Commercial property for sale in Mighell Street, Brighton BN2

Key Points

Description

A 5x storey modern purpose built block of 3x commercial units & 9x apartments, which have been sold off by way of long leasehold interests at peppercorn rents.

The 3x commercial units are arranged at ground & lower ground floor levels let to Rooms for Therapists Limited, Synertial Technologies Ltd & Maximus UK Services Limited.

Planning consent has been obtained to construct 2x further 2x bedroom apartments on the current roof space at 4th floor level, under planning application number BH2022/00717 & appeal number app/Q1445/D/22/3301047.

Eastern Unit, 33 Mighell Street - 1,418sq.ft
Let to Synertial Technologies Ltd for a term of 3 years from 10th October 2022 with provison for an 18 month break clause at a rent £20,000 per annum exclusive.

Western Unit, 33 Mighell Street - 1,918sq.ft
Let to Maximus UK Services Limited for a term 4 years from 13th February 2023, with provision for a tenant only break on the 3rd anniversary subject to 6 months notice at a rent of £42,500 per annum exclusive.

South Unit - Let to Rooms for Therapists Ltd - 700sq.ft
The landlord holds a deposit of £3250 plus notional VAT for a lease term expiring 4/6/2029 with a tenant only break clause on the 4/6/2024 subject to 6 months prior notice, paying a rent of £15,000 per annum exclusive.

Collective income of £77,500pax.

Location

The property is located on the corner of Carlton Hill and Mighell Street adjacent to the new Amex Building, Edward Street Quarter and Circus Street developments.

The popular Queens park is a few minutes walk away and Brighton City Centre and Brighton seafront are also easily accessed.

Viewings

Viewings can be arranged via Sole Agents - Newlands Property

Terms

For Sale via Online Auction with guide price of £725-750,000 fh. Subject to the existing leases in place.

Availability_Text

The accommodation comprises the following areas: