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June 2023 21 June 2023 - 9:00am >
Lot 62
June 2023: Wednesday 21 June 2023 - 9:00am
Your Bid
Guide price
TBA
Hammer price
Withdrawn
Withdrawn Prior
Sold
Sold Prior
Sold Post
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Key features
- Investment let at £30,000 p.a. inc VAT (A personal rent concession has been granted to current tenant at £26,000 p.a. inc VAT which falls away if the lease is assigned or underlet)
- An approx. 333.68 sqm (3,590 sq ft)
- Floor plans have been uploaded into the photos
- Let on a 15 year FR&I lease from 2014 with an open market Rent review in 2024
- Future asset management potential to increase the rent (subject to negotiation with the tenant)
- Possible future development potential to convert into multiple dwellings (Subject to the requisite consents and existing lease)
- An approx. 0.2 miles from Eastbourne Station
- 9 week completion
Description
The property is an end of terrace double fronted building situated over lower ground, ground, first and second floor. There is a yard /garden space located both at the side of the property as well as the rear.
The property is centrally located between a residential area directly to the North and East and The Beacon Shopping centre located directly opposite and to the south of the property.
Beacon shopping centre is home to a wide range of national and independent retailers and is the main shopping are for the town of Eastbourne.
Additional information
Tenure
Freehold
Accommodation
Please note the approximate areas have been provided by a third party and the property has not been inspected by Savills. The property is believed to comprise of the following
Lower Ground
- Nursery space, Kitchen, sleeping room, Storage and W/C'S
- An Approx. 98.02 sqm (1055 sq ft)
Ground Floor
- Nursery space, Office, Staff and Public WC
- An approx. 98.05 sqm (1055 sq ft)
First Floor
- Nursery space, Office, Staff room and Public WC
- An approx. 89.89 sqm (967 sq ft)
Second Floor/ Attic
- Storage space and office
- An approx. 47.72 sqm (513 sq ft)
Total - 333.68 sqm (3,590 sq ft)
Tenancy
42 Ashford Rd
- Let to Leaps & Bounds Limited (TA as Leaps & Bounds)
- Let on a 15 year lease from July 2014
- Rent reviews every 5th Anniversary
- Personal Guarantees in place
- FR&I lease
- Investment let at £30,000 p.a. inclusive of VAT (A personal rent concession has been granted to current tenant at £26,000 p.a. inclusive of VAT which falls away if the lease is assigned or underlet)
- Current tenant in arrears - a payment plan is in place and the benefit of these arrears will be passed to the purchaser.
Rent
£26,000 p.a.
Notes
Please note the site areas provided are approximate. The photos and yellow line drawings are for illustrative purposes only and may not reflect the exact boundary of the site. The property has not been internally inspected by Savills. Prospective purchasers must rely upon their own enquiries in this regard.
VAT is applicable on this sale, however the sale may be able to be treated as a TOGC (Please refer to the legal pack).
The tenant has a right to purchase the property (please refer to the legal pack)
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