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House for sale
White Rock, Hastings
£450,000
White Rock, Hastings
£450,000
Our Summary
- For Sale By Auction on 28th November 2024Auction Guide £450,000+Unbroken freehold comprising of 4 self contained flats within this Grade II Listed Building all let out on Assured Shorthold Tenancy Agreements with enormous rental and capital value uplift available
- Lower Ground Floor 1 Bedroom with garden Ground Floor 1 Bedroom with garden and south facing balcony overlooking the seaFirst Floor Studio able to be easily adapted into a one bedroom flatSecond & Third Floor 2 bedroom MaisonetteThe current passing rent is £28,800 per annum however it is considered each flat is very underlet and this is able to be increased to an amount much closer to £39,000 per annum whilst the building offers significant future capital uplift and includes a 15% break up discount
- In addition, if each flat were to be updated there is the potential to increase the rent even further to £45,000 per annum at a yield of 8% whilst in turn this would also increase the capital and break up value to an amount in the region of £850,000
Description
This Grade II Listed Building is being sold by auction on November 28th, 2024, with a guide price of £450,000+. The property comprises four self-contained flats, each with its own unique features, including a garden, balcony, and stunning direct sea views. The flats are currently let out on Assured Shorthold Tenancy Agreements, generating a total annual rent of £28,800, but with potential for significant increases to £39,000 or even £45,000 per annum. With each flat having potential for renovation, there is also a significant opportunity for capital growth and break-up value, potentially reaching £850,000. The property offers a rare and exciting investment opportunity, with enormous rental and capital value uplift available.