Summary
The property comprises ground floor accommodation consisting of a reception, waiting area and parlour, with a further parlour, kitchen and store to the rear. The property is currently operated as a tattoo parlour.
Key Points
Tenure
The property is available by way of a sale of the virtual freehold interest with a term of 999 years from 24 June 2004 and is subject to the existing tenancy.
Tenancy
The property is currently let on an effectively full repairing and insuring lease for a term of 5 years from 9 October 2019 with a passing rent of £XXX per annum, reviewable annually. The same tenant has been in occupation since 2006. The lease is outside of the provisions of the Landlord and Tenant Act 1954.
Price
Offers are invited in excess of £XXX A purchase at this price will provide a gross yield of 7.5%.
VAT
We believe VAT is not applicable on the terms quoted.
Legal Costs
Each party to be responsible for their own legal costs.
Ground Rent and maintenance
There is a ground rent of £XXX per annum. Maintenance of the property is a 25% share of the cost which is passed to the commercial tenant via the lease.
Business Rates
The Rateable Value is currently £XXX with a UBR of 49.9 p in £XXX We suggest interested parties contact the Local Rating Authority for confirmation of the actual amount payable.
Location
Seaford is situated along the Sussex coast approximately 13 miles east of Brighton and 10 miles west of Eastbourne. Road communications are good, with the town easily accessed via the A27/A26. Seaford's railway station offers journeys to the South Coast, London and beyond.
The property is located within the High Street, home to a wide range of retailers including a butchers, a Chinese takeaway and a gift shop.