* : £100,000-125,000

Freehold Ground Rent & Garage Investment

Description

Freehold block of 18 flats with each being sold off on long leases for a period of 999 years from 14 June 1968 producing a current ground rent income of £316.50 per annum.
Also included within the sale are 5 vacant garages as below:

Triple width garage below Derwent Court (freehold) with lapsed planning permission to convert into 1 x 1 bedroom flat
Double width garage below Derwent Court (freehold) with lapsed planning permission to convert into a 1 x studio flat
Single garage to the rear of Derwent Court (freehold)
Single garage (front) below Derwent Lodge (leasehold)
Single garage (rear) below Derwent Lodge (leasehold)

Via a driveway approached from Buckingham Road, there is a courtyard area providing access to all 5 garages whilst to the west side of the entrance there is additional parking for 1-2 vehicles

Tenure
The freehold interest of Derwent Court to include the triple, double and single garage, the leasehold interests of the 2 garages below Derwent Lodge.

Agents Note** Under the terms and conditions of Section 5b of The 1987 Landlord & Tenant Act, we are able to confirm that the relevant Notices have been served on the leaseholders who have NOT reserved their rights to purchase the freehold, with the deadline for them to be able to do so having now expired.

Tenure

FREEHOLD

Bullets

* Freehold Ground Rent Income Investment
* Vacant Garages
* Re-development potential (STPC)

* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation. 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.

Bidding not yet open
Minimum Opening Bid

£100,000


Bidding Opens On
26th Jan 2021 10:00
End Date

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