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LOT 9

1 St Johns Place, First Avenue, Hove, East Sussex, BN3 2FJ

1 St Johns Place, First Avenue, Hove, East Sussex, BN3 2FJ

Property Details
Tenure

FREEHOLD

Description
Freehold commercial investment with ground floor retail unit, comprising of approximately 882 square feet, currently let to The Book Nook on a FRI lease for a period of 12 years from 20th February 2009 at a passing rent of £16,000. It is the considered opinion of the auctioneers that the current passing rent is significantly below market value and that upon the end of the lease in February 2021, there will be potential to increase on this amount.
Approached via a private street is a ground and first floor flat, sold off on a 999 year lease at a peppercorn ground rent.

Location
Situated in one of the city's most sought after locations, immediately adjacent to Church Road with its excellent range and selection of restaurants, coffee shops and boutiques. At the bottom of First Avenue is Hove Seafront whilst bus services access all parts of Brighton and Hove, both of which have mainline railway stations.

EPC
Rating D

Additional Information
*Guide price definition

Guide prices are provided as an indication of the seller’s current minimum acceptable price at auction. They are not necessarily figures that a property will sell for, and may change at any time prior to the auction. The guide price may not be the minimum sale price, which can be higher or lower.

Reserve price definition

The reserve price is the minimum acceptable price under the hammer, which remains confidential, and may change at any time prior to the auction. Unless otherwise stated, each property will be sold subject to a reserve. The reserve is expected to be set no more than 10% above a fixed figure guide price, or within a guide price range.


  • Freehold Commercial Investment
  • Highly Sought After Location
  • Significant Potential Future Rental Increase

Sold for £355,000


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