Auction Brochure - May 2022

We know just the place…

Property Auction Friday 6th May 2022 11am The Dyke Golf Club Devil’s Dyke Rd Brighton BN1 8YJ

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A very warm welcome to our May Auction

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A view from the rostrum

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ollowing the enormous success of our last auction in February, I am pleased to able to advise that demand for investment and development properties is still as strong as ever with the slightly higher interest rates we now have being significantly offset by a much higher level of rents being achieved, whilst developers are still able to rely on a healthy rising market to underpin re sale values.

Interestingly and perhaps significantly, I am constantly being asked for portfolio purchases as many of our overseas investors are wishing to secure unbroken blocks comprising of anything between 5 and 20 flats under one freehold title, something that will provide cash rich buyers with a quick and instant income. Price requirements for these types of portfolios range from anything between £1m and £20m with the South Coast seen as providing a far more favourable investment yield than in and around London.

If you should have a portfolio you are thinking of selling or would like some advice it would seem now, might be as good a time as any to contact me.

In the meantime, I very much look forward to seeing you at the auction.

Simon Caplin ANAVA ANAEA​ Director, Lextons Estate Agents, simoncaplin@lextons.co.uk

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Today’s order of sale Auction Guide Lot 1 Charity Lot: Fine dining Experience at Etch in Hove

Lot 2 Bush Road, Newhaven, BN9 9AB

Lot 3 Land at Tarring Road, Worthing, BN11 5BL

Lot 4 Pelham Court, Coombe Road, Brighton, BN2 4FL

Lot 5 26 Queen Alexandra Avenue, BN3 6XH

Lot 6 Land at Downes Way, East Preston, Littlehampton BN16 1AA

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£100

£35,000+

SOLD PRIOR

£300,000+

SOLD PRIOR

£150,000

Lot 7 147 Bannings Vale, Brighton, BN2 8RL

£350,000 – £375,000

Lot 8 Warehouse, 5b Station Road, Portslade, BN41 1GA

£200,000+

Lot 9 Garages, 5b Station Road, Portslade, BN41 1GA

£100,000+

Lot 10 Workshop, 5b Station Road, Portslade, BN41 1GA

£50,000+

Lot 11 13 Arundel Street, Brighton

£500,000+

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Lot 1 Charity Auction: Fine dining Experience at Etch in Hove

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All proceeds raised from this lot are being donated to Chestnut Tree House children's hospice who provide care and support for children and young people with life-limiting and life-threatening conditions across Sussex and South East Hampshire, so please do bid generously.

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Lot 2

ush Road, Newhaven, B BN9 9AB

Auction Guide

£35,000+ Freehold SCAN FOR LEGAL PACK

FREEHOLD LAND WITH 4 PARKING SPACES

Extremely rare opportunity to be able to purchase 4 car parking spaces with private road & verges situated in Piddinghoe, Newhaven. Potential to build large garage (SPP) Tenure: Freehold Aerial photo and location plan are for indicative identification purposes only and should not be relied upon so far as their accuracy is concerned.

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Lot 3

Land at Tarring Road, Worthing, BN11 5BL

Sold Prior Freehold

FREEHOLD LAND WITH PLANNING PERMISSION

Very wide freehold parcel of land with planning permission granted on 1/12/2021 for the erection of a 2-storey, 3 bedroom detached family house with south facing first floor balcony and parking to driveway.

The land is situated just to the west of 318 Tarring Road (between West Worthing Station and the footbridge) providing excellent commuter links.

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Lot 4

elham Court, Coombe P Road, Brighton, BN2 4FL

Auction Guide

£300,000 Freehold SCAN FOR LEGAL PACK

SIGNIFICANT DEVELOPMENT OPPORTUNITY (SPP)

Extremely rare opportunity to be able to purchase the freehold of this purpose built block of flats comprising of 38 flats all sold on long leases producing a combined ground rent income of £1,910 per annum. We are advised that in addition to the yearly ground rent income received, the freeholder also receives the amount of approximately £1,900 per annum by way of insurance commission.

It is considered that under Permitted Development Rights, additional floors may be able to be constructed on the existing roof thereby affording additional flats to be built (STNC) whilst within the existing car park of approximately 11 parking spaces, it is considered there is further development potential for a block of flats or town houses to be built (STNC). Alternatively the car parking spaces are able to be rented out thereby providing rental income.

