Size 1,010 sq. ft
Size 93 sq. m
The premises comprise of a high profile vacant self contained retail shop and basement with front and rear access, traditional wooden shop front, W.C and visible retail unit with ground floor retail sales area and stairs which lead to an additional basement retail area. To the side of the building is a separate communal pedestrian path with external stairs leading to a two bed flat on the first floor and a two bed flat on the second floor.
The shop and basement – Vacant
Flat 1 let on AST £650 PCM – Lease dated 19/03/2020
Flat 2 let on AST £700 PCM – Lease dated 03/06/2021
Current Passing Rental
Ground Floor Retail and Basement ERV £20,000 per annum
First Floor Flat £7,800
Second Floor Flat £8,400
Total Annual Rent £36,200 per annum
Please note the second floor flat suffered a recent small fire which is being dealt with via an insurance claim and is currently with loss adjusters.
196 Terminus Road, Eastbourne, East Sussex, BN21 3BB
The premises are situated in the heart of the main retail area of Eastbourne being Terminus Road and the property is within a short level walk of the main Beacon Shopping Centre which has recently had a major overhaul and extension. The mainline railway station is also within a short distance as are many local and national retailers and restaurants. This particular area of Terminus Road benefits from an excellent footfall and is the principle pedestrian route from the station and shopping centre to the seafront
The ground floor shop and basement are also available To Let on a new full repairing and insuring lease with a term to be agreed at a rent of £20,000 per annum
Fair and reasonable contribution towards common parts
Each party is to be responsible for their own legal fees.
Subject to the existing ASTs', we invite offers in the region of £550,000 for the freehold interest, showing a net initial yield of 6.25% after deducting 5% purchaser’s costs.
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