22 Cornfield Road, Eastbourne, BN21 4QE

£575,000

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Property Summary

Freehold property arranged as a ground floor retail unit with basement, total area of approximately 213 sq m. On the upper floors are offices with separate access. The entire building is let to Done Brothers (Cash Betting) Limited (co. number 1277703) on a 20 year lease from 16th July 1999. The lease expired in July 2019 and the tenants are holding over on F.R.I terms. Rental income £51,516 per annum (last review July 2014).

The upper floor offices extend to 144m2 (plans available upon request). The ground floor extends to circa 85 sq.m. (ITZA 708 sq.ft). There is an extensive basement which extends to approximately 87 sq.m.

Copy of lease available upon request.

Situation The property is situated on a prominent corner position at the junction of Cornfield Road is situated in central Eastbourne and is surrounded by an array of independent traders, restaurants and coffee shops. There is also larger commercial users close by including Pizza Express and The Co-op. At the top of the road is The Beacon Shopping centre.

Rents Current rent £51,516 per annum (last rent review July 2014) (trading as Betfred). The upper floors are subject by Betfred as offices

Betfred have indicated they wish to take a shorter term but no terms have been agreed.

No Schedule of Dilapidations have been prepared.

No VAT

Floor plans to upper parts available on request

Price - £575,000

lot type

Mixed Use

private treaty - sale status

SOLD 2022

type

Freehold Commercial investment in central Eastbourne currently let at £51,516 per annum.
Entire building let to Done Brothers (Cash Betting) Limited trading as Betfred.
Lease expired - holding over. Future redevelopment potential on upper parts.

description

Freehold property arranged as a ground floor retail unit with basement, total area of approximately 213 sq m. On the upper floors are offices with separate access. The entire building is let to Done Brothers (Cash Betting) Limited (co. number 1277703) on a 20 year lease from 16th July 1999. The lease expired in July 2019 and the tenants are holding over on F.R.I terms. Rental income £51,516 per annum (last review July 2014).

The upper floor offices extend to 144m2 (plans available upon request). The ground floor extends to circa 85 sq.m. (ITZA 708 sq.ft). There is an extensive basement which extends to approximately 87 sq.m.

Copy of lease available upon request.

Situation The property is situated on a prominent corner position at the junction of Cornfield Road is situated in central Eastbourne and is surrounded by an array of independent traders, restaurants and coffee shops. There is also larger commercial users close by including Pizza Express and The Co-op. At the top of the road is The Beacon Shopping centre.

Rents Current rent £51,516 per annum (last rent review July 2014) (trading as Betfred). The upper floors are subject by Betfred as offices

Betfred have indicated they wish to take a shorter term but no terms have been agreed.

No Schedule of Dilapidations have been prepared.

No VAT

Floor plans to upper parts available on request

Price - £575,000