icons_size_white icons_size
menu

Agent's details

Ground floor, 18 Regent Street, Brighton, East Sussex

For sale: £190,000.00|320 Sq Ft|Office, Other, Offices, Other Property Types & Opportunities

Property details

FOR SALE£190,000.00
SIZE320 Sq Ft
ADDRESSGround floor, 18 Regent Street, Brighton, East Sussex
TYPEOffice, Other, Offices, Other Property Types & Opportunities
TENUREUnder Offer, For Sale Freehold
POSTED ON13th April 2021

Description

Description

Ground floor retail/office investment for sale.
Long term income secured against a high quality covenant

Location

The property is situated on the western side of Regent Street in the popular North Laine district of Brighton. The North Laine is a popular mixed use area with the predominant uses being retail, office, leisure and residential.

Planning

Planning consent was granted Ref BH2013/03327 for A1, A2 or B1 Use for the subject property. A new Use Classes Order (UCO) came into effect on 1 Sept 2020 which introduced a new Use Class E which covers commercial, business and service uses. Use Class E now covers Use Classes A1, A2 and B1 under the former UCO. It also includes A3 and some D1 and D2 uses. Therefore providing a wide range of uses to which the property could be put if the current tenant chooses not to renew in Sept 2030.

VAT

Rents and prices are quoted exclusive of, but may be subject to VAT.

Accommodation

The property comprises the ground floor to one of a terrace of recently constructed attractive 3 storey buildings which are predominantly in residential use.

The building has been designed for minimum maintenance and benefits from a 10 year Latent Defects insurance and 20 year flat roof material guarantee.

The unit is arranged as a self-contained commercial unit with separate bike and electrical room.

We are advised that the property has a Net Internal area of approximately 29.73 sq m (320 sq ft).


EPC

We understand the property has an EPC rating of A.

Legal Fees

Each party to bear their own legal costs incurred.

Terms

The property is for sale by way of a long lease at a peppercorn rent together with a share in the freehold interest.

Offers are invited in the region of £190,000. A purchase at this price would reflect a Gross Yield of 5.26%, a Net Initial Yield of 5.12% and a Reversionary Yield of 5.79% following this September 2025 rent review.

LEASE

The property is let to JoJo Maman Bebe Ltd on a full repairing and insuring lease for a term of 10 years from 9th September 2020 with a 5th year rent review. The passing rent is £10,000 per annum exclusive with an automatic increase to £11,315 at the 5th year review.
( Agency Pilot Software Ref: 3713 )

Location

marker
Location: Ground floor, 18 Regent Street, Brighton, East Sussex

Brighton (0.3 miles)

London Road (Brighton) (0.8 miles)

Hove (1.5 miles)

close
What do you think of our website?
Complete our survey and
you could win £1000
Start here