- 5 Bedroom HMO, High earning student accommodation, fully occupied. Freehold - 55 Rushlake Road, Coldean, Brighton, East Sussex BN1 9AG +
- Freehold +
5 Bedroom HMO, High earning student accommodation, fully occupied. Freehold - 55 Rushlake Road, Coldean, Brighton, East Sussex BN1 9AG
Guide Price £297,000 * Buyers Premium Applies
For sale by public auction.unconditional online auction.
To review the legal documents and to view the auction information click on the buttons at the bottom of this advert or visit our website tcpa.co.uk
Town & Country Property Auctions are delighted to offer for sale by public auction this semi detached 5 bedroom HMO. Located in Coldean, a very desirable area of Brighton, conveniently situated in close proximity to Sussex University and bus links to the rest of the city. This quiet neighbourhood is traditionally preferred by the more mature students or those nearing completion of their studies. Currently let on a student AST until the summer of 2024 (31st August 2024) at a rental of £2460 pcm (£29,520 Per annum). With rentals set to increase to approximately £2,700 pcm / £32,400 per annum for the 2024/2025 academic year, providing a very lucrative potential return on investment of approximately 9.5%. The property is perfect for refurbishment if required, providing opportunity for adding considerable equity value and increased rental income.
The property will be entered into our 31st January auction which is held online and starts at 10am. You must register to bid and download the legal pack.
PROPERTY FEATURES
. Lucrative Investment opportunity
. Five Bedroom HMO
. Freehold
. No Chain
. AST Until Summer 2024
. Coldean
. Current Gross Rental: £29,520
. High Yield
. Council tax band: C
. 56 Day Completion
The property is available for viewing immediately. Please contact Town & Country Property Auctions for more information and to register for the auction. The auction will be held online, and registration is now open.
Tenure
Freehold
UNCONDITIONAL LOT Buyers Premium Applies Upon the fall of the hammer, the Purchaser shall pay a £5,000 or 5% deposit and a 2.5%+VAT (subject to a minimum of £5,000+VAT) buyers premium and contracts are exchanged. The purchaser is legally bound to buy and the vendor is legally bound to sell the Property/Lot. The auction conditions require a full legal completion 56 days following the auction (unless otherwise stated).
Pre Auction Offers Are Considered
The seller of this property may consider a pre-auction offer prior to the auction date. All auction conditions will remain the same for pre-auction offers which include but are not limited to, the special auction conditions which can be viewed within the legal pack, the Buyer's Premium, and the deposit. To make a pre-auction offer we will require two forms of ID, proof of your ability to purchase the property and complete our auction registration processes online. To find out more information or to make a pre-auction offer please contact us.
Special Conditions
Any additional costs will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack is available to download free of charge under the LEGAL DOCUMENTS'. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.