Substantial mixed investment in prominent location. Ground floor retail Let to Fish Tail Ltd trading as Cook with 4 flats over all producing £61,440 pa
A Victorian 6-storey part bay fronted mellow brick terrace property with commercial unit over ground floor and basement, and 4 flats above, which are accessed at the rear of the building via Second Avenue. There are 3 x 1 bedroom and 1 studio flat which are all let on Assured Shorthold Agreements and currently produce £34,440 per annum. The ground floor retail unit is let at £27,000 pa for a 10 year lease from 29th July 2011.
The building forms part of a terrace in this busy thoroughfare on the south side of Church Road, between Grand Avenue and Second Avenue. The area is populated by many well established independent traders including a wide ranging selection of restaurants, bars & coffee shops. Numerous buses serve the area & Hove railway station is within walking distance. The property lies within The Avenues Conservation area
Ground floor shop and basement 958sqft (89sqm) see floor plans.Let on effective FRI terms. Shop let on a 10 year lease from 29.07.11 Flat 1 - 644sqft (59.8sqm) Good size 1 Bedroom flat with large Living room with kitchen area: 18'1 x 17'4 (5.53m x 5.30m) Utility room on half landing. Let AST at £750pcm Flat 2 - 633sqft (58.8sqm) Good size 1 Bedroom flat with large Living room with kitchen area: 18'1 x 17'4 (5.53m x 5.30m) Utility room on half landing. Let AST at £750pcm Flat 3 - 531sqft (49.3sqm) 1 Bedroom flat with large Living room with kitchen Let AST at £795pcm Flat 4 - 452sqft (42sqm) Large studio room : 26'6 x 12'4 (8.08m x 3.76m) & recessed kitchen area: 9'10 x 6'6 (3.0m x 2.0m) Let on an AST at £525pcm
Administration Charge - Purchasers will be required to pay an Administration fee of 0.3% (0.25% plus VAT) of the sale price, subject to a minimum of £900 (£750 plus VAT)
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.