Property Type | Investment |
Tenure | For Sale |
Size | 949 sq ft |
Price | £475,000 |
Rates Payable | Upon Enquiry |
EPC Rating | This property has been graded as D |
The premises comprise a character but modern shop/office with rear office, stores, kitchen and cloakroom arranged as follows:
Shop
Overall 61.2 sq m (661 sq ft) fitted ceiling mounted air conditioning unit, wall heaters, feature beams, part laminate part carpet flooring, ceiling spot lights.
Office/store overall 8.4 sq m (93 sq ft).
Kitchen/rest room 11.2 sq m (119 sq ft) fitted with base and wall units plus stainless steel sink unit, door to outside.
Cloakroom fitted with low level wc and wash hand basin
Office/store overall 7.2 sq m (76 sq ft)
Total overall area 88.0 sq m (949 sq ft)
The premises are let to a specialist sewing business trading under the name of Sew inspired. They are let for a term of 6 years from November 2021, expiring November 2027 at a commencement rent of £12,00pa subject to rent review at 3rd anniversary. We are advised the review hasn’t been determined.
Flat
The upper part comprises a self-contained 3 bedroomed flat. They are let under the terms of an Assured Shorthold tenancy for a period of one year from 2008. We are advised the passing rent is currently £9,000pa.
It is considered both the residential and commercial rents are lower than the market rent providing scope to increase these at the appropriate rent review periods.
Offered for sale subject to the commercial and residential lettings.
Copies of the leases are available on request
The premises occupy a prominent High Street position in this historic Sussex village. They adjoin Mayfield and Five Ashes Parish Council offices and are opposite Mayfield dental. Other businesses in the immediate area include public house, Estate Agents, pharmacy as well as many specialists trades.