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3 bedroom mixed use for sale

61 Preston Street, Brighton, BN1

Sold STC £375,000

Property Description

Full description

** SOLD BY AUCTION** Large freehold mixed-use investment comprising a retail unit at ground floor level with large self-contained maisonette above.

Large, freehold, mixed use investment comprising of 2 floor retail unit and 3 bed maisonette.

A freehold mixed use investment comprising a retail unit over ground and lower ground floors with a large 3 bedroom self-contained maisonette above. The shop is currently trading as an off-licence with 12 years remaining on the lease at a rent of £12,000 pa. There is a rent review scheduled towards the end of 2016. The flat has been let as an HMO paying £1,200pcm however notices to leave have been served and it is expected to be sold with vacant possession. The flat could be refurbished and re-let with an anticipated rent of £1,500 - £1,800pcm.


situation

Preston Street is a busy central thoroughfare which runs between Kings Road to the south and Western Road to the north. Churchill Square shopping centre is a short walk away as are popular attractions such as Brighton Pier and the Royal Pavilion. The new i360 is located on the seafront, close to the southern end of Preston Street, and has anticipated visitor numbers of 700,000 per year.

The street is home to mainly local pubs, bars and restaurants with national brands such as Café Nero and Sainsbury’s Local nearby on Western Road.


accommodation

Retail
A ground floor retail unit of approximately 430sqft with wc and hand wash basin to the rear. There is a small basement area which is accessed via a trap door at the rear of the shop.

Residential
The maisonette is accessed via its own front door from Castle Street with stairs leading to the first floor. The flat has most recently been let as 4 rooms with shared facilities although could easily be used as a large 3 bedroom flat.



Map & Street View

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*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.

Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”

Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Austin Gray, Auction House Sussex on 01273 20 19 80.


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