• 12-14 Crown Street, Eastbourne, East Sussex, BN21 1NX | For Sale

        £220,000.00 
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        Details

        Description

        The property offers a rare opportunity to purchase a two storey premises with tiled covered pitched roof.  The building comprises two retail shops on the ground floor currently trading Village Vintage and the other is vacant.

        The upper parts comprise two studio flats with separate kitchens at ground floor and stairs leading to bathroom and lounge/bedroom. Each studio has a small courtyard and a private entrance to each.  Access to the residential is via a private side access path to the right of the building.

        Location

        The property is located within the sought after village of Motcombe in the Old Town of Eastbourne and offers a mix of residential and commercial accommodation.  Occupiers include Waitrose, various public houses, cafes, antique shops, post office. Eastbourne town centre is ½ mile away to the east. The property is within 100 yards of the A259.  

        VAT

        The property is not elected for VAT.

        Rates

        The property has the following rateable values:-

         

        12 Crown Street.            Shop & Premises    £2,750

        14 Crown Street.            Shop & Premises    £2,650

        Flat 12a.                         Council Tax Band A

        Flat 14a.                         Council Tax Band A

        Tenancy Details

        Premises Tenant Rent Notes
        Shop No. 12 Mrs C Buss £1,680
        ERV £4,000 pax
        Tenant holding over. Vacant possession is
        possible by serving notice on the tenant.
        Shop No. 14 Vacant ERV £4,000 pax Vacant
        12a Studio Mr Nelson ERV £6,000 pax Tenant has been given notice to vacate
        14a Studio Vacant ERV £6,000 pax Vacant

        Total potential income £20,000 pax

         The property offers potential to add value by refurbishment of the residential  and/ or combining the studio apartments creating a large 2 bedroom apartment with courtyard.

        It is considered the shops have potential for rental increasing to a minimum of £4,000 per annum exclusive.

        Proposal

        We are instructed to seek offers in the region of £220,000 for the freehold subject to the existing lease albeit vacant possession can be gained if required.  This reflects a yield of 9% once fully let.

        Viewing

        For further information, email details or to arrange an inspection, please contact agents:

        Simon Hunt
        T: 01323 700100
        M: 07809 267729
        E: simon@huntcommercial.co.uk

        Subject to contract sh/hc/07/17

        Enquiry

        Please fill in the following form and we will contact you to discuss your requirements.

        Thank you for your enquiry.