The town of Peacehaven is conveniently placed 2 miles west of Newhaven Port and approximately 6 miles east of the city of Brighton & Hove, with Brighton Marina just under 4 miles away.
All the essential amenities for everyday living are locally available including various parades of local shops, schools, banks, post office and various pubs and restaurants. The area is serviced by a regular bus service.
The building is located on the corner of Keymer Avenue and the A259 South Coast Road with panoramic views over the English Channel
KEY FEATURES
- Mixed Use Investment For Sale
- Commercial leased to Subway Restaurants
- 7 apartments on three upper floors
- Modern Contemporary Building
Mixed-Use Fully Let Investment For Sale
Seven Contemporary Apartments With Parking Ground Floor Leased To Subway Restaurants
PROPERTY DETAILS
|
Seven Contemporary Apartments with Parking
|
|
|
ACCOMMODATION
The development was completed in 2007 and consists of seven self-contained contemporary apartments, comprising 5 two-bedroom, 1 one-bedroom and 1 two-bedroom penthouse. Each apartment has its own car parking space and is service by a lift to all floors.
The ground floor commercial area is leased to Subway Restaurants.
TENANCIES
Ground Floor Restaurant leased to Subway Restaurants on a 10-year lease from April 2009 with a mid-term rent review and a tenant-only break April 2009.
Current rent £22,000 per annum exclusive. Seven apartments over all leased on shorthold tenancies, with monthly incomes as follows.
1 £800 pcm
2 £775 pcm
3 £750 pcm
4 £695 pcm
5 £785 pcm
6 £775 pcm
7 (Penthouse) - £975 pcm
Total: £5,555 pcm - £66,420 per annum.
TOTAL RENTAL INCOME: £88,420 PER ANNUM
PRICE
Offers invited on our asking terms £1,150,000 (one million, one hundred and fifty thousand pounds) – a purchase at this level would reflect a gross yield of approximately 7.7%.
|
Seven Contemporary Apartments with Parking
|
For Sale: £1,150,000
|
Viewing Arrangements
Strictly via prior appointment through Agents Graves Jenkins