89-90 London Road (A23) Brighton East Sussex BN1 4JF

89-90 London Road (A23)
Brighton
East Sussex
BN1 4JF

Freehold Retail Investment

Popular south coast resort
1 mile from Brighton city centre
Shop let to The Martlets Trading Co (guaranteed by Martlets Hospice Ltd) until 2025 (no breaks)
Nearby occupiers include Maplin, Superdrug, NatWest, WH Smith and Domino’s
The property is held in a Single Purpose Vehicle (SPV), which may be available by separate negotiation.

Lot
38
Auction
19th October 2017
Rent
£65,000 per Annum Exclusive
Status
Sold Post
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Retail Investment

Popular south coast resort
1 mile from Brighton city centre
Shop let to The Martlets Trading Co (guaranteed by Martlets Hospice Ltd) until 2025 (no breaks)
Nearby occupiers include Maplin, Superdrug, NatWest, WH Smith and Domino’s
The property is held in a Single Purpose Vehicle (SPV), which may be available by separate negotiation.

Lot 38
Auction 19th October 2017
Rent £65,000 per Annum Exclusive
Status Sold Post
Price
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 1 mile north of Brighton city centre, 50 miles south of London
Roads: A23, A27, A270
Rail: Brighton Railway Station, London Road Railway Station
Air: Gatwick

Situation

The property is situated on the east side of the busy London Road (A23), opposite the junction with York Hill, in a prominent position in the centre of the commercial pitch. Nearby occupiers include Maplin, Superdrug, NatWest, WHSmith, Domino’s, Poundstretcher and many more.

Tenure

Freehold.

Location

Miles: 1 mile north of Brighton city centre, 50 miles south of London
Roads: A23, A27, A270
Rail: Brighton Railway Station, London Road Railway Station
Air: Gatwick

Situation

Tenure

Freehold.

Description

The property comprises of an attractive mid terrace mixed use building comprising retail accommodation on the ground floor with self-contained residential accommodation on the upper floors. The property benefits from a significant frontage to London Road.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Description

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

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	Review/ (Reversion)
Ground	Retail	282.4 sq m	(3,040 sq ft)	THE MARTLETS TRADING CO LIMITED guaranteed by the Martlets Hospice Limited	10 years from 13/03/2015	£65,000	13/03/2020 (12/03/2025)
First Second, Third	Residential 4 x 2 Bed Flats	Not measured		PPNL SPV872-1 Limited	999 years from 23/07/2015	Peppercorn	(22/07/3014)
Total Commercial Area		282.4 sq m	(3,040 sq ft)			£65,000

(1) The Martlets is a registered charity that provides high quality palliative care. The Martlets operates a hospice in Hove and 9 charity shops in the Brighton and Hove region (www.themartlets.org.uk). For the year ending 31st March 2016, The Martlets Trading Co Ltd reported a turnover of £1,744,414, pre-tax profits of negative -£10,966 and a total net worth of £4,006 (www.riskdisk.com 22/08/2017). For the year ending 31st March 2016, The Martlets Hospice Limited reported pre-tax profits of £1,625,982 and a total net worth of £9,216,990 (www.riskdisk.com 22/08/2017).