Property for sale in Compton Avenue, Brighton BN1

For Sale by Auction on 25th September 2024

Auction Guide £400,000 to £425,000

Significant freehold residential investment arranged as 2 self contained flats as follows;

2 bedroom maisonette let to an Assured Tenant (single occupant) under The 1988 Housing Act at a passing rent of £9,600 per annum.

1 bedroom ground floor flat with private garden let to Statutory Tenants under The 1977 Rent Act at a passing rent of £12,000 per annum..

Total rental income of £21,600 per annum.

It is considered the property offers meaningful and very significant long term potential uplift in value whilst in the meantime provides for a good commensurate income return that is, in our opinion, able to be increased significantly in respect of the maisonette once landlords improvements have been implemented as we consider the market rent for the maisonette once updated to lie in the region of £19,200 per annum which would increase the overall rent to £31,200 per annum. On this point, buyers are advised to seek the advice of their rental and legal representative prior to making a binding commitment to purchase.

Please note the tenants of both flats are protected from eviction under the respective acts as mentioned above.