Premises comprise a self-contained ground floor shop together with two one- bedroom flats above and 5 single garages to the rear. The ground floor is currently sub-divided to provide a retail area and large rear store together with a kitchenette and WC and an additional small lean-to store. The first and second floor flats are accessed via an external staircase to the eastern end of the parade and benefit from fitted kitchens and bathrooms; uPVC double-glazed windows and electric wall mounted panel heaters.
The property is situated in a convenient location on the east side of the town, just south of the Brighton Road in a mixed commercial and residential location. The town centre, with its comprehensive shopping facilities, mainline railway station and car parks are all within a short walking distance.
The premises are available by way of a sale of the freehold interest, subject to the existing tenancies.
The ground floor shop is let by way of a 1-year lease from 1st July 2022 at a rent of £17,000 per annum* with either party having the ability to serve 8 weeks’ notice at any time throughout.
*Please note a concessionary rent agreement has been entered into between the Landlord and Tenant. Further details are available upon application.
8B Queens Parade is currently let by way of a periodic Assured Shorthold Tenancy, which commenced on 24 September 2020 at a rent of £725 per calendar month.
8A Queens Parade is currently let by way of a periodic Assured Shorthold Tenancy, which commenced on 20 September 2019 at a rent of £710 per calendar month.
In the case of a periodic tenancy the Landlord can serve 2 months’ notice and the tenant 1 months’ notice at any time. Having spoken with the residential managing agents it is felt that there would be scope to increase these rents to figures more in line with market levels.
VAT is not applicable on the terms quoted.
Each party to be responsible for their own legal costs.
4 Queen Street has a Rateable Value of £13,500 with a ubr of 49.9 p in £.
8a and 8b Queens Parade both fall within Council Tax Band A.