3 bedroom mixed use for sale61 Preston Street, Brighton, BN1
Sold STC £375,000
** 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.
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.
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.
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
Street View is unavailable in this location
Disclaimer - Property reference ah_sussex_1444888_18992. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Austin Gray, Auction House Sussex. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
*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.
Map data ©OpenStreetMap contributors.