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Lot 5 26 Queen Alexandra Avenue, BN3 6XH

Sold Prior Freehold

VACANT FAMILY HOUSE

An exceptional and extremely rare opportunity to purchase this 3 bedroom family house with private drive and garage situated within this highly sought after location of Goldstone Valley close to local facilities including Hove Park with its open playing areas and tennis courts. There are also schools for all age groups close by.

As you enter, the ground floor offers space, with separate kitchen with a selection of white goods and the reception is to the rear overlooking the rear garden and full of light. There is plenty of space for dining and a sitting area with a serving hatch between the kitchen and dining areas. Also to the ground floor is a cloakroom WC. To the first floor are three bedrooms, all of a good size and the first bedroom having a door to a private balcony with sea views. The bathroom is of a good size.

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Lot 6

Land at Downes Way, East Preston, Littlehampton, BN16 1AA

Auction Guide

£150,000 Freehold SCAN FOR LEGAL PACK

LAND WITH OUTLINE CONSENT FOR DETACHED PROPERTY

Land with outline consent for detached property Rare opportunity to purchase this freehold plot of land with outline planning permission granted on appeal dated 24th September 2021 to be able to build a most attractive 4 bedroom detached chalet style house within this popular of location.

To be able to review all of the planning documents please visit: https://www.arun.gov.uk/planning-application-search Using the planning reference number A/151/20/OUT Aerial photo and location plan are for identification purposes only and should not be relied upon.

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Auction Guide

Lot 7

47 Bannings Vale, 1 Brighton, BN2 8RL

£350,000 – £375,000 Freehold SCAN FOR LEGAL PACK

RESIDENTIAL INVESTMENT AS 1 X 1 BED FLAT, 1 X 2 BED FLAT AND GARAGE

Freehold residential investment arranged as 2 self contained flats and lock up garage.

Ground Floor 1 bedroom flat with front garden currently vacant Ground Floor 2 bedroom flat and front area to be sold with vacant possession Single Garage currently vacant Approximate rental potential of £22,800 per annum when fully let.

First Floor Flat sold off on long lease with approximately 79 years remaining.

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Lot 8

arehouse, 5b Station W Road, Portslade, BN41 1GA

Auction Guide

£200,000+ Freehold SCAN FOR LEGAL PACK

VACANT FORMER WAREHOUSE WITH DEVELOPMENT POTENTIAL (SPP)

An extremely rare opportunity to be able to purchase this detached freehold warehouse over 2 floors considered to be ideal for storage purposes together with a selection of other uses such as offices, community centre, learning facility, workshop, artists studio etc (subject to any necessary consents that might be required).

The total GIA is approximately: 135 sq m, 1453 sq ft Situated within this extremely central location just off Boundary Road Portslade with the entrance being situated in Vale Road. Close by is the mainline railway station, local shops, bars, restaurants, coffee shops and the seafront.

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Lot 9 Garages, 5b Station Road, Portslade, BN41 1GA

Auction Guide

£100,000+ Freehold SCAN FOR LEGAL PACK

3 INTERCOMMUNICATING GARAGES WITH DEVELOPMENT POTENTIAL (SPP)

Rare opportunity to be able to purchase 3 intercommunicating garages, each with additional forecourt parking to include the freehold.

The total GIA is approximately: 61 sq m, 657 sq ft Situated within this extremely central location just off Boundary Road Portslade with the entrance being situated in Vale Road. Close by is the mainline railway station, local shops, bars, restaurants, coffee shops and the seafront.

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Lot 10 Workshop, 5b Station Road, Portslade, BN41 1GA

Auction Guide

£50,000+ Freehold SCAN FOR LEGAL PACK

WORKSHOP/STORAGE UNIT

An extremely rare opportunity to be able to purchase this single storey freehold workshop/storage unit.

