Freehold commercial investment producing £9,050pa.
A 5 storey end of terrace building comprising 4 flats which are all sold off on long leases, and a ground floor shop with large basement. The shop is currently let by way of an effective fully repairing and insuring lease for a term of 10 years from September 2017, at a passing rent of £8,750 per annum. There is a tenant break at the 5th anniversary. The four flats are sold off on 999 year leases and produce a ground rent income of £300 per annum. EPC rating: F NB: 6 week completion due to Christmas holidays or sooner if agreed by both parties
The property is situated in a popular area known locally, together with Grove Road, as Little Chelsea. The area is home to many independent and national retailers, with a mix of shops, cafes, restaurants and bars. Eastbourne railway station is 5 minute walk away.
Private Treaty - Right Table
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 £660 (£550 plus VAT)
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.