CENTRAL MIXED RETAIL/RESIDENTIAL INVESTMENT, PRODUCING £76,240PA
Freehold mid-terraced property arranged as a ground floor retail unit with basement stores let on a 10 year effective FRI Lease.
Total area approx 131 sq.m. (1,410 sq.ft)
The 3 upper floors are arranged as 3 self contained 1 and 2 bedroom flats, all let to Brighton and Hove City Council. The first floor 1 bed flat has the capacity to become a 2 bed unit by placing the kitchen in the lounge - subject to necessary consents.
Location
The building forms part of a terrace in the busy thoroughfare on the South side of Church Road, between Grand Avenue and Third Avenue. The area is populated by many well established independent traders, including restaurants, bars and coffee shops. Numerous buses serve the area and Hove Railway Station is within walking distance.
Accommodation
Ground Floor Retail Unit Zone A - 77.1 sq.m. (830 sq.ft)
Ground Floor Stores - 83.9 sq.m. (903 sq.ft)
First Floor Flat 1 - 1 bed; GIA 64 sq.m. (689 sq.ft)
Second Floor Flat 2 - 2 bed; GIA 46 sq.m. (495 sq.ft)
Third Floor Flat 3 - 2 bed flat; GIA 40 sq.m. (431 sq.ft)
Terms
TENANCIES
Ground and lower ground floor shop let to Nick Rivett Sport on an effective FRI Lease from Feb 2020 - 10 years, upward only rent reviews ever 3rd year, tenants option to break every 3rd year (6 months written notice).
RENT
Current Rental - £76,XXXa
EPCS
Ground Floor Retail Unit - D
Flat 1, 2 & 3 - C