Property for sale in 195 - 201 Church Road, Hove

Property - £1,250,000

195 - 201 Church Road, Hove

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First listed on: 16th October 2018

Interested in this property? Call See phone number 01273 601060

Property Features

  • Freehold Commercial Investment
  • Residential Upper Parts (sold off)
  • Prominent Corner Location - Central Hove
  • Attractive Yield

Property Description

An opportunity to acquire a freehold commercial property investment of an impressive corner block comprising a number of established local traders and one vacant unit, which can be leased or owner occupied. The residential upper parts have been sold producing a ground rent income of £100pa each / £600pa.. PROPERTY DETAILS Retail with Residential Upper Parts (sold off)


2500 sq ft


(232.26 m2) TENANTS 195 - currently occupied by the Hove Bathroom centre - www.hbcforbathrooms.com 197 - currently occupied by Bertie & Belle hairdressers - www.bertieandbelle.co.uk 199 - currently occupied by the Drury cafe - www.drurycafe.co.uk/church-road 201 - currently vacant with an estimated rental value (ERV) of £27,500 per annum, exclusive LEASE INFORMATION 195 - leased to the Hove Bathroom Centre Ltd for a term of 10 years from 20th July 2015 at a current rent of £30,000 per annum, exclusive. Tenant only break clause 20th July 2020. There is a Personal guarantee on the lease. 197 - leased to B & B Kids Cuts Ltd t/a Bertie and Belle for a term of 5 years from 5th December 2014 at a rent of £12,000 per annum, exclusive. There is a tenant Rent Deposit held. (the lease is outside the provisions of the LTA 1954 sections 24 to 28) 199 - leased to the Drury Southern Ltd for a term of 5 years from 23rd December 2014 at a rent of £20,000 per annum, exclusive. There is a Rent Deposit held. (the lease is outside the provisions of the LTA 1954 sections 24 to 28) 201 - currently vacant with an estimated rental value of £27,500 per annum, exclusive. Total Rental Income (if fully let) £89,500 per annum, exclusive. TERMS Offers are invited on a guide price of £1,250,000 (one million, two hundred and fifty thousand pounds) for the freehold interest and subject to the existing commercial tenancies and ground rent income from the residential upper parts. A purchase at this level would reflect a Net Initial Yield after standard purchaser costs of 6.8%.
An opportunity to acquire a freehold commercial property investment of an impressive corner block comprising a number of established local traders and one vacant unit, which can be leased or owner occupied. The residential upper parts have been sold producing a ground rent income of £100pa each / £600pa.. PROPERTY DETAILS Retail with Residential Upper Parts (sold off)


2500 sq ft


(232.26 m2) TENANTS 195 - currently occupied by the Hove Bathroom centre - www.hbcforbathrooms.com 197 - currently occupied by Bertie & Belle hairdressers - www.bertieandbelle.co.uk 199 - currently occupied by the Drury cafe - www.drurycafe.co.uk/church-road 201 - currently vacant with an estimated rental value (ERV) of £27,500 per annum, exclusive LEASE INFORMATION 195 - leased to the Hove Bathroom Centre Ltd for a term of 10 years from 20th July 2015 at a current rent of £30,000 per annum, exclusive. Tenant only break clause 20th July 2020. There is a Personal guarantee on the lease. 197 - leased to B & B Kids Cuts Ltd t/a Bertie and Belle for a term of 5 years from 5th December 2014 at a rent of £12,000 per annum, exclusive. There is a tenant Rent Deposit held. (the lease is outside the provisions of the LTA 1954 sections 24 to 28) 199 - leased to the Drury Southern Ltd for a term of 5 years from 23rd December 2014 at a rent of £20,000 per annum, exclusive. There is a Rent Deposit held. (the lease is outside the provisions of the LTA 1954 sections 24 to 28) 201 - currently vacant with an estimated rental value of £27,500 per annum, exclusive. Total Rental Income (if fully let) £89,500 per annum, exclusive. TERMS Offers are invited on a guide price of £1,250,000 (one million, two hundred and fifty thousand pounds) for the freehold interest and subject to the existing commercial tenancies and ground rent income from the residential upper parts. A purchase at this level would reflect a Net Initial Yield after standard purchaser costs of 6.8%.
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Listed prices are those submitted to us and may not reflect the actual selling price of this property.

Date History Details
17/10/2018 Property listed at £1,250,000

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Disclaimer

Disclaimer Property reference 13216BN1_sale_27474448_S. Details are provided and maintained by Graves Jenkins. Nethouseprices.com makes no warranty as to the accuracy or completeness of aforementioned details.

This property is marketed by

1 North Road

Brighton

BN1 1YA

Telephone: See phone number 01273 601060

Arrange Viewing Arrange Viewing with Agent

Disclaimer

Disclaimer Property reference 13216BN1_sale_27474448_S. Details are provided and maintained by Graves Jenkins. Nethouseprices.com makes no warranty as to the accuracy or completeness of aforementioned details.

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This property is marketed by

1 North Road

Brighton

BN1 1YA

Telephone: See phone number 01273 601060

Arrange Viewing Arrange Viewing with Agent

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