Overview
Freehold Investment, Including Two Let Shops
The Premises comprise a four storey detached building with two fully let Shops on the Ground Floor and 3 Flats above. The Flats are accessed via a private entrance facing Meads Street, with stairs leading to the upper parts. Each Flat is sold off on a long leasehold paying either a Peppercorn or a Ground Rent.
Tenure
Freehold for Sale subject to the existing Commercial Leases and Long Leasehold on Flats above.
A Tenancy Schedule is available on request.
The Opportunity
To purchase a fully income producing Commercial/Residential Investment in a prominent location, which is fully income producing with well established Commercial Tenants, with potential for Lease Extensions on Flats 1 & 3.
Total income produced £33,240.
Size
Amenities
Location
The Premises are situated in the affluent Meads Street, a small suburb of Eastbourne where there are a number of niche retailers, local retailers, Cook, Tesco Express and CoOp. There are also several major Private Schools within the vicinity. Eastbourne Town Centre is approximately a mile away with its Mainline Railway Station, Beacon Shopping Centre and many other facilities.
Rent
Business Rates
According to the Valuation Office website the premises are described as follows:
3a Shop and Premises £12,250
3b Shop and Premises £11,500
VAT Details
VAT is NOT applicable to the terms.
Legal
Each party is to be responsible for their own legal fees
Terms
Price
Total income produced £33,240
Guide Price of £415,000 producing a net yield of 7.75%
