The premises form part of a neighbourhood parade of shops adjacent to Tollgate Junior School. The parade boasts a variety of traders to include One Stop, Post Office Counters, Lidl, Fox and Son Estate agents and a number of independent traders. There are bus stops immediately adjoining the scheme going in both directions and parking bays servicing the shops.
The premises comprise of a ground floor self contained shop trading as a Post Office with 3 modern self contained flats adjoining the ground and first floor. Externally there is also a Gas storage facility.
At present the investment produces a total rental income of £38,250 per annum.
Please see the attached tenancy schedule.
Offers are invited in the region of £575,000 for the freehold interest subject to the existing leases with the benefit of the current income reflecting a yield of 6.33% allowing 5% purchasers costs
518 Seaside, Eastbourne, BN23 6NJ
The property is located on the northern side of Seaside within a busy neighbourhood parade of shops on the A259 St Anthony’s Road opposite the junction with Queens Crescent within ¼ mile of the Admiral Retail Park and 2 miles east of Eastbourne Town Centre. The town is vibrant with a population in excess of 100,000 with a catchment of over 250,000 within a 20 minute drive. Eastbourne is well serviced by both rail and road networks with direct trains to London Victoria (85 minutes), Brighton (30 minutes) and Ashford (69 minutes). The main roads into the town are:the A22 London road, A27 Brighton road and A259 coast road.
Eastbourne has many amenities and presently Legal and General have recently extended The Beacon shopping Centre. The £85 million development provides a further 186,114 sq ft retail and restaurant space and includes a 9 screen multiplex cinema.
The premises are described as Shop and Premises with a rateable value of £5,300.
The shop qualifies for Small Business Rate Relief
The residential properties have the following Council Tax Banding
Flat 1 Band A
Flat 2 Band A
Flat 3 Band A
Each party is to be responsible for their own legal fees
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