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Freehold Retail Investment , 92b-94 High Street, Uckfield, TN22 1PU

1,019 Sq Ft / Retail / Retail - High Street

For Sale - £200,000.00

Available - Last updated: 18 May 2019

Proposal. The freehold interest, subject to the two leases, is available at £200,000 providing a purchaser with a net initial yield of around 6.35% (allowing for anticipated purchase costs).

( Agency Pilot Software Ref: 5003 )

Location

Uckfield is a prosperous East Sussex town located at the junction of the A26 and A22, approximately 16 to 20 miles from the larger towns of Tunbridge Wells, Eastbourne, Brighton and Crawley. The town is expanding. Current development includes 1,000 homes within the bypass. The town is around 22 miles from the M23, 26 miles from the M25, and the railway station close to this property provides rail services to London Bridge and Victoria (around 1 hour 20 mins). The property has a prime town centre location, on the High Street, adjacent to Peacocks, opposite Boots and close to Waitrose, Superdrug and Tesco. The three main shoppers' car parks are all within easy reach.

Accommodation

Internal frontage 5.9m (19.3 ft)

Sales Area 86.6m2 (932 sq ft )

Office/Store/Kitchen 8.1m2 (87 sq ft)

Covered rear yard 11m2 (118 sq ft)

Terms

TENURE AND LEASES The freehold is available for sale, subject to two leases. 94 High Street, the ground floor shop, is let to The St Peter & St James Charitable Trust on an effectively full repairing and insuring lease for a term of 10 years from 4th January 2018, subject to a tenant’s break clause on 3rd January 2023 on 6 months prior notice. The rent of £13,000 per annum is subject to an upwards only rent review on 4th January 2023. We believe the rent passing to be significantly below the rental value. (The April 2017 rateable value is £17,250)

EPC 94 High Street has an EPC rating of D. 

VAT is not chargeable on the sale price.

PROPOSAL The Freehold interest, subject to the two leases, is available at £200,000, providing a purchaser with a net initial yield of around 6.35% (allowing for anticipated purchase costs).

Specification

  •  Freehold town centre shop for sale 
  • Close to Boots, Peacocks, Waitrose, Superdrug and Tesco
  • Close to the three main shoppers’ car parks 
  • Has the security of income offered by a charity 
  • Prominent, facing traffic entering town from the by-pass link

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
  For Sale Freehold £200,000.00 NA

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Charles Bramly

SHW

01273 068277



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