Queens Road, Brighton
- PROPERTY TYPE
Commercial Development
- SIZE
Ask agent
Key features
- Auction Date 22nd November 2023
- High Yielding Mixed Freehold Investment Able to Return 10.3%
- Ground Floor and Lower Ground Floors as Pub and Restaurant
- One Bedroom First Floor Flat Currently Let on an AST
- Sold on a Sale and Leaseback for 20 years or with Vacant Possession
- Total Rental Income Available £62,000
- Ideal as a High Yielding Investment or for End User
- Break Up Value Included
Description
Auction Guide OIEO £600,000
Mixed Freehold Commercial & Residential Investment in superb condition throughout
An excellent opportunity to purchase the freehold of this attractively designed building comprising of a public house and restaurant, together with a self contained one bedroom first floor flat. The pub/restaurant and kitchens have been recently modernised.
Trading as the Royal Standard, the premises occupies a first class position in Queens Road, literally within a stones throw from Brighton Mainline Railway Station as well as providing immediate access to the city centre of Brighton as well as the seafront.
The property is able to be purchased with full vacant possession if required or if preferred, on a sale and leaseback as per the terms of the draft lease as detailed within the legal pack. Terms will be for a 20 year term at an initial passing rent of £50,000 per annum for the ground and lower ground floors.
The first floor flat, which has its own street entrance and thus able to be sold separately if required, is one of 3 flats in the building with the other 2 having been sold off on long leases. The flats enjoy the benefit of their own entrance in Queens Road. The rent from the flat is currently (in our opinion) underlet at £12,000 per annum.
Total rental income available is at least £62,000 at a yield of 10.3%
VAT is applicable in respect of the purchase
Brochures
Queens Road, BrightonQueens Road, Brighton
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Brighton Station0.1 miles
- London Road (Brighton) Station0.7 miles
- Preston Park Station1.3 miles
Notes
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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.”
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