A rare opportunity to purchase a fully income producing freehold investment in central Brighton. The property comprises ground and lower ground floor commercial trading with self-contained 1 bedroom maisonette over.
Location
Situated in the heart of central Brighton, close to The Lanes and within walking distance of Brighton Seafront. Ship Street receives a high amount of footfall and is regarded as one of Brighton’s busiest thoroughfares. Occupiers close by include The Ivy In The Lanes, Ivy Asia, Pizza Pilgrims, Fred Perry, Ted Baker and ASK Italian.
Accommodation
Shop:
Ground Floor 232 ft² / 21.6 m²
Lower Ground Floor 121 ft² / 11.3 m²
Total Floor Area: 353 ft² / 32.7 m²
Holding over at a current rent of £22,000 pa ex.
Lease renewal in solicitors hands on the following terms:
The Brighton Creamery LLP at a rent of £22,000 pa ex on a 10 year lease with upward only rent review at the 5th anniversary. Tenant break at years 3 & 5. £5,500 rent de-posit. - Rent £22,000
Flat - Self contained maisonette comprising living room and kitchen on 1st floor with bedroom and bathroom on 2nd floor. - Let on an Assured Tenancy at a rent of £650 pcm.
In need of refurbishment.
Council Tax Band B. Rent - £7,800
Total Present Annual Income - £29,800
Please note: A schedule of works is required on the property. The landlord is to be responsible for the works with the commercial tenant contributing a set figure towards these. Costings and a full schedule are available on request.
Terms
Terms - Offers are invited in the region of £450,000 for the FREEHOLD interest of the property (subject to existing tenancies).
EPC Rating - Shop - D 98; Flat - to be assessed