This is a mid terraced premises offering a ground floor shop and basement currently let to a well established hair salon with ground floor toilets to the rear and staircase leading to lower ground storage , kitchen, WC and access to rear service road and car parking space. The upper parts offer a self contained 3 bedroom maisonette with access via a service road that runs along the back of the parade. The flat has recently had a boiler and hot water tank replacement and benefits from gas fired heating and double glazing.
| Accommodation | ||
| Area | Sq ft | Sq m |
| Ground Floor | 737 | 68.5 |
| Lower Ground | 609 | 56.5 |
| 3 Bed Maisonette (net area) | 866 | 804 |
Fully Let Income Producing Shop & Basement with 3 Bedroom Self Contained Maisonette - Offers sought in the region of £395,000 representing a blended yield of 7.14%
The premises are situated in the very busy established Albert Parade, Old Town of Eastbourne within 1 ½ miles of the town centre and where there are a number of niche retailers, is a Sainsburys Local store, COOP, pharmacy and soon to be finished brand new Doctors Surgery. The area is dominated with several large parks, schools and residential properties.
According to the Valuation Office website the premises are described as:
Shop and premises
Rateable Value: £13,500
Each party is to be responsible for their own legal fees.
Offers sought in the region of £395,000 representing a blended yield of 7.14%.
Tenure
For Sale with the benefit of the existing commercial lease on the ground floor and basement and the Assured Shorthold tenancy of maisonette above.
Shop let 10 years from 2021 with 5 year rent review and break option - Rent £18,000
Flat let on rolling AST to long standing tenant at a rent of £850 pcm - Rent £10,200
Estimated Rental Value of Flat is £1050 pcm - Total £28,200
VAT will not be charged on the terms quoted.
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