12 Old Steine, Brighton BN1 1EJ

Property Details: • Type: N/A • Tenure: N/A • Floor Area: N/A

Key Features: • City centre freehold investment for sale • Historic Old Steine location in the centre of Brighton • Views over The Royal Pavilion and Old Steine Gardens • Within 250 metres of the seafront, Palace Pier and The Lanes • Let to Brighton Language College Ltd on a full repairing and insuring lease for a term of 10 years from 2 July 2018. Expiring 1 July 2028 with a passing rent of £36,500 per annum (£13.67/sqft) • Buildings & railings are Grade II listed • Potential for alternative uses in the future

Location: • Nearest Station: N/A • Distance to Station: N/A

Agent Information: • Address: 19 New Road, BN1 1UF

Full Description: Brighton - City Centre Language School Investment12 Old Steine is located in the heart of Brighton close to the junction with St James Street, overlooking The Royal Pavilion and Old Steine Gardens.The seafront, Palace Pier, The Lanes and Brighton's main retail centre are near by.The property is used as a language school. A new Use Classes Order (UCO) came into effect on 1st September 2020. Under the new UCO a new Use Class F1 was introduced to cover learning and non residential institutions. We therefore believe that the premises benefit from Class F1 within the Use Classes Order 2020. The property is let in its entirety to Brighton Language College on a 10 year full repairing and insuring lease from 2 July 2018. The passing rent is £36,500 per annum. A rent review from July 2023 has not yet been implemented.Rents and prices are quoted exclusive but may be subject to VAT.The building comprises a mid terrace period building with accommodation arranged over four floors. The lower ground floor benefits from a separate external access via a staircase from the pavement as well as access internally via the main stairwell. The lower ground floor also benefits from good natural light and access to a garden / courtyard area. Both the ground and lower ground floors have access to a private twitten which runs to the rear of the Old Steine.Rateable Value (2023): £26,250We understand the property has an EPC rating of C (70).Each party to bear their own legal costs incurred.In accordance with current Government legislation, we are legally required to conduct Anti-Money Laundering (AML) checks on all prospective purchasers or tenants where the transaction involves a capital value of €15,000 (EUR) or more, or a rental value of €10,000 (EUR) per calendar month or greater.This process includes verifying identity, as well as confirming the source and availability of funds. Please note that we must obtain and record this information before any transaction can be formalised or contracts exchanged.City centre freehold investment for saleHistoric Old Steine location in the centre of BrightonViews over The Royal Pavilion and Old Steine GardensWithin 250 metres of the seafront, Palace Pier and The LanesLet to Brighton Language College Ltd on a full repairing and insuring lease for a term of 10 years from 2 July 2018. Expiring 1 July 2028 with a passing rent of £36,500 per annum (£13.67/sqft)Buildings & railings are Grade II listedPotential for alternative uses in the future