Overview
The Property offers a prominent Town Centre mid terraced five storey building of brick block construction with part tiled elevations under a pitched tiled roof. The Lower Ground Rear offers a Self Contained 1 Bedroom Flat currently let on a AST where the rent includes Electricity and Water.
The Ground Floor and Part Lower Ground provide a fully let and income producing Shop. There are an additional 5 flats sold on on 125 year long leaseholds paying a notional Ground Rent. Access to the Lower Ground and First Floor Flat is from the rear via a communal service alley.
Size
Amenities
Location
The Property is located within the town of Eastbourne on the South Coast of England. Eastbourne has a residential population of approximately 105,000 (Eastbourne Borough Council Website) and is located at the junction of the A22, A27 and A259. The Town is approximately 65 miles south of Central London, 24 miles east of Brighton and 18 miles west of Hastings. There are direct trains to London Victoria, Gatwick and Ashford International (Euro Star).
Position
The Property is situated on Grove Road, in an area known locally as ‘Little Chelsea’ which boasts a mix of uses including retail, leisure and offices. Occupiers include Tesco Express, Morrisons, Grove Road Doctors Medical Centre, and the Town Hall alongside various independent businesses specialising in art, interior design and designer clothing. The town’s new Beacon Shopping Centre and mainline railway station are a within a short level walk.
Rent
Business Rates
VAT Details
The Property is not elected for VAT.
Legal
Each party to be responsible for their own Legal Fees
Terms
We are instructed to seek offers in the region of £305,000 for the freehold subject to the existing lease, reflecting a yield of 8.6%.
