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For Sale

142 Western Road,
Brighton,
East Sussex,
BN1

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Investment

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Features
  • Attractive city centre investment opportunity
  • Ground floor retail unit, trading as Chaiiwala
  • 2 high spec fully fitted 2 bed flats on upper floors
  • Combined income of £94,000 per annum
  • Retail tenant on new 10-year lease
  • Offers invited in the region of £1.45 million

Location

The property is situated in a prime retailing location on the northern side of Western Road close to Churchill Square Shopping Centre. Nearby retailers include Waitrose, McDonald's, Superdrug, Cafe Nero, Primark and Marks & Spencer.

Location pin (what3words) : lifted.torch.works
https://what3words.com/lifted.torch.works

Description

Mixed use investment

Accommodation

The property is an attractive corner period building.
The retail property is arranged over the ground and lower ground floors. There are 2 x 2 bed residential flats to the upper parts, which are accessed separately via an entrance on Hampton Place.

Planning

A new Use Classes Order (UCO) came into effect on 1st September 2020. Under the new UCO a new Use Class E was introduced to cover commercial, business and service uses. Use Class E encompasses A1, A2, A3, B1 and some D1 and D2 uses under the former UCO. We therefore understand that the premises benefit from Class E 'Commercial Business and Service' use within the Use Classes Order 2020.

Interested parties should make their own planning enquiries and satisfy themselves in this regard.

VAT

Rents and prices are quoted exclusive of, but may be subject to VAT.

Legal Fees

Each party to bear their own legal costs incurred.

Terms

For sale with offers invited in the region of £1,450,000 (one million and four hundred and fifty thousand pounds).


Tenure

Freehold.

The ground floor retail unit is let to Ganesh Sai Ltd trading as Chaiiwala by way of a 10-year lease dated 02/05/2023 at a passing rent of £40,000 per annum. The lease is inside the act, with a tenant only break at year 5, with a 6-month rent deposit.

The flats are let by AST agreements. Flat 1 currently receives £2,300 pcm and Flat 2 received £2,200 pcm.

Energy Performance Rating

We understand the ground floor retail property to have an EPC rating of B (45).
Flat 1 has an EPC rating of D (64)
Flat 2 has an EPC rating of C (74)

Will Thomas

01273 740398 Email

Aaron Lees

01273 740387 Email