High Street

Under Offer

1312 sq ft

£250,000

LOCATION
The subject property is located in convenient position opposite Lewes Castle in the High Street & only a few moments walk away from Lewes Train Station. Nearby occupiers include Cote Brasserie, Cafe Nero, Nationwide, Fat Face, ASK & Cubitt & West.

Lewes is a market town located approximately 9 miles to the North East of Brighton City Centre Whilst Eastbourne is approximately 17 Miles to the South East.

DESCRIPTION
An elegant Grade II Listed building of which the upper parts have been converted to residential dwellings & sold off by way of Long leasehold interests, whilst the ground floor comprises an A2 premises recently let to Human Nature (Places) Ltd.

ACCOMMODATION
Ground Floor - 450 SQ FT (41.78 SQ M)
Upper Ground Floor - 232 SQ FT (21.55 SQ M)
Lower Ground Floor - 131 SQ FT (12.17 SQ M)
Basement - 500 SQ FT - (46.45 SQ M)
Total -1313 SQ FT (121 SQ M)

TERMS
Offers are invited in excess of £250,000 for the freehold interest. The Ground floor & basement have recently been let to Human Nature (places) Ltd (06127428) for a term of 5 years from June 2020 with provision for a tenant only break on the 2nd anniversary at a rent £17,500 PAX whilst the upper floors comprise 2 flats sold off on long leases which pay an annual ground rent of £250 each giving a total income of £18,000 per annum. A purchase at this level would show a net yield after purchasers costs of 7.02%.

OUTGOINGS
Rateable Value £16,000
UBR APR 2019/2020 49.9p

VAT
We understand the property is not elected for VAT

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

VIEWING
Through Vendors agents Eightfold Property 01273 672999 or email Max Pollock at max@eightfold.agency .