Freehold Commercial Investment - Producing £14,210 Per Annum

The building forms part of a terrace on the east side of Seaside. This two storey building consists of a ground floor retail unit, with office, store room and workshop to the rear, currently let at £14,000 per annum to Riggzy Complete Kitchen Solutions LTD . There are 2 flats on the first floor which have the benefit of their own entrances to the rear. All residential elements are sold off on long leases. Situation The property is located on Seaside, the immediate vicinity is characterised by a mix of residential, retail and restaurants. Eastbourne seafront and town centre is less than a mile away. Location Pin (What3Words): meal.stated.stream https://w3w.co/meal.stated.stream NB WE DRAW YOUR ATTENTION TO THE SPECIAL CONDITIONS IN THE LEGAL PACK, REFERRING TO OTHER CHARGES IN ADDITION TO THE PURCHASE PRICE. PLEASE ENSURE YOU READ THE SPECIAL CONDITIONS THOROUGHLY Rent 241- 243 Seaside is let to Riggzy Complete Kitchen Solutions Ltd on a 10 year lease expiring 31st March 2026. Current rent £14,000 pa. Ground Rents Ground Floor Rear Coldroom and Lean-To - current rent £10 pa. First Floor Flat, 241 Seaside - current rent £100 pa doubling every 33 years. First Floor Flat, 243 Seaside - current rent £150 pa rising every 30 years £300.00/£500.00/£750.00

Lot Type

Commercial Investments

Accommodation

Retail space Office Storeroom Workshop WC Total Floor Area - 132 sq.m. Tenure Freehold Rateable Value £13,750 EPC Rating D Lease Terms Ground Floor Rear Cold Room and Lean-To 241 Seaside - 120 year lease from 29th September 1987 - 83 years remaining. First Floor Flat, 241 Seaside - 99 year lease from 29th September 1988 - 63 years remaining. First Floor Flat, 243 Seaside - 125 year lease from 5th April 2002 - 103 years remaining.

Additional Fees

Administration Charge - Purchasers will be required to pay an Administration fee of 0.5% (inc VAT) of the sale price, subject to a minimum of £1,500 (£1,250 plus VAT)

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.