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For SalePOA
MIXED-USE DEVELOPMENT / INVESTMENT FOR SALE
STRATFORD, LONDON E15

Existing commercial premises benefitting from permitted development rights to convert to residential whilst offering further potential to add value.
For Sale£365,000.00
OR
For Rent£25,750.00 Per Annum
o Two New Retail / Financial Units
o Town Centre Location
o Extensive Glazed Facades
o New Lease Available
o Available from Q2 2019 / Q3 2019

No1 - 431 sq ft - Leasehold £13,000 pax - Virtual Freehold £185,000

No2 - 399 sq ft - Leasehold £12,750 pax - Virtual Freehold £180,000

Combined - 830 sq ft - Leasehold £25,750 pax - Virtual Freehold £365,000
For Sale£5,250,000.00
Prime Freehold Retail / Residential Investment - Prime retail investment let to Vodafone Limited for 8.5 years and four newly completed apartments in Bath City Centre
For Sale£1,295,000.00
PROMINENT CORNER BUILDING

GROUND FLOOR LET TO OXFAM ON A NEW 10 YEAR LEASE @ £53,000 PA

UPPER FLOORS PP GRANTED - VACANT AND STRIPPED OUT

2 No 1 BED FLATS (538 sq ft ; 549 sq ft)
1 No 2 BED FLAT (753 sq ft)

SEPARATION WORKS COMPLETED INCL BRAND NEW AIRCO SYSTEM

READY FOR IMMEDIATE DEVELOPMENT

NO Section106

OFFERS IN EXCESS OF £1,295,000
For Sale£600,000.00
GREAT MISSENDEN, BUCKS HP16 0AL

Situated in the historic High Street of this busy village, close to the Roald Dahl Museum, and a two minute walk to a Main Line station to London Marylebone. Rare opportunity to purchase a freehold shop with flat above with full vacant possession. Ideal as an investment property or for own occupation.

Property comprises a double fronted shop with planning consent for A1/A3 use with self-contained, recently renovated two bedroom flat above. Parking.

Offers invited in excess of £600,000 for the freehold.
For Sale£450,000.00
New
Long Leasehold Investment For Sale - Subject to subsisting lease • Shop A1 Use: 450 sq. ft. and Basement: 440 sq. ft. • Lease (T/A Alicia Hair & Beauty) FRI for a term of 10 years from May 2018 subject to a rent review at the 5th year • Passing rent: £28,500 p.a.x. • BUSINESS NOT AFFECTED • Price £450,000 subject to contract only. Sole Agent
Long Leasehold Investment - For Sale - Subsisting lease - Income: £28,500 p.a.x.
Type: General Retail, Retail - High Street, Retail
Location: 266 King Street, W6 0SP
Size: 890 Sq Ft
Images: 6
Brochures: 1
View Property
For Sale£1,250,000.00
New
An opportunity to purchase an attractive mixed residential and commercial investment in a busy location in Maldon High Street, providing an income of approx. £64,000 per annum.
Double fronted three storey building comprising of two ground floor retail units and four residential apartments on the upper floors. There is an attractive building to the rear, including three garages and one further apartment on the first floor. The rear building has vehicular access and approached via the side of the property and provides a parking space.
For Sale - Mixed Residential & Commercial Investment Producing Approx. £64,000 Per Annum
Type: Residential, Retail
Location: 132-134 High Street, CM9 5BX
Images: 3
View Property
For Sale£500,000.00
OR
For Rent£20,000.00 Per Annum
New
The property comprises a mid-terrace two storey mixed use building beneath a pitched roof with rear yard areas.

The ground floor is currently arranged to provide open plan sales/office area with rear kitchen and WC facility.

The upper parts provide a two bedroom flat with access via an internal shared lobby area towards the rear of the ground floor.

