Landmark Hove Building SOLD
Star Property are pleased to have just completed the sale of 30 Holland Road, Hove & 64 Western Road, Hove to a private investment company.
This mixed use property is a landmark building in Hove and occupies a highly prominent position on the corner of Holland Road and Western Road, just up from the seafront and overlooking Palmeira Square. It is currently arranged as a LGF and GF commercial restaurant with six two bedroom flats above.
The commercial space is currently let to a Greek restaurant at a passing rental of £46,000pa with a further £90,000pa generated from the residential flats above, with two of the units having just been fully refurbished.
In the current market there is a high demand for unbroken investment blocks like this, which are not often available, this enabled us to achieve an excellent sale figure for the client of £2,350,000 for the freehold, representing a NIY of 5.44%.
We continue to require further freehold / investment properties for clients we are working with, if you have a similar type of property which you are looking to sell and would like to discuss further, then please get in touch with Commercial Director Richard Lowrey.
Tel: 01273-037190 / 07725-723021