Freehold end of terrace property arranged as a ground floor retail unit, with rear office/store, kitchenette, WC, basement storeroom and parking for two vehicles and is currently operating as Pier 1 bathroom store.
The first and second floor office space, which has separate access at the rear and two parking spaces, is let to Hove Business Centre Limited.
The current passing rent is £68,000pa.
LEASE DETAILS
The ground and basement floors are let to BAGSVERD LTD on a 15 year FRI Lease from 12th December 2018 with a tenants break clause on the 12th December 2028 requiring 6 months notice.
Current rent £45,000pa until the 11th December 2024, then as per rent review clause in the Lease to be reviewed every 3 years (2024/2027/2030). There is a schedule of conditions attached to the Lease. Copy available.
The first and second floor office space which has separate access at the rear is let to Hove Business Centre Limited, on a 16 year FRI Lease from the 7th April 2019, break clause on the 10th May 2027 and 10th May 2031. Current rent £23,000pa, rent review every fourth anniversary from 7th April 2023.
Location
The building forms part of a terrace in the busy thoroughfare on the South side of Church Road on the corner of Albany Villas. The area is populated by well-established independent amd commercial traders, including restaurants, bars and coffee shops. Numerous buses serve the area and Hove Railway Station is within walking distance.
Accommodation
GROUND FLOOR RETAIL
130 sq.m.
BASEMENT STORAGE
36.3 sq.m.
FIRST FLOOR OFFICE
70.6 sq.m.
SECOND FLOOR OFFICE
67.8 sq.m.
Terms
LEGAL FEES
Each party will be responsible for their own costs incurred in relation to the transaction.