3 Victoria Terrace Hove

Description

Comprising a retail unit that has recently been let & refurbished as a beauty salon arranged over ground floor & basement. The freehold of the property is available which is stand alone from the building situated behind. A freehold retail investment comprising Ground and Lower Ground floors with the benefit of a new lease from (offering an initial yield of more than 7%), with a review on the 5th anniversary.

Location

Located on Victoria Terrace, Hove on the southern side of the main seafront road. Nearby occupiers include Sugardough, and The Co-Op, with central Hove just a short walk to the north where operators such as Gails Bakery & Pizza Express are situated.

Terms

The freehold interest is available to purchase for the sum of £185,000 with the benefit of the existing lease to Huyen Thi Thu Chu 29th November 2024 for a term of 10 years with provision for a 5 year rent review & a tenant only break on the 5th anniversary subject to 6 months written notice at a passing rent of £13,500pax. A Purchase at the suggested level would show a net yield of 7.14%.

AML

The normal ID & proof of address will be required from all parties in the transaction.