Attractive Investment arranged over 4 levels located in a popular Kemp Town retail location.
Freehold FOR SALE
The property is situated on the northern side of St Georges Road, located in the popular Kemp Town area of Brighton and is situated within the principle commercial area of St George Road.
The immediate vicinity is characterised by mainly residential, retail, caf� and restaurant uses. The Royal Sussex County Hospital and Brighton College are located close by to the north.
We understand that the ground floor premises benefit from A1 use within the Use Classes Order 1987 (as amended).
The upper parts are residential.
Rents and prices are quoted exclusive of, but may be subject to VAT.
The property comprises a four storey mid-terraced building. The property is arranged as follows:
Ground floor - retail lock up shop that is currently used as a card and gift shop.
First and second floor - 2 bedroom residential flat that has been sold on a long lease. The lower ground level is included within the residential flat.
Ground floor retail unit: 20.50 sq m (221 sq ft)
Business Rates / Council Tax Band
Rateable Value (2017): £10,000.
As the RV is below £12,000 we believe 100% small business rate relief is possible.
We understand the property has an EPC rating of C.
Each party to bear their own legal costs incurred.
The freehold interest is offered for sale with offers in excess of £147,000.
The retail unit is occupied on a lease dated 04/09/2013 for a 10 year term, inside the act. The rent is currently £8,000 per annum.
The residential flat is occupied on a lease dated 01/06/2011 for a 125 year term, paying a ground rent of £150 per annum, increasing to:
£300 in 2036,
£600 in 2061,
£1,200 in 2080,
£2,400 in 2111.
( Agency Pilot Software Ref: 3367 )