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Property Details: • Type: 489 sq ft • Tenure: N/A • Floor Area: N/A
Key Features: • Located in a prime position • Mixed Use Building comprising Class E shop and 2 x 1-bed flats • Freehold Investment • Currently producing £37,200 per annum exclusive
Location: • Nearest Station: London Road (Brighton) Station • Distance to Station: 0.4 miles
Agent Information: • Address: 51 Old Steyne, Brighton, BN1 1HU
Full Description: Description A rare opportunity to purchase an income producing freehold investment property in a central and vibrant location. The property is configured over basement, ground and first floors comprising a shop and 2 x 1 bed flats. The combination of its prime location and current income stream makes this property an appealing investment opportunity, offering both immediate returns and long-term growth potential in Brighton's thriving rental market.
Location The property occupies a prominent position along Lewes Road, with nearby occupiers including Kamsons Pharmacy, Premier Convenience Store, St Martins Church and School, The Lewes Road Inn Pub, Subway, Betfred, and Co Op. There is also a range of other quirky independent retailers, cafes, restaurants, and bars nearby that benefit from being located in a high footfall area. Brighton Train Station is approximately 0.6 miles away which provides regular services to London and other areas in Sussex.
Terms Offers are invited in the region of £550,000 for the freehold interest of the property (subject to existing tenancies).
Tenancy Information Shop and First Floor Flat ? Let on a full repairing and insuring lease for a term of 16 years dated 22 December 2021 with a current passing rent of £24,000 per annum exclusive. Rent reviews are at every fifth anniversary of the lease term. There are no break clauses and the lease is contracted inside the Landlord and Tenant Act 1954.
Basement Flat (7a) ? Let on an AST from 1st September 2024 for a period of 12 months at a rent of £1,100 pcm.
The total annual income for the building is £37,200.
Rateable Value and Council Tax Shop ? Rateable Value of £11,000 Basement Flat ? Council Tax Band A First Floor Flat ? TBC
EPC's Shop ? Applied for Basement Flat ? 60 D First Floor Flat ? 52 E
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