Freehold Retail Investment For Sale
Summary
- Retail Investment
- Freehold
- Recently completed Lease
- Desirable Hove Seafront Location
- Ground Floor and Basement
- 7.14% Net Yield
Accommodation
The accommodation comprises the following areas:
| Name | sq ft | sq m |
| Ground | 339 | 31.49 |
| Lower Ground | 379 | 35.21 |
| Total | 718 | 66.70 |
Location
Located on Victoria Terrace, Hove on the southern side of the main seafront road. Nearby occupiers include Sugardough, and The Co-Op, with central Hove just a short walk to the north where operators such as Gails Bakery & Pizza Express are situated.
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Mainline Stations
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Hove14 mins
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Aldrington17 mins
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Portslade29 mins
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Brighton29 mins
Underground Station
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Caterham615 mins
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Tadworth625 mins
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Kingswood627 mins
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Whyteleafe South644 mins
Further Information
Price Offers in the region of £185,000
Rates Payable £3,443.10 per annum
EPC Rating This property has been graded as C (73)
Description
Comprising a retail unit that has recently been let & refurbished as a beauty salon arranged over ground floor & basement. The freehold of the property is available which is stand alone from the building situated behind. A freehold retail investment comprising Ground and Lower Ground floors with the benefit of a new lease from (offering an initial yield of more than 7%), with a review on the 5th anniversary.
Terms
The freehold interest is available to purchase for the sum of £185,000 with the benefit of the existing lease to Huyen Thi Thu Chu 29th November 2024 for a term of 10 years with provision for a 5 year rent review & a tenant only break on the 5th anniversary subject to 6 months written notice at a passing rent of £13,500pax. A Purchase at the suggested level would show a net yield of 7.14%.
AML
The normal ID & proof of address will be required from all parties in the transaction.
Gallery
