96-99 St Georges Road, Kemptown, BN2 1EE
- PROPERTY TYPE
Commercial Property
- SIZE
Ask agent
Description
**For Sale By Auction on Thursday 20 July 2023**
*Guide Price £700,000
Freehold Investment Including 3 Commercial Units, Producing £58,150pa
Description
The building comprises a terrace of period buildings. There are 3 self contained retail/office units to the ground floor (No 98 has a basement). There are 3 flats above 98 & 99 and a self contained house to the rear of the block. All residential elements are sold off on long leases.
Situation
The property is situated in the popular Kemp Town area of Brighton within East Cliff Conservation Area, & within the principle commercial unit area of St Georges Road.
The immediate vicinity is characterised by a mix of residential, retail and restaurants. The Royal Sussex County Hospital and Brighton College are located close by to the North. Nearby occupiers include Boots Pharmacy, Co op and numerous independent retailers.
Location Pin (What3Words): grit.drum.thigh
NB WE DRAW YOUR ATTENTION TO THE SPECIAL CONDITIONS IN THE LEGAL PACK, REFERRING TO OTHER CHARGES IN ADDITION TO THE PURCHASE PRICE. PLEASE ENSURE YOU READ THE SPECIAL CONDITIONS THOROUGHLY
Rents
96-97 St Georges Road is let to Leaders Ltd on a 10 years lease expiring 21st April 2032 (Break Clause And Rent Review Date April 2027). Current rent £22,000 pa.
98 St Georges Road is let to The Martlets Trading Company Ltd on a 10 years lease expiring 4th May 2032 (Break Clause And Rent Review Date May 2027). Current rent £17,000 pa.
99 St Georges Road is let to Marie Curie on a 10 years lease expiring 2nd March 2031
(Break Clause And Rent Review Date March 2026). Current rent £19,000 pa.
Ground Rents
Balcony Flat 98/99 St Georges Road - current rent £150 pa rising every 25 years £300.00/£450.00/£600.00.
Accommodation
COMMERCIAL UNITS
96-97 (Ground) - 97.67 sq.m
98 (Ground) - 85.35 sq.m.; 98 (Basement) - 83.05 sq.m.
99 (Ground) - 74.98 sq.m.
Total Floor Area - 341.05 sq.m.
Rateable Values
96-97 - £19,000.00
98 - £15,500.00
99 - £17,250.00
Lease Term
96a St Georges Road - 999 year lease from 29th September 2012 - 988 years remaining.
Balcony Flat 98/99 St Georges Road - 125 year lease from 29th September 2002 - 104 years remaining.
Window Flat 98/99 St Georges Road - 189 year lease from 29th September 2002 - 168 years remaining.
Loft Flat 98/99 St Georges Road - 173 year lease from 12th July 2018 - 168 years remaining.
Tenure
Freehold
EPC Rating
96-97 - D
98 - C
99 - E
Brochures
Legal Documents96-99 St Georges Road, Kemptown, BN2 1EE
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Brighton Station1.1 miles
- London Road (Brighton) Station1.4 miles
- Moulsecoomb Station1.9 miles
About Austin Gray, Auction House Sussex
Austin Gray LLP, 37 Vernon Terrace, Brighton, BN1 3JH
Auction House Sussex & Hampshire is one of the largest property auctioneers in the South of England. Operated by Estate Agency Austin Gray, we have more than 40 years' experience selling properties at auction.
Through our extensive market knowledge and proactive marketing, we are highly regarded for selling residential investment properties locally.
Each year we hold in excess of seven live stream and multiple online auctions. Our team sell a significant number of lots in the Brighton & Hove area where our offices are located. These include residential & commercial property, development sites, land & garages.
In 2023 we have expanded our South East coverage to include Hampshire. Our auction services are now available across the whole of Sussex and Hampshire. These areas include Chichester, Rye, Horsham, Crawley, Basingstoke & Dean, Petersfield, Gosport and The New Forest.
If you need any advice or assistance, please call our team who would be delighted to help you.
Notes
Disclaimer - Property reference 212726. 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.
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 109784.
*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.”
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