Block of 14x Flats Acquired for Client
Star Property are pleased to have just completed the off market acquisition of a freehold block of fourteen flats in Hollingdean Road, Brighton, East Sussex.
The property which comprises of a mixture of one bedroom and studio apartments producing circa £114,000 per annum was acquired on behalf of retained local investment company who are actively seeking further properties within the East Sussex area.
The acquisition of the building for £1.9m was dealt with by Richard Lowrey who acted for the retained client.
At Star Property we have continued to see a strong demand for this type of investment across the region, this is now the 9th block of this type we have sold/ acquired in recent months and we have further demand from clients looking for this type of investment property, which provides solid regular rental income, in times where property is still seen as the safest form of investment.
Some of these buildings also offer further potential to improve monthly rents and scope for further development potential, which has been made easier in recent times with the planning policy changes on permitted development and roof top developments.
If you have a block of flats or similar investment property, which you are considering selling and would like to discuss your options or require a valuation, please get in touch with commercial director Richard Lowrey to discuss you requirements.
Tel: 01273-037194 / 07725-723021