196 Terminus Road, Eastbourne, East Sussex, BN21 3BB

£550,000
Sold Subject to Contract

Size 1,010 sq. ft

Size 93 sq. m

Area Eastbourne

If you prefer to speak to someone:

Call us on: 01323 700100 or 01424 404004

Call us on: 01323 700100 or 01424 404004

Overview

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.

Tenancies

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.

Location

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

Amenities

PRIME POSITION IN PEDRESTIAN SHOPPING AREA

2 X 2 BEDROOM SELF CONTAINED FLATS LET ON ASTS

NO VAT

36200 POTENTIAL INCOME

Rent

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

Service Details

Fair and reasonable contribution towards common parts

VAT Details

VAT will not be charged on the terms quoted.

Terms

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.

Get in touch

Speak to our commercial property team

Eastbourne: 01323 700100 • Hastings: 01424 404004 • Hove: 01273 634000

Eastbourne: 01323 700100
Hastings: 01424 404004
Hove: 01273 634000