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27 Duke Street, Brighton, BN1 1AG
2,017 Sq Ft / Other / Residential
Withdrawn - Last updated: 23 October 2023
Summary
An impressive 5 storey building that has recently been converted & refurbished to form retail unit at ground floor with a 7 bedroom holiday let arranged throughout the remainder of the building. The holiday let has been finished to a good standard with superb communal area at lower ground floor level with a small outside space and a mix of rooms throughout the building 5 of which have en-suite facilities.
Key Points
Freehold £1,200,000Desirable City Centre LocationCombining retail investment & Holiday letGrowth rental in retail elementRecently refurbished
Reversion
The ground floor commercial unit is currently let at £27,500 with a rental increase to £30,000 per annum exclusive. At £30,000 this equates to a zone a rate of £103 whilst recent letting have taken place at 10 Duke Street (£151) May 2023 & 13 Duke Street £46,500 (£137.37) October 2022 & as such we feel that the space is currently under rented.
Location
The property is situated on the northern side of Duke Street Brighton in a central position close to Brighton's famous Lanes, Churchill Square Shopping Centre & The Seafront.Terms
Offers are invited in the region of £1,200,000 for the freehold interest. Our client holds the property in an SPV & as such would also consider a share sale of the company should this be preferable to potential purchasers.
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