Duke Street

Brighton

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698 sq ft

£990,000

LOCATION
The subject properties are located on the Southern side of Duke Street, Brighton in the City Centre on the edge of Brighton's famous Lanes. Churchill Square Shopping Centre is a few hundred yards away whilst Brighton Mainline Station & Brighton Seafront are also a short walk away. Nearby occupiers in Duke Street include Offspring, Montezuma's Chocolate, Nandos, Nationwide & Honest Burger along with a number of impressive independent occupiers.

DESCRIPTION
Two adjoining properties arranged over ground floor & 1st floor currently let to their respective occupiers:
9 Duke Street is let to Pine Island Limited t/a The Croque Shop by way of a 15 year lease from 1st June 2009 at a rent of £30,000 per annum exclusive. 2 personal Guarantees have been provided & a 3 month rent deposit is held by the landlords.
10 Duke Street is let to Mr & Mrs Barlow t/a Ben's Cookies by way of a 15 year lease from 17 November 2006 at a rent of £29,000 per annum exclusive

ACCOMMODATION
9 Duke Street:
IMPERIAL METRIC
Ground floor 173 sq ft 16.1 sq m
1st floor 155 sq ft 14.4 sq m

10 Duke Street
IMPERIAL METRIC
Ground floor 186 sq ft 17.31 sq m
1st floor 193 sq ft 17.11 sq m

TERMS
Offers are invited for the freehold interests subject to the existing tenancies in the order of £495,000 for each property which reflects a net yield of 5.79% for 9 Duke Street & 5.6% in respect of 10 Duke Street respectively after purchasers costs.

OUTGOINGS
9 Duke Street Rateable value £21,000 UBR 49.01 (April 2019/ 2020)
10 Duke Street Rateable value £22,500 UBR 49.01 (April 2019/ 2020)

VAT
It is our understanding that the properties are not currently elected for VAT.

LEGAL COSTS
Each side to be responsible for their own legal costs.

VIEWING
Strictly by prior appointment through the landlords agent Eightfold Property 01273 672999 or email max@eightfold.agency