Commercial Investment Property for sale

SUBSTANTIAL MIXED USE INVESTMENT FOR SALE BY AUCTION, KEMPTOWN HOUSE, 33 MIGHELL STREET & 72 CARLTON HILL, BRIGHTON


£1,000,000
4,036 ft²

Features

  • 3 SELF CONTAINED OFFICE SUITES
  • CLOSE TO NEW EDWARD STREET QUARTER & CIRCUS STREET DEVELOPMENTS
  • GOOD TENANT MIX
  • GUIDE PRICE £1,000,000 TO £1,200,000
  • INVESTMENT OPPORTUNITY
  • MODERN BUILDING

Description

A substantial commercial investment comprising 3 office suites totalling 4,036sqft (374.96sqm) let at £87,500pa. There are 9 flats above, which are all sold off on long leases, which provide an additional income of £900pa.
UPPER GROUND FLOOR SUITE 1 -Let to Rooms for Therapists Limited for a lease term expiring 4th June 2029 with a tenant only break clause on the 4th June 2024, subject to 6 months prior notice, paying a rent of £15,000pa exclusive.
LOWER GROUND FLOOR EAST - Let to McLaren Construction (South) Limited for a lease term expiring 7th January 2023 with a tenant only break clause on the 8th December 2022, subject to 3 months notice, paying a rent of £24,500pa exclusive. The lease is excluded from sections 24-28 of the Landlord & Tenant Act 1954.
LOWER GROUND FLOOR WEST- Let to Arke Agency Limited for a lease term expiring 16th May 2024 with a tenant only break clause on the 17th May 2022, subject to 6 months notice, at a rent of £48,000pa exclusive.
Residential- There are 9 flats over part first, second and third floors which are all sold off on 125 year leases from circa 2019, producing a combined initial ground rent of £900 pa.
FREEHOLD - The sale of the freehold will be by way of a transfer of 100% share capital in the holding company. This is the only asset the company holds. Further details will be in the legal pack.

Categories

Commercial Investment Property
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Property reference
TH4267_42