ADDRESSPelham House, 25 Pelham Square, Brighton, East Sussex, BN1
TYPEOffice, Other, Offices, Other Property Types & Opportunities
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON4th October 2021
Prominent Freehold mixed use corner investment in the popular North Laine area of Brighton FOR SALE
The south coast city of Brighton and Hove is approximately 55 miles south of Central London, 50 miles east of Portsmouth and 25 miles west of Eastbourne. The city benefits from excellent transport infrastructure. The A23(M) provides north south access and connects with the A27 - providing east west access - immediately north of the city. Brighton station is just 300 metres to the west of the property
The property is prominently positioned on the corner of Trafalgar Street and Pelham Square within the North Laine area of the city. The North Laine is a popular and diverse location within which to live and work. It forms the city's main independent retail area. It is also a popular office and residential location. Trafalgar Street is one of the principle retail streets within the North Laine.
Brighton and Hove is one of the fastest growing conurbations in the country with a population increase of around 8.4% over the past decade and a 6.6% growth forecast by 2030.
We are informed that the property is VAT elected and it proposed that the sale will be treated as a Transfer of Going Concern (TOGC).
The property comprises a prominent corner Grade II listed building. It is arranged as a double fronted shop to the ground floor with basement stores. A separate entrance from Pelham Square provides access to self-contained office accommodation arranged from lower ground to 3rd floors. The basement provides accommodation for plant rooms, a kitchen and communal space which is not demised and is to the benefit of the tenants. A single passenger lift serves all floors of the offices.
C69 (exp. 06/31)
We are instructed to seek offers in excess of £1,700,000 (One Million Seven Hundred Thousand), subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 6% and a low capital value of £324 psf.
The tenants have a 100% rent payment history throughout the pandemic. ( Agency Pilot Software Ref: 3968 )