Hove, BN3 5LP
The subject property is situated in a shopping parade on the southern side of Portland Road, a busy commercial thoroughfare between Hove and Portslade. Surrounding uses are a mix of retail units on the ground floor with residential above and opposite.
The premises comprise the following approximate net internal floor areas:
|Description||Sq ft||Sq m|
|Ground floor - launderette||571||53.05|
|Garages at rear||285||26.48|
The property comprises a 3 storey mid-terrace building with launderette on the ground floor and a residential maisonette sold off over with a rear store and 2 single garages accessed from the rear.
The launderette is let to McCanns Launderettes Ltd with 2 named guarantors by way of a 12 year lease from 4 April 2011 at an annual rent of £8,250 per annum.
The two flats on first and second floors will be subject to new 125 year leases with £200 per annum ground rents doubling every 25 years.
The 2 garages are let on 12 month tenancies to individuals. The left hand garage is let at £780 per annum and the right hand garage at £900 per annum, payable monthly. Total income will be £10,330 per annum.
VAT is not applicable on the terms quoted.
Each party to be responsible for their own legal costs.
£150,000.00 Offers for the freehold interest are invited in the region of. with the benefit of the existing tenancies.
This property has been set as EPC exempt.
Reason: EPC has been commissioned, will be available in less than 28 days