55-61 Seaside Road, Eastbourne, BN21 3PL

£1,150,000
For Sale

Area Eastbourne

If you prefer to speak to someone:

Call us on: 01323 700100 or 01424 404004

Call us on: 01323 700100 or 01424 404004

Overview

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%.

Tenancy Schedule
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

Location

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.

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