Externally the rear yard offers 4/5 car spaces in a tandem pattern.
20-20a High Street, Chislehurst BR7 5AB
Type: Mixed use, Office, General Retail, Retail - High Street, Retail - Out of Town, Other Property Types & Opportunities, Offices, Retail
Location: 20 High Street, BR7 5AN
Images: 4
Brochures: 1
View Property
For Sale£1,500,000.00
New
Conveniently located close to the centre of the highly sought after area of Earlsdon, Coventry, with easy access to the City Centre and Railway Station. The flats are let on Assured Shorthold Tenancies and are all let. The retail unit is let until at least 2021. There is certainly potential for future rental growth to increase the current gross yield which is 5.21% and current gross rental income £78,160pa. Sold subject to the existing tenancies.
Freehold residential investment block in Coventry - 11 residential units and 1 retail unit
Type: Flat, Retail - Out of Town, Mixed Use, Retail, Residential, Other Property Types & Opportunities
Location: 155 - 161b Albany Road, Coventry, CV5 6ND
Images: 17
View Property
For Sale£225,000.00
New
RETAIL INVESTMENT in prominent HIGH STREET location with on street parking nearby. Good covenant tenant paying £20,000 pa.
19 High Street, Midsomer Norton, Radstock, BA3 2DR
Type: Retail, Retail - High Street
Location: 19 High Street, Radstock, BA3 2DR
Size: 2175 Sq Ft
Images: 2
Brochures: 1
View Property
For SalePOA
FREEHOLD RETAIL INVESTMENT WITH RESIDENTIAL GROUND RENT FOR SALE

Investment Summary

• Located in the highly affluent London Borough of Richmond upon Thames.
• Lower ground and ground floor cocktail bar close to Richmond Riverside.
• Fully let to Be At One Richmond Limited for nearly 15 years.
• Total income of £43,350 per annum.
• Freehold.
• Offers sought in excess of £750,000 (Seven Hundred and Fifty Thousand Pounds), subject to contract and exclusive of VAT.

Location

Richmond is one of the most desirable locations in London to live, work and shop. This highly affluent London Borough is located approximately 8 miles to the east of Central London.

Transport links are excellent, Richmond station provides London Underground (District Line), Overground, and National Rail services (fastest journey time to London Waterloo – 19 mins). Both the M3 and M4 motorways are easily accessible and Heathrow Airport is only 12 miles to the west.

Richmond is an established commercial centre, with a host of national and international retailers, numerous bars and restaurants as well as an excellent leisure offering.

Situation

The property is situated on the south west side of Petersham Road close to its junction with
Bridge Street and Hill Street, being a secondary retail pitch within Richmond town centre. This
part of Petersham Road is part of an established restaurant area for Richmond. The property is
within a conservation area CA5.

Description

The subject property is of brick construction and is probably Victorian in origin and arranged
over lower ground, ground and three upper floors to provide a bar on the ground floor, kitchen,
storage with WC, s on the lower ground floor and three residential flats above. The upper
floors have been converted into three flats and sold on long leases.


Accommodation

The property provides the following approximate floor areas;

Lower Ground Ancillary 590 sq ft 54.81 sq m
Ground Sales 562 sq ft 52.2 sq m
Total 1,152 sq ft 107.01 sq m

Tenancy

The ground floor and basement are let to Be At One (Richmond) Limited who hold an effective
full repairing and insuring 15-year lease from 1st August 2018. The tenancy is protected by The
Landlord and Tenant Act 1954.

The three upper floor flats have been sold on 125-year leases from July 2012 at a ground rent
of £450 per flat per annum. We have not been advised of any increase in the rental during the
duration of the lease.

Tenure

Freehold.

VAT

The property is elected for VAT.

Proposal

We are instructed to seek offers in excess of £750,000 (Seven Hundred and Fifty Thousand Pounds), subject to contract and exclusive of VAT.

Legal Costs:

Each party to bear their own legal costs.

