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AGENT'S DETAILS


Prime High Street investment with upper parts sold on long leasehold interest

For sale: £110,000.00|436

PROPERTY DETAILS

FOR SALE£110,000.00
SIZE436
ADDRESS1 Belmont Buildings, High Street, Crowborough, East Sussex, TN6 2QB
TENUREInvestment Opportunity
POSTED ON11th May 2020

DESCRIPTION

Occupying a prominent High Street position close to the Fernbank Shopping complex and Morrisons supermarket and car park. Other businesses close-by include the Original Factory shop.

The premises were the subject of major renovation in 2018 separating the upper parts which now comprise a 1 bed flat having a separate access to the side of the shop.

Shop overall 36.5 sq m (402 sq ft). Large window to front, re-plastered walls and ceiling, recently decorated. Door at rear to:

kitchen 3.2 sq m (34 sq ft) with sink unit, door to outside plus further door to cloakroom fitted with a low level WC.

Total overall usable area 39.7 sq m (436 sq ft)

The premises are occupied by the company Crowborough Repair Specialists dealing with mobile phone, computer, tablet and console repairs, upgrades, accessories etc. They are held under the terms of a 6 year lease from May 2018 at a rent of £8,000pa. There is a rent review and tenant only break option at 3rd year.

There is one bedroom flat above sold on long lease with ground rent payable to the freeholder of £100.00pa plus contribution of 50% towards building insurance. Therefore total income to the freeholder is £8,100pa representing a return of 7.36% before purchasers costs.

LOCATION

Location: 1 Belmont Buildings, High Street, Crowborough, East Sussex, TN6 2QB

Crowborough (1.6 miles)

Eridge (2.4 miles)

Ashurst (4.4 miles)

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