The total GIA is approximately: 22 sq m, 237 sq ft Situated within this extremely central location just off Boundary Road Portslade with the entrance being situated in Vale Road. Close by is the mainline railway station, local shops, bars, restaurants, coffee shops

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Auction Guide

Lot 11 13 Arundel Street, Brighton

£500,000+ Freehold SCAN FOR LEGAL PACK

RESIDENTIAL INVESTMENT AS 3 X 1 BEDROOM FLATS

3 self contained flats with freehold all currently let on AST's Exceptional and extremely rare opportunity to be able to purchase this freehold investment building currently fully let and producing a variable net rental income of approximately £31,000 per annum plus £150 ground rent from the lower ground floor flat totalling £31,150 per annum.

Ground Floor Flat let on an Assured Shorthold Tenancy producing £11,220 per annum (including gas & electricity). First Floor Flat let on an Assured Shorthold Tenancy producing £11,220 per annum (including gas and electricity). Top Floor Flat let on an Assured Shorthold Tenancy producing £11,220 per annum (including gas & electricity). Total gross rental income £33,810. Lower Ground Floor Flat sold off on a Long Lease Potential to increase the rent to correct market value

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For you at the auction today

Rix and Kay Solicitors It is not often free expert legal advice is readily available whereupon I am delighted to announce that property experts Angela Arnold, Emma Woodward from Rix & Kay, one of Brighton & Hove’s leading firm of solicitors specialising in all aspects of the Law will be joining us at the auction so please do go and see them on the day for any advice you might require or send an email. angelaarnold@rixandkay.co.uk emmawoodward@rixandkay.co.uk

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The benefits of The Auction Room The Online Auction

vs

The Auction Room

The Online Auction

1 Is the auctioneer able to use their skill, technique and experience to influence proceedings during the auction itself to ensure a higher selling price is achieved?

2 If the auction stalls for a particular lot is the auctioneer able to re start it?

3 Is the auctioneer able to change the incremental bids during the auction to the benefit of the seller?

4 Will the competitive nature and buzz of the auction room with buyers actively bidding against each other significantly increase the final selling price?

5 Can I continue without an Internet connection?

T O DAY ’ S C H O S E N C H A R I T Y I S C H E S T N U T T R E E H O U S E

Support local children who need hospice care.

Registered charity no 256789

Through the good days, the bad days and the last days.

Chestnut Tree House is your local children’s hospice. From helping children families make magical memories together, to helping them say goodbye in whatever way feels right for them. We are there to support them on every step of their journey.

Donate. Fundraise. Get involved. www.chestnut-tree-house.org.uk 01903 871820 hello@chestnut-tree-house.org.uk Search Chestnut Tree House

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Get in touch today

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We know just the place…

We specialise in many aspects of property including: Auctions Residential Sales & Lettings Commercial Sales & Lettings Investment & Development Advice Portfolio Valuations Land & New Homes Landlord & Tenant Advice Acquisitions Valuations

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Important Notes For Bidders DON’T FORGET THE FALL OF THE HAMMER CONSTITUTES EXCHANGE OF CONTRACT THESE NOTES ARE INTENDED TO ASSIST PROSPECTIVE BUYERS AND SHOULD BE READ CAREFULLY. THEY ARE NOT HOWEVER, EXHAUSTIVE AND WE WOULD STRONGLY ADVISE YOU TO TAKE PROFESSIONAL ADVICE IF YOU ARE INTERESTED IN BIDDING FOR ANY OF THE LOTS.

PARTICULARS The particulars have been prepared diligently and all reasonable steps have been taken to ensure the they are correct. Neither Lextons nor the seller for whom they are Agents will, however, be under any liability in respect of them. Prospective buyers must satisfy themselves by inspection and enquire as to the correctness of any information. No person within the employment of Lextons has any authority to make or give any representation or warranty whatsoever in relation to any of the lots.

CONDITIONS OF SALE Each property is offered and sold subject to the Royal Institution of Chartered Surveyors Common Auction Conditions together with the variations specific to Lextons (4th Edition), variations and the special conditions for each lot. We hold the deposit as Agent for the Vendor except on lots where VAT is applicable. In this situation we would hold the deposit as Stakeholder.

ADDENDUM A separate Addenda or Addendum will be produced, if necessary, to detail any changes to any of the properties or the Conditions of Sale.

These will be available at the Auction and prospective buyers are advised to ensure that they have an up to date copy as they will be deemed to have read the Addendum whether they done so or not.