For further information please contact:

Michael Rogers LLP – 020 8332 7788
Niall Christian niall.christian@michaelrogers.co.uk

7A Petersham Road Richmond TW10 6UH
Type: Retail
Location: 7a Petersham Road, TW10 6UH
Size: 1152 Sq Ft
Images: 1
View Property
For Sale£499,995.00
Of interest to owner occupiers, developers & investors
A prominent 'character' property located in the heart of Edenbridge confirming planning consent has been granted for conversion of the upper floors to residential. Two connecting retail units at ground floor level with entrances both on the High Street and Church Street. The first and second floors are arranged as showrooms.
71-73 High Street, Edenbridge
Type: Residential, Retail
Location: 71-73 High Street, Edenbridge, TN8 5AL
Size: 3433 Sq Ft
Images: 1
Brochures: 1
View Property
For SalePOA
Investment Summary
• Located in the highly affluent London Borough of Richmond upon Thames
• Prime retail unit on Hill Street opposite Richmond Riverside development
• Fully let to Sushi Shop London Ltd (on assignment from Joseph Limited) for a further 5.4 years
• Total income of £104,000 per annum
• Freehold • Asset management / development potential to split off the residential upper parts and redevelop the rear garage, subject to planning

Location
Richmond is one of the most desirable locations in London to live, work and shop. This highly affluent London Borough is located approximately 8 miles to the east of Central London.

Transport links are excellent, Richmond station provides London Underground (District Line), Overground, and National Rail services (fastest journey time to London Waterloo – 19 mins). Both the M3 and M4 motorways are easily accessible and Heathrow Airport is only 12 miles to the west.

Richmond is an established commercial centre, with a host of national and international retailers, numerous bars and restaurants as well as an excellent leisure offering.

Situation
28 Hill Street is prominently situated on Hill Street, in Richmond Town Centre, in a prime retailing position opposite the landmark Richmond Riverside development. The property forms part of a terrace of buildings that includes Cote, Byron, Antipodea, Space NK and Zadig & Voltaire.

Description
The property comprises a three-story building fronting Hill Street with garage and rear access from Castle Mews, via Castle Yard. 28 Hill Street comprises a prominent ground floor retail unit with basement storage. Above the retail unit is a large two-bedroom flat split over first and second floor, with its own access via the rear of the property. To the rear there is a large garage / store accessed from Castle Mews.

Accommodation
The property provides the following approximate floor areas;

Basement Ancillary 740
Ground Sales 1,135
Total Retail 1,875
First Residential 607 (GIA)
Second Residential 616 (GIA)
Total Residential 1,223 (GIA)
Garage / Store 340 (GIA)
Total Floor Area 3,438

Tenancy
The property is let to Joseph Limited on Full, Repairing and Insuring terms on a 15-year lease from 25th March 2009, to expire 24th March 2024, at a rent of £104,000 per annum exclusive. The lease
incorporates 5 yearly rent reviews and is contracted inside the Security of Tenure provisions of the Landlord and Tenant Act 1954.

Joseph Limited have assigned the lease to Sushi Shop London Ltd. We understand the upper floor residential accommodation has been let on an assured shorthold tenancy at a rent of £27,600 per annum.

Tenure

Freehold.

Asset Management / Development Potential

The current occupational lease includes the residential upper parts however we understand there is potential to re-gear the lease allowing the Landlord to take back the residential upper parts and rear garage / store. The rear garage / store has potential to be redeveloped into a Mews house, subject to planning. Residential capital values in the area are in the region of £800 - £1,200 per sq ft. Further information is available upon request.

VAT

The property is elected for VAT

Proposal

We are instructed to seek offers subject to contract and exclusive of VAT.

Legal Costs:

Each party to bear their own legal costs.

28 Hill Street Richmond TW9 1TW
Type: Residential, Retail
Location: 28a Hill Street, TW9 1TW
Size: 3438 Sq Ft
Images: 3
View Property
For Sale£100,000.00
• First Floor Hairdresser Salon with Ground Floor Workstation
• Hairdresser Business Available by Separate Negotiation
• Additional Ground Floor Retail Unit Providing Rental Income
• Town Centre Location
• Two Parking Spaces
• Possible Conversion Opportunity
• Qualifies for 100% Rates Relief
6 Brooke Street, Dumfries
Type: Retail, Flat, General Retail, Other, Residential, Other Property Types & Opportunities
Location: 6 Brooke Street, Dumfries, DG1 2JL
Size: 1660 Sq Ft
Images: 15
Brochures: 1
View Property
For Sale£290,000.00
LOCATION & DESCRIPTION

Hedge End is an affluent and busy town to the east of Southampton and within the borough of Eastleigh. It is home to many retail multiples such as Co Op, Costa Coffee, Post Office, and Corals, and this property’s immediate neighbours include Barclays, Natwest, Thomas Cook, Greggs, and Co Op Funeral Services. Nearby is the retail warehousing for which the area is renowned, with occupiers such as M & S, Sainsbury, DFS, B & Q, Currys PC World, Smyths Toys, TK Maxx, etc.

