Prime Freehold Investment For Sale in Hove, East Sussex, BN3

This property is marketed by:
Bonsors / SHW

Key Features

• Western Road is one of the city's principal retail thoroughfares
• The two ground floor shops and their lower ground floors have been let to Cambridge Brand Vaughan Limited.
• Let on a single effective full repairing and insuring lease until 2035 with an upwards only rent review at 25/12/2030
• Well established tenant that has traded from this building from 2017
• Let until September 2035
• Passing rent of £46,000 per annum exclusive
• Offers invited in excess of £545,000. A purchase at this level shows a net initial yield of 8.05%, after normal purchaser's costs

Description

An attractive, double retail unit in an end of terrace building arranged over basement, ground, first, second and third floors.

Location

Western Road is one of the city’s principal retail thoroughfares, linking Brighton city centre with Church Road, the main shopping thoroughfare in Hove. The property occupies a prominent position on the Northern side of Western Road and benefits from high levels of footfall from local residents, visitors and professionals. Brighton railway station is located approximately 0.8 miles to the north-east, providing regular services to London Victoria, London Bridge, Gatwick Airport and along the south coast. The A259 coast road offers direct access to Worthing and Eastbourne, while the A23 connects to the M23 and the national motorway network. Nearby occupiers on Western Road include a mix of well-known national multiples and independent retailers, such as Real Patisserie, Farrow & Ball, Trading Post Coffee Roasters, Waitrose, Starbucks and Marks & Spencer, alongside a range of restaurants, cafés and indipendnat businesses including Archipalagos, Wine Barrel, Palmito, Dharma Coffee, The Paris House.