28 Seaside Road, Eastbourne, BN21 3PB

£475,000
For Sale

Size 1,965 sq. ft

Size 182 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

This property comprises ground floor and basement retail shop which has traded as a Premier Convenience Store for many years under the same ownership with six flats above.

Four of the flats have been sold off on long leaseholds with two flats being offered in the sale with vacant possession.

The approximate size is as follows:

Main Retail Shop – 1,965 sq ft (182.5 sqm)

Large Basement (Unseen)

Side entrance to flats

Flat numbers 3 and 5 – One bed flats

The current tenant holds a 16 year effective full repairing and insuring lease from September 2007 having four yearly rent reviews. The current passing rent being £22,000 per annum. The Lease is in the name of Mr R Abbas who has traded for many years at the property.

The two flats are currently producing a rental of £12,780 per annum. There is also an additional £300 p.a. collected in relation to the ground rents. Total annual income £35,080

Offers are invited in the region of £475,000 for the freehold investment with the benefit of the long ground lease, the lease on the shop and the two vacant flats.

EPC Rating is C65 (of 51-75)

Location

28 Seaside Road, Eastbourne, BN21 3PB

Eastbourne is major seaside town on the south coast, with a population now in excess of 100,000 and a catchment of 250,000. Eastbourne has many local amenities and has regular train services to Brighton, London Victoria and Ashford International. Eastbourne is approximately 50 miles from Gatwick Airport and has good road links via the A22 London Road and the A27 coast road.

Amenities

One rear toilet

Goods lift to basement

Business Rates

According to the Valuation Office website the premises are described as:

Shop and premises

Rateable Value: £23,338

Payable for the year ending 31st March 2020 = £11,458

VAT Details

VAT will not be charged on the terms quoted.

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