Long Leasehold Commercial Investment In Central Hove Producing £9,000 Per Annum

Long leasehold ground floor, commercial unit located on Church Road, Hove. The commercial unit is let under a licence agreement to 'Wholesale Wood Flooring LTD' at a current rent of £9,000 per annum. The Licence agreement terminated 14th April 2022. The occupier is holding over. Situation Ground Floor 172 Church Road, forms part of a terrace of properties in the busy thoroughfare on the South side of Church Road. The area is populated by many well established independent traders, including restaurants, bars and coffee shops. Numerous buses serve the area and Hove Railway Station is within walking distance. Location Pin (What3Words): rewarding.smiles.sings https://w3w.co/rewarding.smiles.sings Accommodation Retail area - 16.8 sq m W/C Total Floor Area - 19 sq m <NB WE DRAW YOUR ATTENTION TO THE SPECIAL CONDITIONS IN THE LEGAL PACK, REFERRING TO OTHER CHARGES IN ADDITION TO THE PURCHASE PRICE. PLEASE ENSURE YOU READ THE SPECIAL CONDITIONS THOROUGHLY Rateable Value - £5,400 Tenure - Leasehold - 125 year lease from the 25th March 1980 - (approximately 81 years remaining). The ground rent payable to the Freeholder is £10pa. Tenancy Let on a licence agreement from the 15th April 2021at a rent of £9,000 per annum. EPC Rating - E

Lot Type

Commercial Investment

Additional Fees

Administration Charge - Purchasers will be required to pay an Administration fee of 0.5% (inc VAT) of the sale price, subject to a minimum of £1,500 (£1,250 plus VAT)

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.