There are plans for extensive new housing development in the area with many new homes either under construction or proposed.

The property itself comprises a two storey retail unit with an A5 takeaway use trading as Wok Hard Chinese Takeaway who have established an excellent reputation since they opened in 2018. The first floor is an ancillary area approached from the shop, but with a separate rear fire escape, which the current tenants use as staff living accommodation, with the landlords consent. Such A5 consents have to date been notoriously difficult to obtain in Hedge End Centre.

ACCOMMODATION

Ground floor A5 takeaway

Internal width 14’ 1” Built depth 41’ 6”

Net Sales 553 sq ft Rear Access Five parking spaces

First floor 240 sq ft TENANT
The whole is let to DTS Enterprise Ltd with two personal guarantors. They have a 20 year full repairing and insuring lease from 26 January 2018 with 5 year upward only rent reviews and no break clauses. The current rent is £18000 pa exclusive of rates

PRICE

The freehold investment is for sale, subject to the subsisting lease, at a price of £290,000. There is no VAT applicable.

EPC: D – 95

RATES RV £11,000
FREEHOLD INVESTMENT OPPORTUNITY HEDGE END
Type: Retail, Office, Offices
Location: 1b Lower Northam Road, SO30 4FN
Size: 553 Sq Ft
Images: 2
Brochures: 1
View Property
Under OfferFor sale: £49,500.00
• 773 sq ft (71.87 sq m)
• Freehold investment property
• Rental income £5,080 per annum, exclusive
• Term: 6 years from January 2019
• Tenant: The Salvation Army
• Fronting busy road opposite Tesco Express and Heron Foods
• Asking Price: £49,500
. _ ◦ Net initial yield: 10.08% with purchaser's cost at 1.8%
65 Front Street, Sacriston, County Durham DH7 6JW
Type: General Retail, Retail - High Street, Retail - Out of Town, Retail
Location: 65 Front Street, DH7 6JW
Size: 773 Sq Ft
Images: 5
Brochures: 1
View Property
For Sale£5,400,000.00
The sale of this investment offers the opportunity to acquire an investment as a company purchase which offers significant tax advantages for purchasers further details are available from the selling agents. The company has been within a single family ownership for approximately 60 years. The owners have maintained near full occupancy by ensuring the property is well maintained and offering the smaller accommodation within the Pershore Market on 'easy in easy out' licences at competitive rental levels.
The investment opportunity provides a balanced mix of income from commercial and residential uses. A significant number of the tenants are long standing occupiers. The gross income is summarised below. Full details are available on application from the selling agents, who can provide a full tenancy schedule by providing access to the Data Room.

The investment comprises of a significant town centre property holding totalling approximately 2.33 acres (0.942 ha), which is situated immediately adjoining Asda supermarket, the town's only supermarket and in turn providing the central focal point alongside the subject market for the town.

The Pershore Retail Market itself comprises, a long-standing and popular retail market, which consists of a recently refurbished detached building, which internally is fitted out with a series of permanent independent market stalls.

There is surrounding this building a number of single storey and two storey buildings offering a range of office, storage, retails and residential units. The property benefits from 104 customer car spaces within the site.

Fronting the High Street is a row of traditional retail units with predominantly self­ contained residential accommodation above.

The property also includes a single storey car workshop and separate car wash bay.

