Freehold Retail and Residential Ground Rent Investment
Shop trading as Brighton Nails
Shop tenant in occupation since 2015 and operating as the same family business since 2008
Popular trading location close to Superdrug, Dominos, Sainsbury's, Costa Coffee and KFC.
VAT-free investment
In the same ownership for over 22 years
Lot 19
Auction 17th February 2022
Rent £17,750 per Annum Exclusive
Status Sold
Price £267,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
12 miles east of Worthing, 21 miles west of Eastbourne, 54 miles south of Central London
Roads
A23, A27, A270, M23 (Junction 1)
Rail
Brighton Railway Station (55 minutes to London Victoria)
Air
London Gatwick Airport
Situation
Located on the south coast of England, less than an hour from London by train, Brighton is one of the UK's most popular destinations. The property is situated in a prominent location on London Road (A23) close to the intersection of York Hill and about 1/2 mile from the seafront. Nearby occupiers include Superdrug, Dominos, Sainsbury's, Costa Coffee and KFC.
Tenure
Freehold.
Location
Miles
12 miles east of Worthing, 21 miles west of Eastbourne, 54 miles south of Central London
Roads
A23, A27, A270, M23 (Junction 1)
Rail
Brighton Railway Station (55 minutes to London Victoria)
Air
London Gatwick Airport
Situation
Located on the south coast of England, less than an hour from London by train, Brighton is one of the UK's most popular destinations. The property is situated in a prominent location on London Road (A23) close to the intersection of York Hill and about 1/2 mile from the seafront. Nearby occupiers include Superdrug, Dominos, Sainsbury's, Costa Coffee and KFC.
Tenure
Freehold.
Description
The property comprises a ground floor shop with a basement cellar (not used) and two floors of residential accommodation above, let on long leases.
VAT
VAT is not applicable to this lot.
Completion Period
6 Week Completion.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor shop with a basement cellar (not used) and two floors of residential accommodation above, let on long leases.
VAT
VAT is not applicable to this lot.
Completion Period
6 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
Ground
Retail/Ancillary
50.80 sq m
(547 sq ft)
AN INDIVIDUAL
10 years from 08/11/2014
£17,500 (1)
First/Second
Residential
-
(-)
TWO INDIVIDUALS
125 years from 14/11/2014
£250 (2)
Total Commercial Area
50.80 sq m
(547 sq ft)
£17,750
(1) A rent deposit of £5,000 is held and the 2019 rent review was not implemented (2) The ground rent doubles every 25 years
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
