Block of flats for sale in St. Johns Mansions, 11 Queens Gardens, Eastbourne, East Sussex BN21
* Calls to this number will be recorded for quality, compliance and training purposes.
Property features
- For Sale by Online Auction
- Auction Date : 01 November 2024
- Substantial Block Of 20 Flats For Immediate Investment To Offered In To Our November Auction
- Residential Investment
- Freehold
- Current Rental : £193,268 Per Annum
- *Guide Price : £2,800,000 - £3,000,000 + Fees
Property description
Fully let on Assured Shorthold Tenancy Agreements the property is currently producing £193,268.40 per annum. With many long standing tenants, the individual rents have been kept below current market level and therefore could be suitable for an increase at the next review date. It is estimated that a combined rent in the region of £225,000 per annum will be achievable.
Formerly the Eastbourne Constitutional Club and Tivoli Cinema, St John’s Mansions was first converted 12/13 years ago and more recently, within the past two years, underwent an extensive overhaul of the roof and dormers along with upgrading and external redecoration.
Boasting many original features, the property has been managed by Abbott & Abbott and offers predominantly uPVC double glazed windows, modern electric wet heating systems, central lift, fire alarm system and well presented common parts.
Residential EPC: Tbc
Important:
All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on the Auction Day.
Price Information
*Guides are provided as an indication of each Seller's minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction). We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at , or contact us on , in order to stay fully informed with the up-to-date information.
*An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer. All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to
Property info
For more information about this property, please contact
Clive Emson Auctioneers, ME16 on +44 1622 829820 * (local rate)
Disclaimer
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Clive Emson Auctioneers, and do not constitute property particulars. Please contact Clive Emson Auctioneers for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.