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Mixed Freehold Commercial & Residential Investment

Guide price: £600,000.00|Auction date: 2023-11-22|Lot: TBC|Flat, Pubs/Bars/Clubs, Pubs/Bars/Clubs, Residential, Licensed & Leisure

Property details

SIZE1,883.7 Sq Ft
ADDRESSQueens Road, Brighton
TYPEFlat, Pubs/Bars/Clubs, Pubs/Bars/Clubs, Residential, Licensed & Leisure
TENUREFor Sale Freehold
TENANCYInvestment
POSTED ON17th October 2023

Description

SOLD AT AUCTION

Mixed Freehold Commercial & Residential Investment

An excellent opportunity to purchase the freehold of this attractively designed building comprising of a public house and restaurant, together with a self contained one bedroom first floor flat. The pub/restaurant and kitchens have been recently modernised.

Trading as the Royal Standard, the premises occupies a first class position in Queens Road, literally within a stones throw from Brighton Mainline Railway Station as well as providing immediate access to the city centre of Brighton as well as the seafront.

The property is able to be purchased with full vacant possession if required or if preferred, on a sale and leaseback as per the terms of the draft lease as detailed within the legal pack. Terms will be for a 20 year term at an initial passing rent of £50,000 per annum for the ground and lower ground floors.

The first floor flat is one of 3 flats in the building with the other 2 having been sold off on long leases. The flats enjoy the benefit of a separate entrance in Queens Road. The rent from the flat is currently (in our opinion) underlet at £12,000 per annum.

Total rental income available is at least £62,000 at a yield of 10.3% or if the flat was to be sold and the commercial element retained, this is able to be increased to 11.1%.

Location

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Location: Queens Road, Brighton

Brighton (0.1 miles)

London Road (Brighton) (0.7 miles)

Hove (1.4 miles)

Agent's details

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