Freehold mixed-use investment with scope for improvement

A 4 storey freehold mixed-use investment comprising a shop over the basement and ground floors with a 2 bedroom maisonette over first and second floors. The shop is let at £6,250pa, with the tenant holding over on a lease expiring in 2011, with the tenant in the maisonette paying a rent of £860pcm (£10,320pa) on an AST. Total per annum £16,570. In our opinion both parts of the building are underlet with a market rent closer to £26,000pa. There is potential to develop the building further by extending at the back.

Lot Type

Mixed Use

Situation

The property is centrally situated close to Churchill Square shopping centre, 0.5 miles from Brighton railway station and 0.4 miles to Brighton seafront.

Accommodation

Shop Ground floor area approximately 237sqft (22sqm) Maisonette Living room: 5.03m max x 4.16m max Kitchen: 2.12m x 2.4m Bedroom 1: 3.65m x 3.29m Bedroom 2: 2.56m x 2.29m door to rear garden Shower room with WC: 1.3m x 1.9m Bathroom with WC: 2.75m x 3.55m

Additional Fees

Administration Charge - Purchasers will be required to pay an Administration fee of 0.5% (inc VAT) of the sale price, subject to a minimum of £1,500 (£1,250 plus VAT)

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.