The full extensive nature of the investment opportunity can only be appreciated via undertaking an inspection of the property.
Pershore Market Property Portfolio, Pershore, Worcestershire, WR10 1EY
Type: Residential, Retail, Office, General Retail, Mixed Use, Offices, Other Property Types & Opportunities
Location: Pershore Market Portfolio, Pershore Market, Pershore, WR10 1EY
Size: 2 - 3 Acres
Images: 10
View Property
For SalePOA
Mixed residential and retail investment for sale. The majority occupied by Boots UK Ltd.
31-33 Replingham Road, Southfields, SW18 5LT
Type: Residential, Retail
Location: 31-33 Replingham Road, SW18 5LT
Size: 374.3 Sq M
Images: 1
Brochures: 1
View Property
For Sale£105,000.00
Location
The property is situated fronting Ripon Street close to its’ junction with Plungington Road, just over 1 mile to the north of Preston City Centre.
Nearby occupiers include Whalley & Sons Funeral Directors, Pride Hair Design as well as a range of both national and independent traders and service providers located fronting Plungington Road.
The locality is predominantly residential in nature with the University of Central Lancashire campus in close proximity.

Description
The property comprises a two-storey, mid terraced building of conventional brickwork construction, being rendered in part, beneath a pitched roof covering. The premises have the benefit of uPVC double glazed windows and shop front.
The ground floor is presently occupied and trading as Jit’s Plaice and, internally, provides a good sized sales area to the front leading through to rear preparation and storage facilities to the rear.
The residential flat consists of a ground floor kitchen, stairs/landing area, lounge, two bedrooms and bathroom with self-contained access leading from the enclosed yard to the rear of the building.

Accommodation
The premises extend to the following approximate internal areas:-
m² ft²
Ground Floor (NIA) 33.49 360.5
First Floor (GIA) 43.45 467.7

Services
We understand that the ground floor property is connected to mains electricity, gas, water and drainage facilities with the first floor having electricity, water and drainage supplies.

Rating Assessment
The ground floor premises have a Rateable Value of £2,850. The first floor flat benefits from a council tax assessment within band “A”.
Interested parties are advised to make their own enquiries with Preston City Council (tel. 01772 906972).

Planning
We believe that the premises benefit from an established use classification on the ground floor within Class A5 (Hot food takeaway) of the Use Classes Order 1987 (as amended).
Interested parties should make their own enquiries with the local planning authority, Preston City Council (tel. 01772 906912).

Tenure
Freehold, subject to the existing occupational interests.

Tenancy Information
The ground floor premises are let by way of a 10 year lease from the 26 April 2013 to Mr J K Panchal and Mrs S Panchal at an annual rental of £5,200 exclusive. The lease provides for rent reviews every 3 years.
The lease is granted on internal repairing and insuring terms with the tenant’s liability extending to doors, windows and shop front. The first floor flat is let by way of an Assured Shorthold Tenancy Agreement at a monthly rental of £350.

Asking Price
Our client is seeking offers in the region of £105,000.
For Sale - Mixed Use Investment - 88 Ripon Street, Preston
Type: Residential, Flat, General Retail, Retail
Location: 88 Ripon Street, PR1 7UJ
Size: 828 Sq Ft
Images: 1
Brochures: 1
View Property
For Sale£825,000.00
New
FOR SALE

FULLY LET

COMMERCIAL AND RESIDENTIAL
REVERSIONARY INVESTMENT OPPORTUNITY

• City Centre Location
• Commercial Unit and Residential Upper Parts
• Producing £43,640 per annum
• Guide price £825,000
(Commercial parts subject to VAT)

• ENQUIRIES AND VIEWINGS ARE STRICTLY THROUGH THE AGENTS

DESCRIPTION

The subject premises comprises 2 ground and lower ground commercial units together with 3 studio apartments above with separate access.

87 London Road

Café/Retail premises (A1 use) let by way of a lease. (Excluded from sections 24-28 of the Landlord and Tenant Act 1954) for an 8 year term commencing on 9th July 2014 subject to a tenant’s option to determine on 8th April 2016 and 8th April 2018 (on 6 month’s minimum notice).

The passing rent is £7,000 p.a. exc.

89 London Road

Hair salon (A1 use) let by way of a lease.
(Excluded from sections 24-28 of the Landlord and Tenant Act 1954) for a 10 year term commencing 18th May 2018 subject to a tenant’s option to determine on 17th May 2023 (on 6 months minimum notice).

