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Freehold Investment For Sale, 253, Battle Road, st Leonards, TN37 7AN

not specified / Retail / Retail - High Street

For Sale - £150,000.00

Available - Last updated: 11 April 2019

A semi-detached brick built building under a pitched roof, planned over lower ground, ground and first floors. The lower ground floor is used for storage purposes, the ground floor as an off licence with storage area and kitchen, and the first floor a 2 bedroomed flat with lounge and bathroom. The flat is centrally heated by way of a gas fired boiler. There is a large garden to the rear. Access to the upper floors is down the side passage, and through the garden. Whilst at the moment the entire property is used as one, it would be possible, subject to obtaining the necessary consents, to self-contain the 2 bedroom flat from the shop.
( Agency Pilot Software Ref: 9927 )

Location

St Leonards is a suburb of the East Sussex town of Hastings. The property is situated on the very busy Battle Road (B2159). The building forms part of a small neighbourhood shopping centre, on the corner of Battle Road and Ashbrook Road. Occupiers include a Lloyds Pharmacy, a Best One convenience store with post office, and other local traders. Restricted parking is permitted outside the building. Directly opposite the property is a very substantial housing estate, served by this neighbourhood centre.

Accommodation

Ground Floor:

Shop 350 sq ft

Rear Store 112 sq ft

Kitchen 91 sq ft

Terms

Lease The entire property is let on a 15 year full repairing and insuring lease from 15th April 2005 (expiring April 2020) to Chirag Patel at a passing rent of £11,200 per annum exclusive. There is an upward only rent review in April 2015. 

VAT is not chargeable on this sale.

Price Offers in excess of £150,000 are requested for the freehold interest. A purchase at this level will show a net initial yield of 7.2% after taking into account the purchaser’s costs of 2.8%

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
  For Sale Freehold £150,000.00 NA

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Nick Bradbeer

SHW

01273 803966



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