31 Ship Street, BN1

share

bookmark

Key Points

Summary

**AUCTION LOT** MIXED USE INVESTMENT IN CENTRAL BRIGHTON**ALLSOP AUCTION ON 11TH JUNE 2025**OFFERS INVITED IN EXCESS OF £380,000

Description

A mid terrace property comprising a retail unit over ground floor and basement with a 1-bedroom maisonette above. The property is fully tenanted with the commercial element having a new lease completed in March 2025. The ground floor retail unit is let by way of an internal & shop front repairing lease of 10 years ending 18th March 2035 to Brighton Creamer LLP at a rent of £24,000 per annum exclusive, subject to a tenant only break option on 17th March 2030 and a rent review on 18th March 2030. The landlord holds a rent deposit of £5,500. The residential element is subject to a regulated tenancy at a rent of £650 per calendar month. The combined annual rental income is £31,800 per annum.

Location

Situated on the western side of Ship Street on the edge of Brighton's famous Lanes, close to Duke Street, North Street & Union Street. Nearby occupiers include The Ivy & Ivy Asia, Pizza Pilgrims, Honest Burger & Fred Perry in addition to an array of other local and national eateries, retailers and pubs & bars.

Terms

The freehold interest is available to purchase in the Allsop Auction on the 11th June 2025 with a guide of £380,000+ which shows a net yield of 8.04% based on the income of £31,800 per annum. please see following link to auction brochure https://www.allsop.co.uk/lot-overview/city-centre-freehold-shop-and-residential-investment-in-brighton/c250611-066?searchid=TmoAc6fa2xsYURIgBecJPEg4VIj%2FaV7VyHbV8g1vHqo%3D&idx=0

Availability_text

The accommodation comprises the following areas:

AML

The normal ID & proof of address will be required from all parties in the transaction.