Freehold Mixed Investment Producing £51,680 Per Annum

An end terrace building in this busy thoroughfare on the south side of St James Street. This four storey building comprises a commercial unit over the ground floor and basement, with a first floor 3-bedroom flat and a second floor 2-bedroom flat. Situation Situated on St James Street, within the East Cliff Conservation Area of Kemp Town. The area is populated by many well established independent coffee shops and restaurants, along with a number of larger commercial traders such as Starbucks, Superdrug and Sainsburys. Brighton Seafront and Promenade is just minutes away. Central Brighton is just half a mile away, along with Brighton Station (London Victoria 72 minutes) Location Pin (What3Words): cheese.danger.hints https://w3w.co/cheese.danger.hints 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 EPC Rating 26a - E 26b - E Commercial - D

Lot Type

Freehold Mixed Commercial / Residential Investment

Accommodation

Ground Floor Commercial Unit And Basement - 120 sqm 3 Bedroom First Floor Flat - 72 sqm 2 Bedroom Second Floor Flat - 62 sqm Tenancies 24a - Assured Shorthold Tenancy Agreement for 6 months from 28th June 2024, expires 27th December 2024, at a rent of £1200 pcm. 24b - Assured Shorthold Tenancy Agreement for 6 months from 18th September 2023, expires 17th March 2024, at a rent of £900 pcm. Retail unit 116 St James Street - Let on a 16 year lease from 22nd December 2010. Rent £12,480 pa. Rent review on the fourth, eighth and twelfth anniversary of the lease. Retail unit 117 St James Street - Let on a 16 year lease from 6th August 2020. Rent £14,000 pa. Rent review every fourth anniversary of the lease. FRI terms subject to schedule of condition. Please be aware both commercial units were previously separate.

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.