Offers in region of
£1,100,000
(£319.95/sq. ft)
Property for sale223, 223A & 223B High Street, Lewes BN7
3,438 sq. ft
Just added
Freehold
About this property
Comprising two shops and residential accommodation above
Let to jg Foods Ltd (t/a Grape Tree) and Wilson, Wilson & Hancock Ltd
Residential flat and long leasehold ground rent income
Passing Rent £105,290 p.a.
Five car parking spaces to the rear
VAT is not applicable
Description
The property comprises a mixed use investment arranged as two ground floor retail units with residential accommodation above. The upper parts include a self-contained flat together with a separate long leasehold interest producing a ground rent income. The property also benefits from five car parking spaces located to the rear.
Location
Lewes is an affluent and historic county town in East Sussex, situated approximately 9 miles north east of Brighton. The town benefits from excellent transport connections, with the A27 providing access along the South Coast and the A26 offering convenient northbound links. Lewes railway station, located approximately 500 metres from the property, offers regular services to London Victoria (around 65 minutes), London Bridge (approximately 70 minutes), and Brighton (circa 15 minutes). The property itself occupies a prominent position on the north side of the High Street, directly opposite Railway Lane.
Accommodation & Tenancy Schedule
The property is fully let and income producing:
• 223 High Street is let to jg Foods Ltd (trading as Grape Tree) holding a 10 year lease from 27 August 2020 at £45,000 per annum exclusive. Grape Tree is one of the largest health food retailers in the UK. Well-established UK operator specialising in nuts, dried fruit, health foods and wellbeing products. Extensive nationwide network of stores across the UK. Occupies under a lease expiring August 2030.
• 223B High Street is let to Wilson, Wilson & Hancock Ltd on a 10 year lease from 5 November 2019 at £41,000 per annum exclusive. Wilson, Wilson & Hancock Ltd are an established independent opticians, who have been trading over 20 years. Operates from a number of locations across Sussex. Longstanding professional practice serving the local area. Occupies under a lease expiring November 2029.
• The residental element comprises a well appointed two bedroom first floor flat, currently let on a periodic tenancy producing £19,140 per annum.
• Completing the investment is 223C High Street, held on a 125 year long lease from 2020, generating a further £150 per annum in ground rent.
Investment Summary
• Freehold mixed-use investment in affluent county town.
• Prime High Street position opposite Railway Lane.
• Let to established retail occupiers.
• Reversionary potential from outstanding commercial rent reviews.
• Residential and ground rent income.
• Five rear car parking spaces.
• Passing rent of £105,290 per annum.
• VAT not applicable.
EPC
Shop 1 - D
Shop 2 - D
Flat – D
The property comprises a mixed use investment arranged as two ground floor retail units with residential accommodation above. The upper parts include a self-contained flat together with a separate long leasehold interest producing a ground rent income. The property also benefits from five car parking spaces located to the rear.
Location
Lewes is an affluent and historic county town in East Sussex, situated approximately 9 miles north east of Brighton. The town benefits from excellent transport connections, with the A27 providing access along the South Coast and the A26 offering convenient northbound links. Lewes railway station, located approximately 500 metres from the property, offers regular services to London Victoria (around 65 minutes), London Bridge (approximately 70 minutes), and Brighton (circa 15 minutes). The property itself occupies a prominent position on the north side of the High Street, directly opposite Railway Lane.
Accommodation & Tenancy Schedule
The property is fully let and income producing:
• 223 High Street is let to jg Foods Ltd (trading as Grape Tree) holding a 10 year lease from 27 August 2020 at £45,000 per annum exclusive. Grape Tree is one of the largest health food retailers in the UK. Well-established UK operator specialising in nuts, dried fruit, health foods and wellbeing products. Extensive nationwide network of stores across the UK. Occupies under a lease expiring August 2030.
• 223B High Street is let to Wilson, Wilson & Hancock Ltd on a 10 year lease from 5 November 2019 at £41,000 per annum exclusive. Wilson, Wilson & Hancock Ltd are an established independent opticians, who have been trading over 20 years. Operates from a number of locations across Sussex. Longstanding professional practice serving the local area. Occupies under a lease expiring November 2029.
• The residental element comprises a well appointed two bedroom first floor flat, currently let on a periodic tenancy producing £19,140 per annum.
• Completing the investment is 223C High Street, held on a 125 year long lease from 2020, generating a further £150 per annum in ground rent.
Investment Summary
• Freehold mixed-use investment in affluent county town.
• Prime High Street position opposite Railway Lane.
• Let to established retail occupiers.
• Reversionary potential from outstanding commercial rent reviews.
• Residential and ground rent income.
• Five rear car parking spaces.
• Passing rent of £105,290 per annum.
• VAT not applicable.
EPC
Shop 1 - D
Shop 2 - D
Flat – D
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