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Sold STC 12 Bedrooms 4 Bathrooms 0 Reception Guide Price £950,000

Cranston Road, East Grinstead, RH19 - Guide Price £950,000

The Stamp Duty for this property would be £23,750    (Show break down) (Hide break down)

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Purchase price bands (£)Percentage rate (%)SDLT due (£)
Up to £500,000 0 £ 0
Above £500,000 and up to £925,000 5 £21,250
Above £925,000 and up to £1,500,000 10 £2,500
Above £1,500,000+ 12> £ 0
*This is for illustrative purposes only

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Guide price £950,000 - £1,000,000 This substantial Victorian detached building is located just 0.8 Miles from East Grinstead train station. Currently set up as a 12 room House of Multiple Occupation (HMO) with a current Fully Let Income of £82,000 P/A. Scope for Re-Development (STPP)

It is rare that such an opportunity comes to the market. A fantastic, substantial and grand Victorian detached building is currently used as a House in Multiple Occupation (HMO). The current licence allows up to 20 people to live in the property at any one time. That said, the scope for development (STPP) in to a number of apartments is more than obvious too.

A grand entrance hall and doorway is testament to the Victorian era this home was built in.

Given the central location it is ideal for the town centre and mainline train station: it's no wonder it is normally fully occupied.

The ground floor is licensed for seven occupants. ‘Room let 3' has the extra benefit of its own front door, separate lounge, kitchen, WC & double bedroom. The rooms are serviced by a shower room/utility area with WC and separate WC.

The first floor is licensed for seven people. Room let 6 being the largest, with plenty of character courtesy of the turret and a balcony which enjoys a pleasant outlook over the tree-bordered side garden. A shower room with toilet provide the services on this level.

Off the stairs to the second floor are a separate WC/shower room and a bathroom with WC. On the second floor there are a further 3 room let’s licensed for 6 people. Room let 10 has a kitchen/diner and a lounge/bedroom with turret, whilst Room let 12 has its own separate kitchen. A large attic space will be of great benefit too.

Owners Comments:-

We have owned and operated the property as a HMO for 35 years and now wish to retire. It has been almost fully occupied with very few voids, providing us with a steady inflation proof income. In the 1960's it was a Guest House and (STPP) is ideally suited to that use or conversion into large Flats with much character as many of the original Victorian features still exist. All Flat lets are sub-metered for electricity and 10 also for gas.

This is a unique opportunity to acquire a substantial investment property that is let.

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Letting Fee Information

1) Tenant Referencing Fee - 1st Applicant £200.00 + VAT = £240.00. Plus £100.00 + VAT = £120.00 for each tenant thereafter.

2) Admin Fee for Tenant  (Check out )
    Studios, One Bedroom, Two Bedrooms -  £120.00 + VAT £24.00 = £144.00
    Three Bedrooms -  £150.00 + VAT £30.00 = £180.00
    Four Bedrooms -  £200.00 + VAT £40.00 =£240.00
    Five Bedroom -  £250.00 + VAT £50.00 = £300.00

3) Holding Deposit - £300.00 which will be deducted off the first month’s rent.

4) Tenancy Renewal - £100.00 + VAT = £120.00

5) Tenancy Deposit - Typically six weeks of the monthly rent, lus first month’s rent in advance. (For Example. Rent £1000.00 per calendar month paid in advance. Tenancy Deposit £1500.00. (six weeks rent) full amount payable at start of tenancy £2500.00.)