Edward Street, Brighton, East Sussex, BN2 0BA
For Sale / To Let
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.
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.
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)|
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.
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 may be applicable on the terms quoted.
Each party to be responsible for their own legal costs.
£20,160 per annum (based on rateable value of £42,000). We advise you contact the local rating authority for confirmation of the amount payable.