77 Grand Parade Brighton East Sussex BN2 9JA

77 Grand Parade
Brighton
East Sussex
BN2 9JA

Freehold Guesthouse Investment

Entirely let to Pavilion Reach Limited on a 15 Year Lease until 2027
Attractive 6 storey Georgian style guesthouse with 11 bedrooms and 7 bathrooms
Prominent position on Grand Parade opposite the Royal Pavilion
5 minutes to the Brighton Pier and Seafront

Lot
3
Auction
9th July 2014
Rent
£27,500 per Annum Exclusive
Status
Sold
Price
£590,000
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Interested?

Expand
Photos
Map

Freehold Guesthouse Investment

Entirely let to Pavilion Reach Limited on a 15 Year Lease until 2027
Attractive 6 storey Georgian style guesthouse with 11 bedrooms and 7 bathrooms
Prominent position on Grand Parade opposite the Royal Pavilion
5 minutes to the Brighton Pier and Seafront

Lot 3
Auction 9th July 2014
Rent £27,500 per Annum Exclusive
Status Sold
Price £590,000
Sector
Leisure
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 55 miles south of Central London, 24 miles west of Eastbourne
Roads: A23, A27, A26
Rail: Brighton Rail Station
Air: London Gatwick Airport (28 miles)

Situation

The property is located on the east side of the A23 Grand Parade opposite the Royal Pavilion and close to the junction with Edward Street. Brighton city centre, The Lanes, the pier, seafront and railway station are all within a short walk from the property.

Tenure

Freehold.

Location

Miles: 55 miles south of Central London, 24 miles west of Eastbourne
Roads: A23, A27, A26
Rail: Brighton Rail Station
Air: London Gatwick Airport (28 miles)

Situation

Tenure

Freehold.

Description

The property comprises an attractive Georgian style townhouse with 6 storeys of guesthouse accommodation. There are 11 bedrooms, 7 bathrooms and the current configuration can accommodate groups of up to 34 people. The property has views of the Royal Pavilion to the front and a small courtyard to the rear.

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
Lower Ground Ground First Second Third Fourth	Guesthouse	32.70 sq m 70.19 sq m 56.27 sq m 59.65 sq m 59.65 sq m 45.84 sq m	(352 sq ft) (756 sq ft) (606 sq ft) (642 sq ft) (642 sq ft) (493 sq ft)	PAVILION REACH LIMITED (t/a Brighton Pavilion Gatehouse) (1)	15 years from 13/11/2012 until 12/11/2027 (2)	£27,500	13/11/2017 and 13/11/2022
Totals		324.30 sq m	(3,491 sq ft)			£27,500

(1) The property trades as the Brighton Pavilion Gatehouse, please visit their website for further details. www.brightonpaviliongatehouse.co.uk
(2)There is a tenant’s option to determine the lease on 12/11/2017 and 12/11/2022, requiring not less than 3 months notice in writing. There is a tenant’s deposit of £6,875 held by the Landlord which is repayable 5 years from the commencement of the lease. Please refer to the legal pack for further details.