Atlingworth Street, Brighton

The Details

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• 3 Bed HMO
• Investment property
• Let agreed until Summer 2022
• £21,840 gross rental per annum
• 5.7% yield
• Initial leasehold agreement of 125 years
• Ground rent £50 pa
• Maintenance charge is 2/5th contribution
• £800 pa sinking fund contribution
• later option to buy share of freehold

Buy-to-Let | HMO | Popular Student Location |

Spacious 3 bedroom, Victorian maisonette, split over the ground and lower ground floors, just 500m from the palace pier! The property comprises a large living space and separate kitchen, three large bedrooms, and benefits from a full bathroom, as well as a second WC. All this and being located in desirable Kemptown, gives the property fantastic rental potential, having been consistently been let on student AST for years. There is also a small rear patio garden to enjoy the seaside air!

The property is currently let on a fixed term student AST until summer 2021, with a new tenancy already agreed to begin straight afterwards, giving a consistent occupancy until Summer 2022. With a gross rental income of £21,840, the property gives a yield of 5.7% against the asking price.

Offered initially as a leasehold on a 125 year term, with a ground rent of £50 per annum, and maintenance charge 2/5th of total costs to the building. There is also a sinking fund contribution of £800 p.a.

With each flat in the building on the market from the same freeholder, on completion of sale of all units, there will become the opportunity to purchase a share of freehold.