Overview
Fully Income Producing Freehold Retail/Residential Investment in Town Centre Location
The Property comprises a 3 storey mid terraced building, with the Ground Floor being a self-contained Ground Floor Shop and Basement with Rear Garden Area. The Upper Parts comprise a 2 Bed Maisonette Flat accessed via it’s own entrance to the left of the Shop Front.
Tenancy Schedule
Shop – Let on a new full repairing and insuring lease for a term of 5 Years with an annual rent of £10,000 from 4th June 2025. A £2,500 Deposit is held by the existing Landlord in this regard.
Flat – 62b Susan’s Road - the 2 Bedroom Maisonette is currently let on an AST to a long-term Tenant paying £10,200 per annum (£850pcm).
Total Income £19,200 per annum
Size
Amenities
Location
The Property is situated in Eastbourne Town Centre and is on the principal ring road one way system on the eastern side of Susan’s Road and close to The Beacon Shopping Centre and Mainline Railway Station with services to London Victoria, Brighton and Ashford International. The Property forms part of a parade of shops and residential premises close to the Seafront.
Rent
Business Rates
According to the Valuation Office website the premises are described as:
Shop and premises
Current Rateable Value (1 April 2023 to present) £4,800
Council Tax
The Flat is in Council Tax Band B
VAT Details
There is no VAT related to this premises.
Legal
Each party is to be responsible for their own legal fees.
Terms
£230,000 - Representing a net yield of 8.53%
