Oakley Motor Units, Oakley House

Edward Street, Brighton, East Sussex, BN2 0BA

RETAIL SHOWROOM WITH WORKSHOP
LONG LEASEHOLD AVAILABLE

Status

For Sale / To Let

Location

The property is located in an extremely prominent landmark location on Edward Street, at its junction with Tillstone Street.

Edward Street is located just outside of the city centre of Brighton and offers a mix of commercial and residential properties.

The A23 is within easy access, providing good road links to the M23/M25 and Brighton's mainline railway station is just over 1 mile in distance.

Description

The property comprises a substantial split level unit, having a ground floor showroom with a store/workshop on the upper level, together with stores to the basement and first floor levels. The property also benefits from 4/5 car parking spaces to the rear. The property has for many years been used for a showroom for outboard engines and prior to this was used as a car dealership. The property would therefore suit a wide variety of retail/showroom/trade counter uses with the benefit of storage/workshop space to the rear.

Accommodation

The building has the following approximate floor areas:

Basement store 30.00 sq m (323 sq ft)
Ground floor showroom area 148.83 sq m (1,602 sq ft)
Upper level workshop 327.48 sq m (3,525 sq ft)
First floor store  30.00 sq m (323 sq ft)
Totals 536.31 sq m (5,773 sq ft)

Tenure

The property is available by way of a sale of the long leasehold interest. The property is held by way of a lease dated 04 June 1973 for a term of 99 years. There is an unexpired term of approximately 54 years remaining with 7 yearly rent reviews and the next review date being due on 04 June 2022. The passing rent is £10,000 per annum and future rent reviews are geared to 19.05% of the open market rent, or the higher of the rent passing.

Price

Offers are invited in the region of £650,000 for the long leasehold interest with the benefit of vacant possession. Consideration would be given to letting - terms to be agreed.

VAT

VAT may be applicable on the terms quoted.

Business Rates

£20,160, per annum, (based on rateable value of £42,000)

Legal Costs

Each party to be responsible for their own legal costs.

Energy Performance Rating

Upon enquiry

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