Powis Road

Brighton

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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 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.

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