Freehold Retail Opportunity and Residential Ground Rent Investment
Substantial commercial unit of approx. 322.93 sq m (3,475 sq ft)
Commercial unit subject to mutual rolling breaks options
Of interest to owner occupiers and investors
Upper floors comprise 3 flats (sold off on long leases)
Busy location opposite Seaford Railway Station
Occupational Lease Outside the Security of Tenure Provisions of the Landlord and Tenant Act
VAT Free Investment
Lot 33
Auction 9th May 2024
Status Sold
Price £120,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
8 miles south of Lewes, 9 miles west of Eastbourne, 11 miles east of Brighton
Roads
A26, A27
Rail
Seaford Railway Station
Air
London Gatwick Airport
Situation
Seaford is a popular tourist destination on the East Sussex coast, with a resident population of approximately 20,000 and located 9 miles west of Eastbourne and 11 miles east of Brighton. The town is served by the A239 coast road and benefits from regular rail services to Brighton, Gatwick and London (Victoria).
The property is prominently located in the town centre opposite Seaford Railway Station and on the south side of Clinton Place in a busy retailing location.
Tenure
Freehold.
Location
Miles
8 miles south of Lewes, 9 miles west of Eastbourne, 11 miles east of Brighton
Roads
A26, A27
Rail
Seaford Railway Station
Air
London Gatwick Airport
Situation
Seaford is a popular tourist destination on the East Sussex coast, with a resident population of approximately 20,000 and located 9 miles west of Eastbourne and 11 miles east of Brighton. The town is served by the A239 coast road and benefits from regular rail services to Brighton, Gatwick and London (Victoria).
The property is prominently located in the town centre opposite Seaford Railway Station and on the south side of Clinton Place in a busy retailing location.
Tenure
Freehold.
Description
The property currently comprises a large ground floor shop with basement ancillary accommodation although may be capable of further subdivision. The upper two floors comprise 3 residential flats which have been sold off on long leases.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property currently comprises a large ground floor shop with basement ancillary accommodation although may be capable of further subdivision. The upper two floors comprise 3 residential flats which have been sold off on long leases.
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 sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Ground Basement
Retail/Office Ancillary
216.34 106.59
(2,328) (1,147)
SEAFORD ENVIRONMENTAL ALLIANCE (1)
A term of years from 13/10/2021 until 04/12/2026 (2) (3)
Peppercorn
First Second
Flat 4a Flat 4b Flat 4c
-
-
INDIVIDUALS
Let on 3 separate leases for a term of 125 years from 2003
£300
Total Approximate Commercial Floor Area
322.93
(3,475) (4)
(1) Seaford Environmental Alliance is a registered charity under number 1193511 and was set up by local residents to support community led climate action (www.seafuture.org). (2) The lease provides for a rolling mutual option to determine upon serving one month's written notice. (3) The lease is outside of the security of tenure provisions of the Landlord and Tenant Act 1954. (4) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk).
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.
