Multi Let Mixed Use Freehold Investment
This impressive stylish periodic investment offers a rare opportunity to acquire a multi let mixed used investment consisting of two flats and a dental practice. The property is a semi detached 5 storey building with front and rear garden area in the affluent area of the town centre. The lower ground offers a self contained one bedroom flat with kitchen and bathroom, bedroom and store cupboard. Access is direct from the front of the property with steps leading to lower ground. The Dental practice have two separate co-terminus leases one being for the part lower ground and ground floor and the other for the first floor. The Practice currently use the lower ground floor as staff welfare and storage with the ground floor used as the reception area, and various dental treatment rooms. The first floor is currently used as offices and file storage with the intention to grow the practice by offering an additional treatment room. The second and third floors offer a substantial well appointed 4 double bedroom flat in excellent order. Access to this flat is via the front shared entrance with the dentist with stairs leading to the upper floors.
|Lower Ground Flat||AST from 29.11.19 and pay £7,200 pax|
|Part Lower Ground & Ground Floor Dentist||Lease dated 30.11.17 for 15 years - Rent £10,5000 pax on standard FRI terms|
|First Floor Dentist||Lease dated 30.11.17 for 15 years - Rent £10,500 pax on standard FRI terms|
|Second Floor Maisonette||AST from 3.4.18 - Rent £12,000 pax|
|TOTAL INCOME||£39,700 per annum exclusive|
12 Trinity Trees, Eastbourne, BN21 3LE
The property is located on the northern side of Trinity Trees, a tree lined street opposite Holy Trinity Church in the heart of Eastbourne town centre close to the primary shopping precinct known as The Beacon and within 300 yards of Eastbourne seafront. The town is vibrant with a population in excess of 105,000 and a catchment of over 250,000 within a 20 minute drive. Eastbourne is well serviced by both rail and road networks with trains direct to London Victoria, Gatwick and Brighton stations. Hastings is 4 miles to the east with Eastbourne 11 miles to the west via the A259.
Each party is to be responsible for their own legal fees.
Offers are invited in the of £850,000 for the freehold interest with the benefit of the current income reflecting a yield of 4.41% net allowing 5% purchase costs
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