The lease provides for a Landlord’s option to determine on 17th May 2025 (on 6 month’s minimum notice).

The passing rent is £13,000 p.a. exc. The lease is subject to a rent review at year 5.

89A/89B/89C London Road
The residential aspect comprises of three studios units let on assured shorthold tenancy agreements currently achieving:
89a - £650.00 p.c.m.
89b - £695.00 p.c.m
89c - £625.00 p.c.m.

VAT

The premises are registered for VAT and therefore VAT will apply.

LEGAL COSTS

Each party to be responsible for their own legal costs in connection with this matter.

BUSINESS RATES

According to the VOA website the rateable values stated are as below:

87 London Road:

Rateable Value £4,800

Rates Payable for 2018 - 2019 £2,295

89 London Road:

Rateable Value £8,200

Rates Payable for 2018 - 2019 £3,
PRIME COMMERCIAL / RESIDENTIAL INVESTMENT OPPORTUNITY FOR SALE
Type: Residential, Retail
Location: 87 - 89 London Road, St. Albans, AL1 1LN
Images: 1
View Property
For Sale£1,000,000.00
The property is located in the cathedral town of Guildford with a population of 65,000. Guildford is the County town of Surrey and a major commercial centre located on the A3 dual carriageway, 30 miles south-west of Central London. The town benefits from excellent communications with the A3, providing a direct link to the M25 London Orbital to the north and to the south coast. The property occupies an established trading location on the south side of North Street and close to the junction with Market Street. Nearby retailers include Sanrizz, Sevenoaks Hi-Fi, Maison Blanc, Laura Ashley and The Royal Bank of Scotland.

Wallis House comprises a four-storey building built in 1986 and comprises three upper floors of residential apartments and a ground floor retail unit let to bookmakers Done Brothers Limited. The ground floor shop has an Energy Performance Certificate rating of C55.

Please see PDF brochure for Tenancy & Covenant Information and contact details
MIXED RETAIL & RESIDENTIAL INVESTMENT - GUILDFORD TOWN CENTRE
Type: Residential, Retail
Location: 76 North Street, Guildford, GU1 4AW
Images: 1
Brochures: 1
View Property
For Sale£1,500,000.00
ADDRESS: 37 High Street, Redcar, Cleveland, TS10 3BZ
• Let to Marks & Spencer-until March 2025
(no breaks)
• Rent Review 2019 • Town centre trading position within pedestrianised zone
• 16295 Sq. ft on ground and first floors
LOCATION
Redcar, with an estimated district population of 148,000, is a busy coastal town, some 10 miles north east of Middlesbrough,
30 miles East of Darlington and 19 miles south east of Hartlepool. Road communications are good, with easy access to the A19 at Middlesbrough, via the A174. Rail links to London Kings Cross. Teesside international airport is 20 miles away
SITUATION
The property is situated within the central pedestrianized zone on the north side of the High Street opposite Regents Walk Shopping Scheme. Occupiers close by include Boots (adjacent), Greggs, KFC, H Samuel Jewelers, W H Smith, Sports Direct and many other national retailers
DESCRIPTION
The property is arranged on ground and first floors to provide a large retail unit on the ground floor with ancillary accommodation above. The store has the benefit of a rear frontage to The Esplanade overlooking the seafront.
ACCOMMODATION
The property provides the following accommodation and dimensions:
Gross Frontage (44' 7") Net Frontage (41' 8") Shop & Built Depth (max) (236' 4")
Ground Floor Sales 8,845 sq. ft, First Floor 7450 sq. ft Total Sq. ft 16295 sq. ft
The Esplanade - Gross Frontage (42' 10")
TENANCY
The entire property is at present let to MARKS & SPENCER PLC for a term of 16 years from 25th March 2009 at a current rent of £145,000 per annum, exclusive of rates. The lease provides for rent reviews on the fifth and tenth anniversaries of the term and contains full repairing and insuring covenants. The tenant is not presently in occupation.
TENURE: Freehold VAT: Applicable
PRICE: Offers in excess of £1500,000 – 9 % Net
Freehold Retail Investment Let to Marks & Spencers Plc – Redcar Tenant No Longer in Occupation
Type: Retail
Location: 37 High Street, TS10 3BZ
Images: 5
Brochures: 1
View Property
For Sale£500,000.00
Summary
Freehold retail / residential investment / development opportunity

