Commercial Property for sale

London Road, Brighton

£2,700,000

Property Description

Full description

situation
The shops form part of a busy parade in one of the major thoroughfares of the City. Located on the east side of the road diagonally opposite the brand new Student Housing Company 351 room halls of residence, this area has seen dramatic improvement in the last few years. Other developments include the new open market, The Level Park and the refurbishment of numerous pubs, bars and shops in the vicinity.

description
The freeholds make up a square that runs from front to back and it is at the rear that planning has been approved for a 3-storey building.

planning
The planning application BH2014/01943 allows for a commercial unit of 80m on the ground floor and 4x1 and 3x2 bedroom flats over the upper two floors.
It is possible that an alternative scheme of purpose built student rooms might be a more viable option or an even larger scheme incorporating the buildings at the front.
Any alternative schemes would be subject to obtaining necessary planning consent.

rental income
It is assumed that the income from the new commercial unit in Elder Place will be similar to the figure currently being achieved and the projected income from the flats would be 82,800. This would therefore give a total projected income of 210,600 from the investment.

vat
Please note that VAT has been elected on the work area part of 28 Elder Place and VAT has been elected on the freehold interest of 57 London Road.

price
2,950,000 freehold

Nearest stations

  • London Road (Brighton) (0.3 mi)
  • Brighton (0.3 mi)
  • Preston Park (1.1 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Austin Gray, Investment and Development Department

37 Vernon Terrace, Brighton, BN1 3JH

01273 839362 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • London Road (Brighton) (0.3 mi)
  • Brighton (0.3 mi)
  • Preston Park (1.1 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Austin Gray, Investment and Development Department

37 Vernon Terrace, Brighton, BN1 3JH

01273 839362 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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