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.
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.
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.
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.
Each party is to be responsible for their own legal fees
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