Prominent position on St James Street

Available with vacant possession

Planning permission granted for flats on upper floors

£500,000, subject to contract

Location
Brighton is located on the Sussex coastline approximately 56 miles (90 km) South of London, 22 miles (35 km) West of Eastbourne and 34 miles (53 km) East of Chichester. The city boasts a resident population of 288,200 people and a large proportion of them ages between the 20-44 age brackets.

Brighton benefits from excellent road communications with the A23 providing a direct link to Junction 11 of the M23 Motorway approximately 18 miles (29 km) to the North. In addition, the M25 Motorway is a further 12 miles (19 km) to the North. The city benefits from good connectivity to the National Railway network with the fastest journey time to London Victoria and London Bridge of approximately 51 minutes. Furthermore, Gatwick International Airport is only 18 miles (29 km) to the north which can be reached through the majority of the trains passing through Brighton.

Situation
The property holds a prominent position just north of the iconic Brighton Pier and is a short walk away from the main retail district of Brighton, The Lanes, whilst also being approximately 0.4 miles (0.7 km) from Churchill Square Shopping Centre. Churchill Square Shopping Centre has up to 85 retail units when fully let, in addition to several sites for ‘open-air’ style stalls in the corridors. The shopping centre retains tenants such as Topshop/Topman, Debenhams, Clarks, Zara and W.H. Smith. Nearby occupiers to 23 St James Street include Superdrug, Co-op, Morrisons and Starbucks.

The property is located on the northern side of St James Street which is busy retail pitch with nearby retailers such as Morrisons, Starbucks, Boots and Superdrug. St James Street is one of the main arterial roads leading to the Hospital and Kemp Town area of the city.

The property is 0.9 miles (0.56 km) from Brighton Train Station and 0.1 miles (0.06 km) from Pavilion Parade, which is the main road providing access to the A27 and A23.

Description
The property comprises a 4-storey mid-terraced mixed-use building currently arranged over basement, ground, and three upper floors.

The premises is currently vacant. The upper floors currently office accommodation although planning permission has been obtained to convert to residential accommodation.

Accommodation
See website

Planning
Planning permission was obtained in December 2018 for change of use to retail (A1) at basement and ground floors, with two 2-bedroom flats on the upper floors. The permission and plans are available to download.

Tenure
Freehold.

Tenancy
The property is offered for sale with vacant possession.

Market Commentary
The property is located in a busy retail pitch and an area which usually generates good demand, with a mix of national operators as well as independent cafes and shops. This is a reasonably robust area and we would anticipate the retail unit achieving a rent for circa £20,000 per annum (approx. £34 Zone A).

Brighton is a strong and popular residential location with an acute shortage of housing. The City Plan Part One (adopted March 2016) sets a target of 13,200 new residential units to 2030.

We suggest that the property has the potential to generate an income of £51,000 per annum, based upon £20,000 per annum for the retail area and £31,000 per annum from the residential accommodation.

We suggest that the newly created residential flats will have a value in the order of £550,000, thereby providing significant development potential.

VAT
The property has not been VAT elected, therefore the purchase will not be subject to VAT.

Proposal
We are instructed to seek offers in the region of £500,000 (Five Hundred Thousand Pounds), subject to contract, for the freehold interest.

Allocating an investment yield of 6% to the retail accommodation equates to a value of only £325,000 in relation to the upper parts. This equates to approx. £120 per sq ft based upon the gross internal area compared to sale values anticipated in the region of £375 per sq ft.

Please note that a purchaser will be re-charged the costs of searches which are provided in the data room.

Please note that a purchaser will be charged a Transaction Fee of £2,500 + VAT.

