George Street, Hastings, East Sussex, TN34

A mixed-use investment freehold property consisting of three commercial units and two residential flats. The flats and the retail unit are sold off on long leases and there are tenants in the ground floor restaurant and first floor events venue producing a total rental income of £55,000. The property is Grade II Listed.

Location
The property is situated in the highly desirable 'Old Town' conservation area of Hastings. It is supported by a wide variety of other shops and businesses including hair salons, restaurants, bars, cafes, jewellers, ladies' fashion, etc. It is located in a popular pedestrianised area with a delightful 'bohemian' atmosphere just back from the main Hastings seafront.

Tenancies
Ground Floor Restaurant - currently occupied on a FRI commercial lease for a term of 6 years from February 2023 (no breaks) at a current rent £35,000 and reviewed every 3 years.

First Floor Events Venue - currently occupied on a FRI commercial lease for a term of 6 years from February 2023 (no breaks) at a current rent £20,000 and reviewed every 3 years.


Ground Floor Retail Unit (11) - sold on a 99-year lease from 1985 with a ground rent of £35 per year.

Flat 11a - Sold on a 189-year lease from 1993. Annual ground rent of £50.

Flat 11b - Sold on a 125-year lease from 1993. Annual ground rent of £50.

Tenure: Freehold