Description:
A well-located and income-producing long leasehold residential investment situated within the established and highly regarded Hove Park Villas, moments from Hove mainline railway station and the amenities of central Hove.
The property comprises an upper maisonette arranged over the first and second floors above commercial premises, forming part of an attractive mid-terrace period building understood to date from circa 1896. The accommodation is configured as a multi-let HMO, providing a number of individually let units with shared facilities and producing a current gross income of £38,040 per annum.
The asset is professionally managed and provides a proven, consistent income stream, with potential for future rental growth and asset management, subject to the necessary consents and statutory requirements. There is also an opportunity to enhance lettable space by reconfiguring the adjacent toilet facilities to enlarge a currently unlettable room.
Positioned within a strong residential letting location, benefiting from excellent transport links, local amenities and sustained tenant demand, the property represents an attractive opportunity for investors seeking a high yielding asset with scope for active management and longer-term income and capital growth.
Key Features:
- High yielding residential investment producing £38,040 per annum
- Fully let HMO with diversified income stream
- Prime Hove location close to station and amenities
- Asset management and rental growth potential
Accommodation:
The approximate net internal areas measured are as follows:
| Name/Floor | SQFT | SQM |
|---|---|---|
| Basement Residential | 1,032 | 95.88 |
| Total | 1,032 | 95.88 |
Price:
Offers in the region of £375,000
Terms:
Guide Price: £375,000 for the long leasehold interest, subject to contract.
Tenure: A new 999-year lease granted in 2025 at a ground rent of £75 per annum. Copies of the lease, together with maintenance and building insurance details, are available upon request.
Managing Agents: The property is professionally managed, with management fees understood to be approximately 12% inclusive of VAT.
Tenancy Information: The accommodation is let on individual tenancies with rents payable monthly in advance, producing a current gross income of £3,170 per calendar month (£38,040 per annum). The electricity is recharged to occupants via coin-operated meters. Further tenancy documentation is available upon request.
VAT:
VAT is Not applicable
Legal Fees:
Each party to bear their own costs
Viewings:
Strictly via prior appointment through Sole Agent Graves Jenkins (01273 70 10 70).
Anti Money Laundering:
In accordance with the Anti-Money Laundering Regulations, Graves Jenkins is required to verify the identity of all parties involved in the transaction. Prospective purchasers or tenants will be required to provide satisfactory proof of identity and address before solicitors are instructed.
Documents will be required from all relevant parties, and a charge of £40 per person will be payable where electronic identity searches are carried out.