LEGAL DOCUMENTATION Copies of the relevant documents including Office Copy Entries or Epitomes of Title, Leases, Local Authority Searches and other legal documentation is available to download online at https://passport.eigroup.co.uk Prospective buyers are strongly advised to take professional advice prior to bidding as they will be deemed to have made the usual Pre-contract Enquiries.

INSPECTIONS It is essential that you inspect any property in which you are interested as you will be deemed to have done so if you bid.

All appointments to view must be made through Lextons; inspections of investment properties are also by courtesy of the tenant(s).

GUIDE PRICES AND RESERVES Generally speaking Guide Prices are provided as an indication of each seller’s minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

CONSUMER PROTECTION FROM UNFAIR TRADING REGULATIONS We have not tested any apparatus, equipment, fixtures, fittings or services and so cannot verify that they are in working order or fit for purpose.

A Buyer is advised to obtain verification from their Solicitor or Surveyor.

Proof Of Identity And Bidder Registration In order to comply with the 4th EU money laundering directive (mld4) we are required as property auctioneers to follow certain procedures. We are required to verify your identity and we are combining this with registration for bidding. We will require you to provide one from each of the following lists for photocopying: LIST A

LIST B

Current Passport

Utility bill dated within the last 3 months

Current UK Photo Driving License

Local Authority/Council Tax Bill (current)

Current Full UK Driving License (old version)

Bank or Building Society statement

Resident Permit issued by the Home Office

Most recent Mortgage Statement (original)

Inland Revenue Tax notification

Confirmation from electoral roll

We may use electronic identification service providers to verify the documents. We are also required to keep records of such identification. All information will be stored securely in accordance with the data protection act

Firearms certificate Self-employed in the construction

industry form C155, C156 or SC60 PROXY BIDDING a) If you are bidding on behalf of another person, we will require that we have either identified them previously, or that we are provided with true certified copies from a solicitor, together with identification for yourself. A further requirement is a letter signed by the buyer authorising you to sign the contract on their behalf. b) If you are bidding on behalf of a company, the above documentation will be required along with a letter of authority from the said company to purchase on its behalf or proof that you are a director of the company (such as a letter from Companies House bearing your name) If you are not a UK resident or for any reason are unable to provide any of this information then we may need to obtain electronic verification of your status. In such instances a small administration charge will be made. If you think that this may be necessary we recommend that you contact us in advance of the auction in order for us to process your details. If we are unable to verify your details then we reserve the right to refuse your bid.

Please fill in the form below providing your solicitor’s details in order to fast-track the completion of the sales memorandum should you successfully purchase with us.

Please complete this form and return it in person to a member of the auction team with the relevant identification documents.

This can be done at: • The auctioneer’s office, 174 Church Road, Hove, BN3 2DJ Monday to Friday 9am-6pm.

• At the auction from an hour before until the commencement of the auction. Bidder registration cannot be done after the start of the auction.

Bidder Name(s) Company Name if applicable Address

Email Tel: Home Mobile:

Business:

Solicitor inc Address

ID PROVIDED: List A

List B

Proxy Bidder Signature(s)

Date

Registered bidders will be provided with bidding paddles on the day of the auction. Please return them to us once the auction is finished. The auctioneer reserves the right to refuse your bid if you do not have a bidding paddle.

Authorisation For Bidding By Proxy Or By Telephone (By Prior Appointment Only)

Please select method of bidding:

Proxy

Telephone

I/We hereby instruct and authorise Lextons to bid on my/our behalf in accordance with the terms and conditions and I understand that if my bid is successful, the offer will be binding upon this company/me. Lextons will act as my agent to bid on my behalf if required, taking my instructions in this respect on the telephone when the relevant lot is being sold at the Auction. I/We authorise you to record such bidding and instructions in order to avoid any doubts or disputes.

I confirm I have carefully read and understand the Special Conditions of Sale for the property concerned.

Date of Auction:

Lot Number:

Address of Lot: Post Code

Maximum Bid Price (Proxy Bids Only): (in words)

Pounds

I attach my deposit cheque for 10% of my proxy bid or in the case of a telephone bid, 10% of the maximum guide price, subject to a minimum fee of £2,000 plus the documentation fee as detailed within the legal pack. I also enclose copies of documents confirming my identity giving evidence of my address.

