27 Duke Street Brighton

Brighton

2017 sqft

Freehold £1,150,000
Desirable city centre location
Combining retail investment & holiday let

Description

An impressive 5 storey building that has recently been converted & refurbished to form retail unit at ground floor with a 7 bedroom holiday let arranged throughout the remainder of the building. The holiday let has been finished to a good standard with superb communal area at lower ground floor level with a small outside space and a mix of rooms throughout the building 5 of which have en-suite facilities.

Location

The property is situated on the northern side of Duke Street Brighton in a central position close to Brighton's famous Lanes, Churchill Square Shopping Centre & The Seafront.

Terms

Offers are invited in the region of £1,150,000 for the freehold interest. Our client holds the property in an SPV & as such would also consider a share sale of the company should this be preferable to potential purchasers.

Reversion

The ground floor commercial unit is currently let at £27,500 with a rental increase to £30,000 per annum exclusive. At £30,000 this equates to a zone a rate of £103 whilst recent letting have taken place at 10 Duke Street (£151) May 2023 & 13 Duke Street £46,500 (£137.37) October 2022 & as such we feel that the space is currently under rented.