The premises comprise a mid-terraced ground floor shop with access to a rear garden and leading to a service road for vehicular access. The property has been totally refurbished and comprises of a small lock up shop totalling approximately 120 sq ft, with its own toilet and facilities. At first and second floor levels there are two refurbished flats, which have been sold off on new 125 year Ground Leases.
The Shop is let on a 1 Year Renewal Licence from 1 May 2024 with a rental producing income of £4,000 per annum exclusive of VAT.
Refurbished Investment - Small Income Producing Lock Up Shop with Ground Rent from 2 Long Leasehold Flats Above
The premises are situated on the eastern side of Seaside between the junction of Seaford Road and Hydney Street. The seafront is approximately 300 yards to the east and the town centre 1 mile to the west. The area is made up of a mix of housing, schools and tertiary shops with hotels close by.
Our clients are seeking offers of £42,500 for the freehold interest with the benefit of the shop income and the two long leasehold flats.
According to the Valuation Office website the retail premises are described as:
Shop and premises
Current rateable value (1 April 2023 to present) £4,650
Each party is responsible for their own fees.
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