Retail investment for sale in Haywards Heath

This property is marketed by:
Colyer Commercial Consultant Surveyors

Location

Haywards Heath is an affluent commercial centre located in the heart of Sussex. The town benefits from good communications being situated on the A272, giving easy access to the A23 (5 miles), which provides dual carriageway access northwards to the M23 (12 miles), Gatwick Airport (20 miles) the M25 (26 miles) southwards to Brighton (18 miles) and the A27 (14 miles).

The premises is located on the southern end of South Road, which is the main retail thoroughfare in the town. Nearby multiple retailers including GREGGS BAKERY, CLINTONS, BOOTS CHEMIST and FATFACE. The Orchard Shopping Centre, which is anchored by M&S is located close by.

Description

The subject property is arranged over ground floor level with the upper parts used for residential. The ground floor premises provides an open plan sales area and part of that has been carved off to provide a storage area. The shop benefits a glazed frontage with a rear kitchen/store area and W.C facilities. There is a rear yard area, which is used to house a freezer.

We have measured the property to have the following approximate net internal floor areas:

Ground Floor 70.42 sqm, 758 sq ft

Rear Kitchen 5.11 sqm, 55 sq ft

Total Ground Floor area 75.53 sqm, 818 sq ft.

Tenancy

The ground floor shop is let to Cook Trading Limited on a reversionary 10 year lease from 2nd September 2023 at a passing rent of £29,000 per annum and is subject to 5 yearly upward only rent reviews. There is a tenant only option to break the lease on the 1st September 2028. The lease is held on an effectively fully repairing and insuring basis, with the landlord recovering common expenditure on the building via a service charge.

The first and second floor has been sold off on a long leasehold interest of 150 years from 11th January 2010 on a FR & I lease and expires in 2160. The current rent is a “peppercorn”.