12-14 Crown Street, Eastbourne, East Sussex, BN21 1NX | For Sale£220,000.00Details
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.
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.
The property is not elected for VAT.
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
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.
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.
For further information, email details or to arrange an inspection, please contact agents:
Simon Hunt T: 01323 700100 M: 07809 267729 E: firstname.lastname@example.org
Subject to contract sh/hc/07/17EnquiryThank you for your enquiry.