39-55 Marina & Milligans Bar & Cellar, Bexhill, TN40 1BQ

£950,000
For SaleUnder Offer

Area Bexhill

If you prefer to speak to someone:

Call us on: 01323 700100 or 01424 404004

Call us on: 01323 700100 or 01424 404004

Overview

Multi Let Mixed Use Freehold Investment For Sale

The parade is located on the northern side of ‘Marina’ and extends to the junctions of Sea Road and Wilton Road. The parade looks out to sea views with the famous De La Warr Pavillion, Bexhill Rowing Club and off street pay and display parking opposite. The town is vibrant with a population in excess of 44,000 and a catchment of over 250,000 within a 20 minute drive. Bexhill is well serviced by both rail and road networks with trains to London Bridge and Victoria stations. Hastings is 4 miles to the east with Eastbourne 11 miles to the west via the A259.

Guide Price

Total income £87,275 Commercial

Plus Peppercorn ground rents from the 30 residential flats above

Offers are invited in excess of £950,000 for the freehold interest with the benefit of the current income reflecting a yield of 9.67% net allowing 5% purchase costs.

Location

39-55 Marina & Milligans Bar & Cellar, Bexhill, TN40 1BQ

This impressive investment offers a rare opportunity to acquire a substantial and prominent unbroken parade of 9 commercial shops fully let and income producing. There are a total of 30 residential flats above sold off on individual long leaseholds paying peppercorn ground rents. The commercial tenants are a mix of independent traders offering a variety of business types that include, bars, estate agents, cafes and restaurants. Nearby is the prime retail street of Devonshire Road with occupiers including Boots, Savers, M & Co & Santander. The surrounding area is made up of predominately affluent residential with Hastings Direct 50,000 sq ft head quarters office building within 1 mile. To the north east of the town is Bexhill's main industrial estate with a varied mix of businesses.

Amenities

Opportunity to increase commercial rents

Rare unbroken parade

Town centre position

Fully let and income producing

VAT is not applicable to the sale

7 flats have less than 60 years unexpired

No VAT

Rent

Tenancies

A data room has been produced to provide a full schedule of tenancies for both the commercial and residential long leaseholds. Access is available upon request.

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