11 North Street, Eastbourne
Business rates & charges may apply
- SIZE
Ask agent
- SECTOR
Mixed use property for sale
Key features
- High Yielding Mixed Use Investment
- Retail Unit with Residential Upper Parts
- Ground Floor Let on Lease Expiring 04.08.2027
- Asset Management Potential
- Upper Parts Sold on Long Leasehold with 75 Years Unexpired
- Potential for Extension Premium
- VAT-Free Investment
- Investment Let at £6,670 p.a. (13.61% GIY on Guide Price)
Description
Arranged as a ground floor retail unit with residential upper parts, the property is fully let to two tenants and producing a total income of £6,670 per annum.
The ground floor is let to a private individual t/a an African Grocery Shop on a three year lease expiring 04.08.2027 and paying £6,500 per annum. We therefore consider the property offers asset management potential via renewal or extension of the lease.
The upper parts are let on a 99 year long leasehold expiring 31.12. 2099 and paying a ground rent of £170 per annum.
The leasehold therefore has approximately 75 years unexpired and offers the potential for an extension premium.
The property benefits from a frontage to North Street, which comprises part of the secondary retail amenity surrounding Terminus Road and Eastbourne Town Centre.
Brochures
11 North Street, Eastbourne
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
Notes
Disclaimer - Property reference 89BB265E-11EF-47AC-8A67-2941895C9026. 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 Savills, Savills Auctions- Commercial. 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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