Situated on the south side of Church Road the property occupies a prime corner position within Hove. Well established businesses including, Subway, Thomas Cook, HSBC, Pizza Express, Giggling Squid, closeby walking distance from the seafront and Hove station.
The property comprises an open plan ground floor corner shop with return frontage, rear storage/office space, kitchentte and W.C. Basement storage space, with the added benifit of off road parking for two cars.
The current occupier Boots UK Ltd lease expires on 18th March 2018 and they will be vacating.
The first and second floor office space which has seperate access at the rear is let on an FRI basis to Brightwire Office Solutions Ltd who have agreed a reversionary lease for a term of 16 years from 7th April 2019.
The current passing rent is £15,750pa which is due to increase to £17,250pa in April 2018, from 7th April 2019 (the commencement date of the reversionary lease) the rent will increase to £18,000pa with an open market rent review in April 2023 and 4 yearly thereafter.
* Basement Stores – 390.59sq.ft
* Ground Floor Retail – 1,397.72sq.ft
* 1st Floor Offices – 760sq.ft
* 2nd Floor Offices – 736sq.ft
Offers are invited in excess of £750,000 for the freehold interest in the property, with vacant possession of the ground floor and basement from March 2018, subject to the lease in respect of the upper floors.
We are advised that the ground floor retail unit has a rateble value of £45,500. Interested parties are advised to contact the local authority to confirm the rates payable.
Each party will be responsible for their own costs incurred in relation to the transaction.
EPC’s are available for interested parties to view on request.
May be chargeable on this transaction, interested parties must make their own enquiries to confirm.
Strictly by appointment with SOLE AGENTS, PARSONS SON AND BASLEY
- Central Hove Location
- Off Road Parking for 4x cars
- Rare Unbroken Freehold
- Income Producing Investment