February 2022: Wednesday 09 February 2022 - 9:30am
Your Bid
Guide price TBA
Hammer price

Withdrawn

Withdrawn Prior

Sold

Sold Prior

Sold Post

Place a proxy bid on Lot #{{ lot.total_lot_number }}

Guide Price:

TBA
Bid now

Floorplan
    • View Virtual Tour

      Play

    Remove from wishlist

    Add to wishlist

    Key features

    • Investment let at £12,900 per annum (10.32% on Guide Price)
    • A mid terrace building arranged as a retail unit trading as financial advisors
    • Two first and second floor flats each sold on a lease.
    • Convenient town centre retail location
    • Near station, sea front promenade, beach and pier

    Description

    A mid terrace building arranged as a ground floor and basement retail unit with a separate front entrance to two flats on the first and second floors.

    The well presented retail unit which trades as an independent financial advisor has a rear courtyard/garden area.


    Additional information

    Tenure

    Freehold


    In accordance with Section 5B of the Landlord and Tenant Act 1987, notices have been served on the lessees and they have NOT reserved their rights of first refusal.


    Accommodation

    Ground Floor - Shop area approximately 355 sq ft, Rear Office approximately 130 sq ft, Kitchen, Separate W/C

    Basement - Storage area approximately 280 q ft


    First Floor Flat No 1 - Sold on a 125 year lease from 29th September 2018 Ground Rent of £200 per annum rising


    Second Floor Flat No 2 - Sold on a 125 year lease from 29th September 2018 Ground Rent of £200 per annum rising


    Tenancy

    The ground floor shop and basement are let for a term of 5 years from 13th March 2022 at a rent of £12,500 per annum.

    The tenants are holding over under a 5 year lease that expired on 12th January 2020 at a rent £10,000 per annum


    The shop tenants are in occupation and a lease renewal agreed. The landlord and shop tenants have now both signed and completed the new lease agreement.

    The total current rent is £10,400 per annum, rising to £12,900 from 13th march 2022.

    Rent

    Total Rent £12,900 per annum
      • View Virtual Tour

        Play

      Arrange a viewing

      Please arrive promptly for your viewing. To view properties you have booked a viewing for, visit the My Viewing section of your account.

      Please select a time from the options below

      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.

      Savills are not holding any viewings for this property. For further information please download the legal pack or email the relevant Savills Contact directly.

      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      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.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Local information

      Eastbourne is an increasingly poplar south coast town and seaside tourist resort located 19 miles east of Brighton and 54 miles south of London.

      Situated between the junctions of Gildredge Road (A259) and Grange Road with South Street in a convenient town centre retail location.

      The Town Hall and station are nearby.

      The seafront promenade, beach and pier are all easy accessible.

      The A27 and A22 provide good nearby transport links to the A23/M23 and M25


      Transport

      National Rail - Eastbourne


      Legal documents

      Login to view legal documents

      EPC rating

      The EPC rating for this property is F

      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.

      Addendums