33-33a Montefiore Road, Hove

The property comprises of a ground floor commercial unit currently let for £7,000pa with rent review due in July 2025. The tenant has been in occupation since 8th July 2010 with the lease renewed in July 2020.

To the ground floor rear is a self-contained 1x bedroom flat let for £1,050pcm, the uppers parts are arranged as a 4x Bedroom HMO producing rents of R1 £725pcm, R2 £625pcm, R3 £625pcm, R4 £700pcm.

The collective income for the building is £51,700 per annum

Location
The property is located on the corner of Montefiore Road and Addison Road, Hove just across from the Montefiore Hospital with street car parking outside the building.

Viewings
Viewings can be arranged via the vendors Sole Agents - Newlands Property

Terms
Offers are invited in the region of £750,000 for the freehold interest, subject to the existing tenancies in place. A purchase at this level would reflect a net initial yield of 6.54%

Available Area