SOLD / WITHDRAWN
13/02/24
1827
31044 / Rightbiz
Summary
This is an opportunity to acquire a freehold property with a rental income in Bexhill town centre. It generates an annual income from commercial rent and residential ground rents of £19,700 with a well-established commercial tenant.
Location
Bexhill has a population of around 41,000 and it attracts many visitors throughout the year with attractions such as the Del La Warr arts centre. The property is located in one of the busiest retail areas in the town, very close to the main train centre.
Premises
The period freehold property is arranged over three storeys plus a basement area. It is comprised of two self-contained residential flats which are both sold on long leases and a lockup commercial unit occupying the ground floor and basement.
Leases & Rents
Lease Terms | Proportion of Service Charge, Insurance, etc
| Annual Rent | |
Commercial Unit | Full insuring and maintaining 10-year lease from 2022. Tenant’s break clause at year 5.
| 50% | £19,200 |
Flat 1
| 125-year lease from 2022 | 30% | £250 |
Flat 2 | 125-year lease from 2021 | 20% | £250 |
Total Rent | £19,700 |
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