5 bed terraced house for sale

Church Road, Hove, East Sussex BN3

Guide price £700,000

Sitting in one of the city’s historic shopping thoroughfares, close to restaurants, Hove Station and Hove Beach stands a unique property spread over four generous floors offering residential and commercial investment opportunities. There is a spacious two-bedroom apartment on the lower ground floor, with a commercial beauty and hair salon on the ground floor and a five-bedroom maisonette spanning the upper two floors which together are being sold as a freehold property with tenants in situ. This is strictly and investment opportunity as the residential and commercial tenants will be staying, yet there remains scope for future refurbishments and reconfigurations which will add value to the building over time.

Style: Victorian converted Freehold house comprised of 2x flats and 1x commercial premises.
Type: 2-3 bedroom lgf flat, Commercial Shop, 5-bedroom upper maisonette (um)
Location: Church Road Hove
Floor Area: Please see floor plan
Outside: Courtyard patio
Parking: Permit Zone N in surrounding streets
Council Tax Band: A (lgf) & B (um)
Rental Income Shop: Tbc
Rental Income lgf: £2,145 pm
Rental Income um: £3,358 pm

Why you’ll like it:
Ideal for investors; this property offers a unique opportunity for both an income and a ownership of two substantial residential properties in the centre of Hove and within minutes of Hove Mainline Station. The commercial premises sits within an exclusive parade of shops on Church Road, within a Victorian townhouse bearing the architectural features of the era. While the commercial premises is accessed from Church Road, spanning almost 640 sq. Ft. With a kitchenette and WC, the lower ground floor apartment and upper maisonette are accessed to the rear via a communal entrance from Connaught Road.

From the rear twitten, a gate opens to the walled patio garden – a communal space. A gate opens to stairs leading down to the lower ground floor which has two bedrooms and a living room, although all three rooms are currently let to three sharers. There is a well-equipped kitchen and a bathroom with a full bath suite, but while all spaces are perfectly functional, there is huge scope to add value with modernisation.

Elevated on the first and second floors, the upper maisonette enjoys high ceilings, and a wealth of period features throughout. The main reception to the front of the house is particularly spacious with wall panels and a wide bay sash window offering a nod to the original heritage of the building. There is ample space in here for relaxation and formal dining or potentially relocating the kitchen into here subject to planning which would allow for an extra bedroom or bathroom if needed.

While the largest bedrooms on the first and second floors benefit from modern en suite bathrooms, there is a third shower room and a separate WC for the other sharers who all benefit from double rooms, many with built-in traditional storage.

This property is for sale by the Modern Method of Auction.

Should you view, offer or bid on the property, your information will be shared with the Auctioneer, iamsold. This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyers solicitor. This additional time allows buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey). The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.50% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability.

Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded. This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack. The buyer will also make payment of £349.00 including VAT towards the preparation cost of the pack, where it has been provided by iamsold. The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.

This is a great opportunity in a popular location which is well served for shops, parks and colleges. There are plenty of local green spaces, and great transport links, but you are also only a short walk from everything this vibrant coastal city has to offer. The A23/A27 and Hove Station are also within easy reach, for those requiring fast links to the universities, Gatwick or London on a daily or weekly basis.