Freehold property originally built as 2 houses. There are two flats over with separate entrances sold off on long leases 198 years from 1986 both flats paying £XXXa ground rent (rising).
The commercial unit is let to Ladbrokes Betting & Gaming Limited on a 5 year FRI lease expiring 24.12.2016 at a passing rent of £15,XXXa. Ladbrokes are now holding over.
There is currently a Head Lease over the shop (also owned by the Vendors) but the sale includes that Head Lease.
Total income from whole property currently £15,XXXa
It may be possible, subject to the usual consents to convert the ground floor commercial into 2 flats in the future.
Location
The property is situated on the western side of Lewes Road close to the Lewes Road Gyratory.
The area has a wide range of local and national occupiers including Sainsburys Supermarket, Machine Mart, M&S Food and Pizza Hut.
Accommodation
Ground Floor
Retail area: 784sq.ft (72.83m2)
Separate male and female w.c.'s; Staff WC; Staff Kitchen and Store; Door to rear yard