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11/11A North Street, Eastbourne, East Sussex, BN21

£70,000

£216.72 per sq ft

Business rates & charges may apply

Blue Alpine, London
SIZE AVAILABLE

323 sq ft

30 sq m

SECTOR

Mixed use property for sale

USE CLASSUse class orders: Class E

E

Key features

  • Rental Income: £6,670 p.a.
  • Gross Initial Yield: 9.53%
  • Comprises ground floor shop t/a grocery store and residential flat above (sold-off)
  • Situated in the heart of the town centre with occupiers nearby including Café, Hair Salon, Takeaway`s, Gallery and many more.

Description

Investment Consideration:
Gross Initial Yield: 9.53%
Rental Income: £6,670 p.a.
VAT is NOT applicable to this property
Comprises ground floor shop t/a grocery store and residential flat above (sold-off)
Situated in the heart of the town centre with occupiers nearby including Café, Hair Salon, Takeaway`s, Gallery and many more.

Property Description:
The property comprises mid-terrace ground floor shop and self-contained flat at first/second floor which has been sold-off on long leasehold, providing the following accommodation and dimensions:
Ground Floor Shop: 30 sq m (323 sq ft)
Open plan retail, storage, wc
First/Second Floor Flat: Sold-off

Tenancy:
The retail shop is at present let to an Individual for a term of 3 years from 5th August 2024 at a current rent of £6,500 p.a. and the lease contains full repairing and insuring covenants. Tenant option to determine in August 2026 with minimum 6 months notice. Deposit held of £1,625.
The residential flat has been sold-off to Individuals for a term of 99 Years from 1st January 2002 at a ground rent of £170 p.a. Rent review in 2035 and 2068. Reversion in 2101 (~75 years remaining).

Location:
Eastbourne is a large and popular resort town on the East Sussex coast, between Brighton and Hastings. The A27 provides east/west connections whilst the A22 links with the M25 (J6) to the north. Eastbourne Rail Station is 10 min walk from the property and provides regular services to London Victoria (1hr 31mins) & London Gatwick Airport. The property is situated in the heart of the town centre with occupiers nearby including Café, Hair Salon, Takeaway`s, Gallery and many more.

11/11A North Street, Eastbourne, East Sussex, BN21

Approximate location
Open mapStreet View

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Eastbourne Station0.4 miles
  • Hampden Park Station1.8 miles
  • Pevensey & Westham Station3.6 miles

About Blue Alpine, London

54 Welbeck Street, London W1G 9XS

Blue Alpine is a UK-wide property consultancy based in central London, focusing on commercial property, developments and residential blocks. Our services include disposals, acquisitions, lettings, auction advice, planning and architecture, dilapidations, and surrenders of leases.

Blue Alpine plans and delivers solutions that manage risk, optimise benefits, and expand the power of capital to protect and strengthen portfolios. By employing a transparent and consultative approach, we can assess and manage your current portfolio to devise a forward-looking investment plan and, if necessary, an exit strategy.

We are dedicated to disrupting the commercial property industry by delivering exceptional solutions that prioritise honesty, transparency, integrity, and providing an unparalleled client experience. Our team consists of knowledgeable professionals with a strong background in commercial property, enabling us to help clients around the world turn property into a path for growth.

Together, we unlock potential.

Notes

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Disclaimer - Property reference 11northstfreehold. 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 Blue Alpine, London. 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.

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