Investment Considerations
An opportunity to acquire a town centre investment and residential development opportunity in Brighton

The property occupies a prominent position in St James Street, close to new residential schemes;

Attractive lot size

A purchase at the asking price reflects a low capital value in comparison to residential sale values
Town Centre Investment / Redevelopment Opportunity
Type: Residential, Retail, Mixed use, Office, Other Property Types & Opportunities, Offices
Location: 23 St. James's Street, BN2 1RF
Size: 291.8 Sq M
Images: 25
Brochures: 1
View Property
For Sale£635,000.00
Summary
Let to Superdrug Stores plc

Undoubted covenant – Shareholders’ Funds in excess of £250M

Unit recently extended and refurbished by the tenant

Let on FRI lease until March 2025

Offers in excess of £635,000, subject to contract

Net initial yield of 7.59%

Location
The property is situated in the town of Stornoway which is the main town of the Western Isles and the capital of Lewis and Harris in Scotland. The town's population is around 8,000, making it by far the largest town in the Hebrides, as well as the second largest island town in Scotland.

Stornoway is an important port and the major town and administrative centre of the Outer Hebrides. It is home to the Western Isles Council and a variety of educational, sporting and media establishments.

Caledonian MacBrayne-operate ferry services from Stornoway harbour to Ullapool on the Scottish mainland and there are an average of two return crossings a day with more in summer than in winter. Stornoway Airport is located 3km (2 miles) east of the town and there are flights to Aberdeen, Benbecula, Edinburgh, Inverness and Glasgow.

Stornoway is the hub of bus routes in Lewis and cruise ships visit the town and anchor in the bay.

Situation
The unit is situated within Stornoway town centre and occupies a prominent position on Francis Street. Retailing is located within Francis Street and Cromwell Street and nearby occupiers include Boots, Argos, M&Co and Bank of Scotland.

Description
The subjects comprise a 2 storey mid-terraced building of steel frame construction with a pitched roof over two bays. The front elevation has a modern aluminium framed glazed shopfront, with concrete panels above. There is loading door for deliveries to the eastern end of the frontage.

The entire building was re-roofed by the tenant in 2017.

Internally, the subjects comprise large open plan sales area on 2 levels. The unit has recently been refurbished internally by the tenant including extending the ground floor sales area and is fitted out to a modern corporate standard including air conditioning.

There are extensive storage and staff facilities at first floor level with goods lift and internal stairway for access.

Tenure
Heritable (Scottish equivalent of English freehold).

Tenancy
The entire building was originally let on a Full Repairing and Insuring lease to Superdrug Stores plc on a 15 year term, expiring on March 2020. The lease was varied and extended in 2016 and now expires on 20th March 2025. The current rent is £50,500pa equivalent to a Zone A rate of approximately £20.77 per sq ft. There is provision for a rent review in March 2020.

Covenant

30th December 2017 30th December 2016
Turnover £1,241,783,000 £1,213,600,000
Pre-Tax Profit £ 92,934,000 £ 80,385,000
Shareholder’s Funds £ 254,990,000 £ 225,898,000
Superdrug was founded in 1964 and is the United Kingdom's second-largest beauty and health retailer currently operating over 800 stores in England, Scotland, Wales, Northern Ireland and the Republic of Ireland. They currently have 200 in-store pharmacies and employ 14,000 people.

For further information visit www.superdrug.com.

VAT
The property has been elected for VAT and therefore VAT will be payable on the purchase price. It is anticipated that the transaction will be treated as a Transfer of a Going Concern (TOGC).

Proposal
We are instructed to seek offers in excess of £635,000 (Six hundred and thirty five thousand pounds), subject to contract, which reflects a net initial yield of 7.59%, after allowing for standard purchasers costs of 4.76%.

Investment Considerations
Fully refurbished property including new roof covering;

Let on Fully Repairing and Insuring basis;

Undoubted tenant covenant;

Secure income until 2025;

Tenant been in occupation since 2005.
Well-let Retail Investment
Type: Retail - High Street, Retail
Location: 4-8 Francis Street, HS1 2XD
Size: 2838 Sq Ft
Images: 27
Brochures: 1
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