Property Summary

Commercial
The ground and basement floors are LET to Nero Holdings Limited, Trading as Cafe Nero, for a 6 year term from March 2021 at a rent of £55,000pa, expiring 10 April 2027.
The commercial unit has a large basement, extending to around 123 sq.m. and a ground floor area of 132 sq.m. (based on gross internal floor plans as set out).

Rateable Value £65,000

Residential
Approached via a separate entrance on the West side of the building in Little Preston Street
3 converted flats set out below:-
Flat 1; large 3 Bed Flat, let as a HMO (3 sharers).
The property is VAT elected but the sale is intended to be dealt with for VAT purposes as a TOGC (Transfer of a Going Concern)

lot type

Mixed Use

situation

Situated at the junction of the main Western Road and Preston Street, adjacent commercial users including Superdrug, Betfred, Sainsburys and Argos

accommodation

Flat 1; First Floor 3 Bedrooms, Lounge, Kitchen, Bath/WC (103 sq.m). Let @ £16,200pa

Flat 2; Second Floor 1 Bedroom, Lounge, Kitchen, Bath/WC (39 sq.m). Let @ £10,200pa

Flat 3; Second Floor 2 Bedrooms, Kitchen, Lounge, Bath/WC (51 sq.m). Let @ £12,000pa

Total Rental Income £93,400

Our opinion is that the residential costs are underlet and the total estimated rental value is £101,800

offers invited text

These are our opinions of the estimated rental values, purchasers to satisfy themselves on this element

type

A substantial mixed commercial/residential investment in a prime corner location in central Brighton

description

Commercial
The ground and basement floors are LET to Nero Holdings Limited, Trading as Cafe Nero, for a 6 year term from March 2021 at a rent of £55,000pa, expiring 10 April 2027.
The commercial unit has a large basement, extending to around 123 sq.m. and a ground floor area of 132 sq.m. (based on gross internal floor plans as set out).

Rateable Value £65,000

Residential
Approached via a separate entrance on the West side of the building in Little Preston Street
3 converted flats set out below:-
Flat 1; large 3 Bed Flat, let as a HMO (3 sharers).
The property is VAT elected but the sale is intended to be dealt with for VAT purposes as a TOGC (Transfer of a Going Concern)