33 MIGHELL STREET & 72 CARLTON HILL
BRIGHTONBack to list
A substantial commercial investment comprising 3 office suites totalling 4,036sqft (374.96sqm) let at £87,500pa. There are 9 flats above, which are all sold off on long leases, which provide an additional income of £900pa. UPPER GROUND FLOOR SUITE 1 -Let to Rooms for Therapists Limited for a lease term expiring 4th June 2029 with a tenant only break clause on the 4th June 2024, subject to 6 months prior notice, paying a rent of £15,000pa exclusive. We understand a 3 month rent deposit is held. LOWER GROUND FLOOR EAST - Let to McLaren Construction (South) Limited for a lease term expiring 7th January 2023 with a tenant only break clause on the 8th December 2022, subject to 3 months notice, paying a rent of £24,500pa exclusive. The lease is excluded from sections 24-28 of the Landlord & Tenant Act 1954. LOWER GROUND FLOOR WEST- Let to Arke Agency Limited for a lease term expiring 16th May 2024 with a tenant only break clause on the 17th May 2022, subject to 6 months notice, at a rent of £48,000pa exclusive. Residential- There are 9 flats over part first, second and third floors which are all sold off on 125 year leases from circa 2019, producing a combined initial ground rent of £900 pa. FREEHOLD - The sale of the freehold will be by way of a transfer of 100% share capital in the holding company. This is the only asset the company holds. Further details will be in the legal pack.
The building is situated on the corner of Carlton Hill & Mighell Street adjacent to the new Amex building & Edward Street Quarter development that is taking shape, whilst the Circus Street Development is also nearby. The popular Queens park is a few minutes walk away as is Brighton City Centre & The seafront.