Powis Road

Brighton

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Sold STC

847 sq ft

£675,000

LOCATION
The subject property is situated in a delightful spot within the Montpelier & Clifton Conservation Area located to the North of Brighton City Centre. Whilst several shops & The Crescent Pub are immediate to the property, The 7 Dials is only a short walk away where a host of shops, coffee shops & other eateries are located which include The Hellenic Bakery, Small Batch Coffee, the Co-op & The Cow.

DESCRIPTION
The property comprises an attractive 5 Storey building arranged over ground floor, basement, 1st, 2nd & 3rd floors.
The ground floor & basement trade as Launderette whilst there is a 1 Bedroom Flat on the 1st floor & the 2nd & 3rd floors comprise a 4 bedroom maisonette let out as an HMO.


ACCOMMODATION
Shop
Ground floor 444 sq ft (41.25 sq m)
Basement 402 sq ft (37.35 sq m)
WC
1st Floor Flat -1 bedroom flat
2nd & 3rd Floor 4 bedroom flat

TERMS
The Ground Floor is let by way of an effective full repairing & insuring lease expiring June 2029 with a rent review June 2026 at a rent of £9,120 per annum exclusive, payable monthly in advance & trades as Launderette with the lease in the tenants name. The First Floor Flat is let by way of an AST on a periodic basis at an annual rent of £10,200 whilst a 4 bedroom HMO is arranged over 2nd & 3rd Floors is let by way of an AST for £26,250 per annum. The existing tenants are due to vacate on the 13th of August 2020 & new tenants have signed up to occupy on the 24th of August 2020 at the same rent. Total income £45,570 per annum.
Offers for the freehold interest are invited in the region of £675,000 with the benefit of the existing tenancies.

OUTGOINGS
Ground floor Shop £6,900 UBR 49.1p

LEGAL COSTS
Each Party to be responsible for their own legal costs in connection with the transaction.

VIEWING
Through vendors agents Eightfold Property 01273 672999 or email max@eightfold.agency