Commercial Property for saleFort Road, Newhaven
Guide Price* £390,000
- SOLD PRIOR TO 17th NOVEMBER AUCTION
- Guide Price: £390,000-£400,000
- Commercial Leasehold Investment Comprising 3 x Retail Units Each with Parking Space
- All Fully Let Producing £34,950 Per Annum
- Situated in Modern Quayside Development within Newhaven Marina
Full description* SOLD PRIOR TO 17th NOVEMBER AUCTION*
The property comprises three retail units (units 3&4 adjoining) each with the benefit of a parking space to the front of the building. The property forms part of a modern purpose-built community shopping parade within a densely residential area affording good footfall. The units are fully let producing £34,950 per annum providing for an excellent commercial investment.
Newhaven is a small coastal town lying 10 miles east of Brighton and 15 miles west of Eastbourne. The property is situated just off Fort Road within Newhaven Marina’s modern quayside development. The property forms part of a local shopping parade within a densely residential area benefiting from good footfall.
Units 3-4: - Net internal floor area approximately 168 m2
2 x designated parking spaces (one with each unit)
Unit 5: - Net internal floor area approximately 82 m2
1 x designated parking spaces
Tenancy Schedule - ADDRESS: Units 3 & 4 & 2 designated parking spaces
TENANT: Mulberrys Convenience Store
TERM: 20 Years from 25th December 2008
RENT: £24,150 pa
DETAILS: FRI lease, rent review every 5th anniversary of term
ADDRESS: Unit 5 & designated parking space
TENANT: West Quay Caf
TERM: 5 years from 19th August 2016
RENT: £900 pcm
DETAILS: FRI lease
TOTAL ANNUAL INCOME: £34,950 Per Annum
Tenure: - Leasehold subject to existing tenancies
Outgoings (For Each Unit) -
Lease: - 125 years from 29th September 2006
Ground Rent: - £95 per annum doubling every 25 years of the term
Service Charge: - £1,000 rising each year by the proportionate increase in the Consumer Price Index or other appropriate Index determined by the landlord for further details please refer to the lease included in the legal pack
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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 Parsons Son & Basley, Brighton on 01273 326171.
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