3–5 North Street, Portslade, East Sussex, BN41

An opportunity to acquire a freehold retail investment comprising a ground floor café with residential accommodation above, sold off on a long leasehold basis.

The property is a three-storey terraced building of brick and rendered construction beneath a flat roof. The ground floor extends to approximately 665 sq ft (61.8 sq m), providing open-plan customer seating, a kitchen, rear storage and WC facilities.

The commercial premises are let on a 10-year lease from 2 April 2020, expiring on 1 April 2030, producing £13,000 per annum.
 
The first and second floors comprise a self-contained maisonette, sold on a 125-year lease from 29 September 1989, producing an additional ground rent of £100 per annum.

The property therefore generates a total annual income of £13,100. 
The building has recently benefited from a replacement flat roof and skylight, with works costing approximately £12,800.

Under the terms of both leases, building maintenance costs are shared equally between the two leaseholders on a 50/50 basis.
 
The freehold is offered for sale subject to the existing occupational and long leasehold interests.

Guide Price: £145,000.

Viewings and further information are available upon request.
Location
3–5 North Street is situated in an established commercial location in Portslade, to the west of Brighton & Hove.

The property is positioned close to Boundary Road, a popular local retail destination with occupiers including Tesco, Specsavers and Superdrug.
 
Portslade railway station is approximately 0.5 miles away, providing connections to Brighton, Worthing and London. The A259 Coast Road and A270 Old Shoreham Road are also easily accessible.