The premises form part of a terrace of properties and comprise of two ground floor shops and basement with six flats above (as per the attached Schedule). The premises are currently producing a rental of £75,120 p.a.
Access to a data site containing relevant documentation is available – details upon request.
Offers are invited in the region of £1,150,000 representing a net initial yield of 6.15%, assuming purchaser’s costs of 5.75%.
| Property | Tenant | Lease | Rent £PA |
| Rear Basement | 8,100 | ||
| Flat 1 | 7,740 | ||
| Flat 2 | 9,000 | ||
| Flat 3 | 8,700 | ||
| Flat 4 | 6,300 | ||
| Flat 5 | 7,500 | ||
| Flat 6 | 6,780 | ||
| Shop 1 & basement | Zap Off Licence Ltd | 10 year effective full repairing and insuring from October 2020 - 5 yearly rent review & 5 year break clause | 11,500 |
| Shop 2 & basement | N. Marani | 5 year effective full repairing and insuring from 16.4.2019 | 8,000 |
| Total | £73,620 |
55-61 Seaside Road, Eastbourne, BN21 3PL
These premises are situated in Seaside Road being just off the main shopping area of Terminus Road which in turn leads to the Beacon Shopping Centre. Eastbourne is a major coastal town and is approximately 20 miles east of Brighton and 70 miles south of London. Eastbourne is serviced with regular rail networks to London Victoria, Ashford International, Brighton and Hastings and the road connections are the A27 Brighton, A259 coast road and A22 London Road.
Each party is to be responsible for their own legal fees.
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