June 2023: Wednesday 21 June 2023 - 9:00am
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    Key features

    • Investment let at £45,000 p.a.
    • Entire property let on a new 5 year FR&I lease from 2023 to Iceland Supermarket (No Breaks)
    • An approx. 847.7 sqm (9,124 sq ft)
    • Rare unbroken freehold on the Street with a rear service yard and separate goods access.
    • Future Development potential to repurpose the upper floors into multiple residential dwellings (subject to the existing lease and requisite consents)
    • Bexhill Station located an approx. 0.3 miles from the property
    • Same Family Ownership for over 20 years+
    • 6 week completion

    Description

    A double fronted mid terrace building located on a busy shopping parade and situated across Ground, First, Second and Attic Floor. The properties main entrance is via Devonshire Road and stretches back to Albert Road which is provides a service yard and goods access for the property.

    National Retailer located close by include Co-op, Boots Pharmacy, Holland and Barrett as well as a wide range of local and independent retailers.

    Additional information

    Tenure

    Freehold

    Tenancy

    44 Devonshire Road

    • Let to Iceland Foods Limited (TA Iceland supermarket)
    • Let on a 5 year lease from the 10th May 2023 (subject to an option in year 3)
    • FR&I lease
    • Investment let at £45,000 p.a.

    Please note that under the terms of the lease, the current rent is £22,500 pa for the first 6 months of the term and then reverts to £45,000 pa for the remainder of the term. The vendor has agreed to top up the completion monies so that the property effectively produces £45,000 pa from completion until the end of the 6 month term (please refer to legal pack)

    Rent

    £45,000 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. The property has not been internally inspected by Savills. Prospective purchasers must rely upon their own enquiries in this regard. Please refer to the legal pack.

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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.

      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

      The property is located on western side of Devonshire Road and is located between the junctions of Marina Road and Parkhurst Road.

      Bexhill Station is located an approx. 0.3 miles from the property.

      Transport

      Bexhill Station - National Rail services

      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.

      Addendums