September 2022: Thursday 01 September 2022 - 9:00am
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Floorplan
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    Key features

    • Investment let at £35,100 p.a. (8.7% yield on Guide price)
    • Let on a new 7 year lease from 25/12/2021 no tenant break options
    • The property has recently been renovated to a high standard
    • Comprising on an approx. 173.75 sqm (1,870 sq ft)
    • Located in the picturesque market Town of Lewes
    • VAT free Investment

    Description

    The property is a mid terrace traditional brick building comprising of Commercial space on the ground floor with the 6 flats located on the upper floors (Flats sold off on long lease).

    Nearby occupiers include a range of independent and boutique restaurants, pubs and retailers.

    The commercial premise is trading as Sultans (Turkish Restaurant) https://www.sultanlewes.co.uk/index.aspx

    Additional information

    Tenure

    Freehold

    Upper floors comprises of 6 flats that have been sold off on a long lease on a peppercorn rent.

    Accommodation

    Please note that approximate floor areas have been taken from the VOA and the property has not been inspected by Savills.


    Ground Floor - Restaurant Space, Kitchen, Storage and 2 x W/C's

    Comprising on an approx. 173.75 sqm (1,870 sq ft)


    Tenancy

    18 West Street

    • Tenant private individual (T/A Sultans)
    • Let on 7 year lease from 25/12/2021 No break options
    • Rent review on the 4th anniversary of the term (Upwards only)
    • Investment let at £35,100 p.a.

    Rent

    £35,100 p.a.

    Notes

    Please note the site areas provided are approximate. The photos 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.

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

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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 situated less than 10 miles north of Brighton

      Well located for Lewes Golf Club and Lewes Priory

      Victoria Hospital can be found just over a mile away

      There is a variety of bars and pubs located within a mile of the property

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

      Transport

      Lewes Station provides services to Brighton and London Victoria

      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