BrightonBack to list
847 sq ft
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.
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.
Ground floor 444 sq ft (41.25 sq m)
Basement 402 sq ft (37.35 sq m)
1st Floor Flat -1 bedroom flat
2nd & 3rd Floor 4 bedroom flat
The Ground floor is let by way of a 6 year lease from June 2017 with a rent review due June 2020 at a rent of £8,700 per annum exclusive payable monthly in advance & trades as Launderette. Terms have been agreed between the parties for a new 6 year lease at a rent of £9,120 per annum with provision for a 3 year review & it's anticipated this will complete shortly.
The first floor flat is let by way of an AST at an annual rent of £10,200
The 4 bedroom HMO arranged over 2nd & 3rd floors is let by way of an AST for £26,250 per annum
Total income £45,150 per annum. Anticipated total income after completion of new lease £45,570.
Offers for the freehold interest are invited in the region of £675,000 with the benefit of the existing tenancies.
Ground floor Shop £6,900 UBR 49.1p
Each Party to be responsible for their own legal costs in connection with the transaction.
Through vendors agents Eightfold Property 01273 672999 or email firstname.lastname@example.org