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Property & Commercial Commercial Sale Retail Space

shop with maisonette for sale on long lease, Investment opportunity

  • shop with maisonette for sale on long lease, Investment opportunity
  • shop with maisonette for sale on long lease, Investment opportunity
Price : £95,000
Date : December 24, 2020
Property Type : Retail
Location : St Leonards-on-Sea

Accommodation Consists of
These premises comprise a character building in this historic town having
a self-contained lock up shop to the ground floor with basement plus a
3 bed maisonette above over 2 floors with a separate access to the side.
In more detail the premises are arranged as follows:
Shop divided into 2 sections overall 41.2 sq m (442 sq ft)
Doors to cloakroom and shower room (not inspected)
Kitchen overall 15.1 sq m (162 sq ft) fitted with stainless steel sink unit,
base units and worktop. Door to:
Store rooms at rear overall 67.3 sq m (726 sq ft) Steps down to:
Basement (not inspected)
The premises are let for a term of 5 years from June 2017 subject to
rent review in December 2018 which was settled at £8,400pa.
There is a maisonette above over 2 floors sold on long lease which was
extended in 1996, now expiring 2185. We are advised there is a ground
rent payable of £64.50pa with 2/3rd liability for building insurance.
On street limited time parking and loading immediately to the front
Offers sought in the region of £95,000 for the freehold subject to the long leasehold interest in the flat and commercial lease in the shop. Based on passing rent of both the flat and shop
this represents a return of 8.9% before purchasers’ costs.
We are advised the commercial tenant is not currently in occupation and is also in arrears of
rent. The landlord is seeking recovery of outstanding rent.
Rates (rateable value – shop)
N.B. Eligible businesses may be entitled to small business rate relief. Further information is available at the government website.
VAT may be charged on the rent or freehold price. Prospective tenants and purchasers are advised to make further enquiries to establish whether VAT is chargeable.
Reference to any services, appliance or otherwise in these particulars does not imply (i) they
are included in the rental or sale or (ii) they are in full and working order.
Silchester Road is accessed directly from the main A2102 London Road
which then links to the A259 South Coast Road on the fringe of the town
centre. Other businesses close by include J S Gedge Motorcycle dealer
as well as a news agent, Hastings Glass, launderette etc.

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