Brighton Office:
01273 70 10 70
Crawley Office:
01293 40 10 40
Brighton Residential:
01273 60 10 60
Haywards Heath:
01444 45 84 44
Freehold Investment For Sale: Freehold Commercial Investment For Sale

195 - 201 Church Road, Hove, BN3 2AH

Interested in this property? Call our Brighton Office : 01273 70 10 70

An impressive corner terrace of freehold buildings made up of four adjoining properties all fronting Church Road, with a return to Sackville Road, at the busy and high profile junction with Hove Street and New Church Road. An established retail and office location with a Tesco Superstore with on site car parking only 200m away and a collection of local businesses including various estate agents, Optimax opticians, a number of restaurants and kitchen/bathroom showrooms. Church Road is Hove's leading shopping area linking central Hove into Brighton via Western Road.

KEY FEATURES

  • Freehold Commercial Investment
  • Residential Upper Parts (sold off)
  • Prominent Corner Location - Central Hove
  • Attractive Yield

An opportunity to acquire a freehold commercial property investment of an impressive corner block comprising a number of established local traders and one vacant unit, which can be leased or owner occupied. The residential upper parts have been sold producing a ground rent income of £100pa each / £600pa..

PROPERTY DETAILS

Retail with Residential Upper Parts (sold off) 2500 sq ft (232.26 m2)

TENANTS

195 - currently occupied by the Hove Bathroom centre - www.hbcforbathrooms.com

197 - currently occupied by Bertie & Belle hairdressers - www.bertieandbelle.co.uk

199 - currently occupied by the Drury cafe - www.drurycafe.co.uk/church-road

201 - currently vacant with an estimated rental value (ERV) of £27,500 per annum, exclusive

LEASE INFORMATION

195 - leased to the Hove Bathroom Centre Ltd for a term of 10 years from 20th July 2015 at a current rent of £30,000 per annum, exclusive. Tenant only break clause 20th July 2020. There is a Personal guarantee on the lease.

197 - leased to B & B Kids Cuts Ltd t/a Bertie and Belle for a term of 5 years from 5th December 2014 at a rent of £12,000 per annum, exclusive. There is a tenant Rent Deposit held. (the lease is outside the provisions of the LTA 1954 sections 24 to 28)

199 - leased to the Drury Southern Ltd for a term of 5 years from 23rd December 2014 at a rent of £20,000 per annum, exclusive. There is a Rent Deposit held. (the lease is outside the provisions of the LTA 1954 sections 24 to 28)

201 - currently vacant with an estimated rental value of £27,500 per annum, exclusive.

Total Rental Income (if fully let) £89,500 per annum, exclusive.

TERMS

Offers are invited on a guide price of £1,250,000 (one million, two hundred and fifty thousand pounds) for the freehold interest and subject to the existing commercial tenancies and ground rent income from the residential upper parts.

A purchase at this level would reflect a Net Initial Yield after standard purchaser costs of 6.8%.

Retail with Residential Upper Parts (sold off) For Sale: £1,250,000

VAT

There will be no vat applicable to this transaction.

Legal Fees

Each party to be responsible for their own legal costs.

Viewing Arrangements

Strictly via prior appointment through sole agents Graves Jenkins

CONTACT

Phil Graves
[email protected]

James Haywood
[email protected]

Angela Gregory
[email protected]


These particulars are believed to be correct but their accuracy is not guaranteed. They do not form any part of any contract. You should be aware that the Code of Practice on Commercial Leases in England and Wales strongly recommends you seek professional advice from a qualified surveyor, solicitor or licensed conveyancer before agreeing or signing a business tenancy agreement.