Or I enclose copies of documents confirming my identity giving evidence of my address and have made the above payments by bank transfer directly into Lextons Client Account via the account details as provided.

Deposit cheque in the amount of £

or proof of payment via bank transfer in the amount of £

enclosed.

PROSPECTIVE PURCHASER DETAILS Full Name(s)/Company Address Post Code Telephone Home/Business/Mobile

Email

Solicitors Post Code FAO

Telephone

Email Signature of Prospective Purchaser/Person signing on Purchaser’s behalf: Name in BLOCK CAPITALS Full Name & Address of Signatory (if different from details given above) :

Date: If my bid is successful, I further authorise the auctioneer to sign the Memorandum of Sale on my behalf, and as such, I recognise that I will then be the fully bound purchaser of the property referred to above and must complete the purchase of the property within the time specified in the Special Conditions of Sale.

TERMS AND CONDITIONS FOR BIDDING BY PROXY OR BY TELEPHONE The Form: This form must be fully completed and signed/dated by the prospective purchaser and delivered to our offices no less than 24 hours prior to the day of the auction together with the appropriate payment.

Proxy Bid: The auctioneer or his staff will compete in bidding up to the maximum of the authorised proxy bid. If successful, the purchaser will be informed as soon as is practicable. Telephone Bid: A member of the Auctioneer’s staff will attempt to contact the bidder by telephone prior to the lot concerned being offered for sale. If contact is made then the bidder may compete in the bidding through the Auctioneer’s staff. The bidder accepts that they are unable to participate in the auction if it is impossible to obtain telephone contact or the line breaks down. The Deposit: The form must be accompanied by a deposit payment. a) For Proxy Bids 10% of your bid or minimum £2,000 plus our documentation fee as detailed within the legal pack b) For Telephone Bids 10% of the maximum guide price or minimum of £2,000 plus our documentation fee as detailed within the legal pack. Payment can be made by cheque (business or personal) drawn on a UK bank only made payable to Lextons, bank/building society draft or bank transfer. With proxy bids, if the property is purchased at a figure less than the amount of the bid, the payment will be used in full as a deposit. If, with a telephone bid, the purchase price is higher that the guide price, then a balancing amount will be required from the purchaser to make up the deposit to the required figure. If the purchase price is less than the guide price, then the payment will be used in full as a deposit. In the event the bidder is unsuccessful the full amount of the deposit will be returned/refunded. Proof of Identity: To adhere with the 5th EU Money Laundering Directive (MLD5)

Memorandum of sale Date: Lot Number/Address of Property

Name & Address of SELLER

Name & Address of BUYER

Name & Address of SELLER’S SOLICITOR

Name & Address of BUYER’S SOLICITOR

Price (in words, excluding any VAT)

Deposit Paid

Balance due upon completion

The seller agrees to sell and the buyer agrees to buy the lot for the price. This agreement is subject to the conditions so far as they apply to the lot/property.

I/we the above named buyer/s hereby acknowledge that I/we have today purchased the property described above and in the attached particulars and have paid to Lextons Property Auctions the above mentioned deposit in part payment of the above mentioned purchase price.

It is acknowledged and warranted that I, as the person who bid for the lot and have signed this agreement if not the buyer/s named above, have full authority to act on behalf of the buyer/s.

I/we have read, understood and agree to the General and Special Conditions of Sale, any addenda and the notes for bidders.

Signed by seller

Date

Signed by buyer

Date

Completion date

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Redhill

Crawley Horsham

Haywards Heath

W ES T S USS E X

EAST S USS E X

Burgess Hill

Lewes

Chichester

Littlehampton Bognor Regis

Worthing

Shoreham by-Sea

Brighton & Hove

St Leonards on-Sea Seaford

Hastings

Eastbourne

Our auctioneer really does have

Sussex covered. x

AUCTIONS, SALES, RESIDENTIAL LETTINGS, COMMERCIAL SALES & LETTINGS, VALUATIONS, MANAGEMENT

Next Auction July 2022

Hove Office 174 Church Road, Hove, BN3 2DJ 01273 56 77 66 hovesales@lextons.co.uk

New Brighton Office 35 South Road, Brighton, BN1 6SB 01273 359 111 brightonsales@lextons.co.uk

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