Floorplans
Auction Guide £195,000 to £200,000
FREEHOLD COMMERCIAL PREMESIS
Extremely rare opportunity to be able to purchase this freehold commercial premises with parking space currently let to Brighton and Sussex Care Ltd who are holding over via an IRI lease at a passing rent of £8,750 per annum which in the opinion of the auctioneers is significantly below market value with perhaps a rental amount of £12,000/£14,000 being more appropriate and reflective of current market values.
The initial terms of the lease was for a period of 4 years from 16th April 2012 until 15th April 2016, granted inside the 1954 Landlord & Tenant Act.
It is considered that subject to necessary consents, the property has significant potential for an additional floor, conversion into a residential dwelling, 2 separate self contained flats or mixed residential and commercial.
Situated in this highly popular and sought after location close to the centre of Kemptown with its excellent range of shops, restaurants, bars and coffee shops and the seafront. In turn there is easy access to St James Street and the City Centre of Brighton with its own extensive facilities and mainline railway station. Bus services access all parts of Brighton & Hove.
PLEASE NOTE THE PROPERTY IS SITUATED IN ST MARKS STREET BRIGHTON HOWEVER RETAINS THE POSTAL ADDRESS OF 19A ROCK STREET, BRIGHTON, BN2 1NF
Property details
- Auction Date: 28th February 2023
- Freehold Commercial Investment
- Immediate Rental Uplift Available
- Tenant Currently Holding Over Since 2016
- Significant Development Potential SPP
- With Parking Sace
- Extremely Rare Opportunity
Auction Guide £195,000 to £200,000
FREEHOLD COMMERCIAL PREMESIS
Extremely rare opportunity to be able to purchase this freehold commercial premises with parking space currently let to Brighton and Sussex Care Ltd who are holding over via an IRI lease at a passing rent of £8,750 per annum which in the opinion of the auctioneers is significantly below market value with perhaps a rental amount of £12,000/£14,000 being more appropriate and reflective of current market values.
The initial terms of the lease was for a period of 4 years from 16th April 2012 until 15th April 2016, granted inside the 1954 Landlord & Tenant Act.
It is considered that subject to necessary consents, the property has significant potential for an additional floor, conversion into a residential dwelling, 2 separate self contained flats or mixed residential and commercial.
Situated in this highly popular and sought after location close to the centre of Kemptown with its excellent range of shops, restaurants, bars and coffee shops and the seafront. In turn there is easy access to St James Street and the City Centre of Brighton with its own extensive facilities and mainline railway station. Bus services access all parts of Brighton & Hove.
PLEASE NOTE THE PROPERTY IS SITUATED IN ST MARKS STREET BRIGHTON HOWEVER RETAINS THE POSTAL ADDRESS OF 19A ROCK STREET, BRIGHTON, BN2 1NF
