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    Key features

    • Freehold mixed-use investment comprising of ground floor commercial unit & a self-contained contained One-bedroom flat at first-floor
    • Total building an approx. 1,324 sq ft (Commercial unit 807 sq ft & flat 517 sq ft)
    • Entire property let on one overriding lease at £20,000 p.a.
    • Lease expires 24 December 2026
    • Asset management potential to let the commercial unit & flat out on sperate leases and increase the passing rent
    • Potential to sell the flat or commercial unit off separately
    • VAT free investment
    • Investment let £20,000 p.a. (12.5% GIY on guide price)

    Description

    A freehold mixed-use investment providing approximately 1,324 sq ft of accommodation, arranged as an 807 sq ft commercial unit with a 517 sq ft one-bedroom flat above. Let as a whole at £20,000 per annum until December 2026, the property offers attractive asset management potential through separate letting or disposal of the commercial and residential elements.

    Additional information

    Tenure

    Freehold

    Accommodation

    Commercial unit an approx. 807 sq ft

    Flat 3a an approx. 517 sq ft

    Total: 1,324 sq ft

    Tenancy

    3 & 3a Sedlescombe Road North

    • Let to Guoqiang You, trading as a Chinese takeaway
    • Entire property let on a 15-year overriding lease from 25 December 2011
    • Lease includes the ground-floor commercial unit and first-floor one-bedroom flat (3a)
    • Commercial lease on FRI terms
    • Lease expires 24 December 2026
    • Rent deposit of £4,375 held
    • Former tenant has provided an Authorised Guarantee Agreement (AGA)
    • Current tenant has proposed to remain at £20,000 p.a. after lease expiry while a new tenant is found
    • Investment let at £20,000 p.a.

    Rent

    £20,000 p.a.

    Notes

    Please note the areas provided are approximate. The photos and any drawings are for illustrative purposes only and may not reflect the exact boundary of the property. Prospective purchasers must rely upon their own enquiries in this regard. Please refer to the legal pack.

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      Local information

      Situated on Sedlescombe Road North, St Leonards-on-Sea, within an established residential and commercial area close to local shops, amenities and transport links, with easy access to Hastings and the A21.

      Transport

      Good road communications are available via the A21, with St Leonards Warrior Square railway station approximately 1 mile away, providing regular rail services to London and across the South East.

      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.

      •Some properties might be open to offers prior to auction. Exchange will take place, subject to contract and no higher offers, on auction terms and as per the legal pack. Please contact the auctioneer with your best and final offer, their details can be found on each lot page.

      •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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