Description

An impressive two-storey corner freehold property forming part of a Parade of shops serving the local community and beyond.

Fully let and income producing from ground floor commercial lease, residential tenancy over, plus forecourt and rear yard area.

Key Features

• Ideal Freehold Investment
• Busy Trading Location
• Prominent Corner Building
• Fully Let and Income Producing - £19,800pa rising to £21,800pa in 2026

Accommodation

Ground Floor

Gross Window and Side Frontage: 28ft

Internal Width: 21’3”

Total Shop Depth: 29’4”

Total Commercial Accommodation: 340 sq ft (31.6 m2)

Divided into three partitioned sections, this property boasts a well-designed layout that includes a fully equipped galley kitchen positioned at the rear. The interior is well-kept with contemporary conveniences such as fitted carpets, gas-fired central heating, stylish strip and spot lighting, and double-glazed windows.

In addition, a practical rear courtyard area accompanies the flat, adding an extra dimension of utility and charm to the space.

Residential Accommodation with self-contained access from Hollingdean Terrace.

First Floor

Living Room: 10 '19” x 10' 01” – with bay window overlooking Hollingdean Place.

Kitchen: 13’ 38”  x 9’ 95” – galley kitchen fitted with floor cupboards.

Bathroom: 8’ 6” x 4’ 85” – fitted with bath, WC and sink.

Bedroom: 11' 82" x 11' 06" – with a large window at the rear of the property

Tenancy Information 

Ground Floor

Commercial ground floor – leased to Brighton Funeral Directors Ltd trading as Brighton Family Funeral Services on a lease for a term of 12 years from October 2023 at a rent of £9,000 per annum, exclusive, rising to £11,000 per annum, exclusive in 2026.

Tenant to hold the option to determine the lease at the anniversary every 3rd Year - subject to the tenant giving no less than 6 months’ written notice.

The lease is inside the Landlord and Tenant Act 1954 - Part II (as amended). 

First Floor

Residential first floor – let on a Shorthold Tenancy at £900 per calendar month - £10,800 per annum.

Total Current Rental Income: £19,800pa rising to £21,800pa in 2026.

Terms of Sale

Price – offers invited in excess of £350,000 (three hundred and fifty thousand pounds), for the freehold interest and subject to any current tenancies and income.

A purchase at this level would provide for a Gross Initial Yield of 5.66% rising to 6.23% in 2026.

Business Rates

Billing Authority: Brighton & Hove

- Description: Shop and Premises  
- Rateable Value: £5,000.00
- Rates Payable: 
- Valid from: April 2023 (current)

VAT

The property is not elected for VAT.

Legal & Professional Costs

Each party is to pay for their own legal fees incurred. 

Viewing Arrangements

Strictly via prior appointment through sole agent Graves Jenkins (01273 701070).