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 £13,200 per annum. There is also an additional £300 p.a. collected in relation to the ground rents. Total annual income £35,000
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)
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.
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 2021 = £11,458
Each party is to be responsible for their own legal fees.
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