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    Key features

    • High Yielding Retail Investment
    • New Five Year Lease
    • Producing £25,000 per annum
    • Fixed Rental Uplifts
    • Lapsed Planning Consent for Residential Use
    • Average Rent - £28,000 per annum
    • Guide Price Reflects 12% Gross Yield on Average Rent
    • VAT Free Investment

    Description

    The property comprises a high yielding retail investment opportunity situated on a popular street in Eastbourne.

    Arranged across ground and basement floors, the property is fully let on a lease expiring 31/10/2028 and paying £25,000 per annum. The lease includes a fixed rental uplift to £30,000 per annum from 01/11/2025.

    The property may offer medium/long term development potential (subject to obtaining the requisite consents) and previously had planning consent for change of use to provide retail accommodation alongside 1 x two bedroom flats and 1 x one bedroom flats.

    Seaside Road is one of the principal arterial routes in Eastbourne, offering the principal vehicular and pedestrian thoroughfare between the town centre, which includes the Station and the Arndale shopping centre, and the seafront and Eastbourne Pier. The surrounding use is a mix of local retail and residential.

    Additional information

    Tenure

    Leasehold - Please Consult the Legal Pack

    Tenancy

    The property is let to Aqua Property Limited on a five year lease expiring 31/10/2028 and paying £25,000 per annum.


    The lease includes a fixed rental uplift to £30,000 per annum from 01/11/2025 and therefore the average rent over the term certain is £28,000 per annum. The lease is on internal repairing and insuring terms and is contracted out of the security of tenure provisions of the Landlord and Tenant 1954 Act.

    Planning

    The property has lapsed planning consent (Reference: PC/210149) for change of use to provide a mixed use scheme including retail accommodation alongside 1 x two bedroom flats and 1 x one bedroom flats.

    Rent

    £25,000 per annum with Fixed Uplift
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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

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      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

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      Local information

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

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