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Busy Retail Location
High Pedestrian Flow - Day & Night
Income Producing Investment For Sale
Popular Kemp Town Area
Ground Floor Accommodation 499 sq ft (46.36 m2)
Ground Floor shop as follows;
Gross Frontage - 16' Internal Width - 13'42 (max) Total Depth - 43'2 (max) = Total Accommodation - 499 sq ft (46.3 m2)
Operating as an International Food Store trading as 'Green City' and recently refitted to include fluorescent strip lighting and extensive glass window display frontage. To the rear of the unit is a separate kitchenette area and single use w/c facility plus access to a rear store.
A commercial recording studio is situated in the basement and three separate residential units over on each floor - each part has been sold on long term leasehold interests.
Tenure & income
Ground floor retail premises let to Mr Sherko Karim trading as 'Green City' international food store on a new 8 year lease from March 2021 at a commencing rent of £13,200 per annum, exclusive. An effective Full Repairing & Insuring lease with 100% maintenance collection from all tenants plus buildings insurance cover. Tenant only Break Clause at the 4th anniversary of lease commencement.
The basement is sold to a commercial recording studio and the three upper floors are sold individually as residential accommodation - all four pay £100 per annum ground rent each.
Total Income £13,600 (thirteen thousand six hundred pounds) per annum, exclusive.
Offers invited in the region of £180,000 (one hundred and eighty thousand pounds) for the freehold interest to include all income as stated above. A purchase at this level would offer a Net Initial Yield of 7.4% after standard purchaser costs.
* Sizes listed are approximate. Please contact the agent to confirm actual size.
For more information about this property, please contact Graves Jenkins, BN1 on +44 1273 083470 * (local rate)
Contact Graves Jenkins about this property
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