guide price: £275000-£295000 freehold
FOR SALE BY PUBLIC AUCTION
19 SEASIDE, EASTBOURNE, BN22 7NB
GUIDE PRICE: £275,000-£295,000 FREEHOLD * Freehold Mixed Investment Arranged as Ground Floor/Lower Ground Floor Retail Premises with Residential Upper Parts Producing £24,720 Per Annum * Sought After Location Close to Town Centre and Seafront *
19 Seaside, Eastbourne, BN22 7NB LOCATION Situated on the east side of Seaside which runs parallel to Grand Parade and the seafront. The town centre with its comprehensive shopping facilities, including the Arndale Shopping Centre, and the mainline railway station are within walking distance.
DESCRIPTION This mid-terraced property is arranged over five floors and consists of ground floor and basement retail premises currently trading as a newsagent with four self-contained studio apartments above with 2 x communal shower rooms. The residential units are all currently let to the YMCA Downslink Group on a 5 year lease at £18,720 per annum. The retail premises are let on a new 5 year lease from 3rd February 2017 on full repairing and insuring terms at a passing rent of £6,000 Per Annum. At present the property produces approximately £24,720 per annum. Auctioneer Notes: Our client advises that the adjoining property number 17 was formerly a Post Office and that planning permission was obtained for its conversion into a residential unit by him. Therefore there is potential, once vacant possession has been obtained to convert the ground floor and basement into additional residential units (subject to necessary consents). ACCOMMODATION GROUND FLOOR RETAIL UNIT:
6.7m x 4.6m.
BASEMENT:
6.5m x 6.1m (max measurements with access to the rear of the property)
FIRST FLOOR LANDING:
Built-in cupboard housing meters.
STUDIO 1:
5.4m x 4m (into bay). Kitchen area, radiator
2 x COMMUNAL SHOWER ROOMS:
Comprising shower cubicle with electric shower, wash basin with vanity cupboard, low level WC, heated towel rail.
STORAGE CUPBOARD:
Housing communal washing machine
SECOND FLOOR STUDIO 2:
3.7m x 3.2m. Kitchen area, radiator
STUDIO 3:
5.4m x 3.2m. Kitchen area, radiator, built-in cupboard
THIRD FLOOR STUDIO 4: (INTO EAVES)
5m x 3.5m. Kitchen area, radiator, built-in cupboard.
TENANCY SCHEDULE Unit:
Area
Rental Status
Retail Unit
Ground Floor and Basement
FRI Lease, tenants service charge proportion 50%. Landlord only break at any time. Security of tenure excluded and outside of the 1954 Landlord and tenant act.
Residential Upper Parts TOTAL
First, Second, Third Floors
Tenancy StartEnd Dates 03/02/2017 – 03/02/2022
5 years from 1st June 2016
Rent £6,000 Per Annum, rising to £6,500 in 2019
£18,720 Per Annum £24,720 Per Annum
TENURE: Freehold, subject to existing tenancies GUIDE PRICE: £275,000-£295,000 FREEHOLD SOLICITORS: ODT Solicitors, 4th Floor Offices, Pavilion View, 19 New Road, Brighton, BN1 1UF Tel: 01273 710 712 Contact: Lawrence Gibbons
* Guide Prices & Reserves Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide. VIEWING: BY APPOINTMENT THROUGH PARSONS SON & BASLEY, TEL: 01273 274014 THE PROPERTY MISDESCRIPTIONS ACT 1991
The Agent has not tested any apparatus, equipment, fixtures and fittings or services and so cannot verify that they are in working order or fit for the purpose. A Buyer is advised to obtain verification from their Solicitor or Surveyor. References to the Tenure of a Property are based on information supplied by the Seller. The Agent has not had sight of the title documents. A Buyer is advised to obtain verification from their Solicitor. Items shown in photographs are NOT included unless specifically mentioned within the sale particulars. They may however be available by separate negotiation. Buyers must check the availability of any property and make an appointment to view before embarking on any journey to see a property. DATA PROTECTION ACT 1998 Please note that all personal information provided by customers wishing to receive information and/or services from the estate agent will be processed by the estate agent, for the purpose of providing services associated with the business of an estate agent and for the additional purposes set out in the privacy policy, copies available on request but specifically excluding mailings or promotions by a third party. If you do not wish your personal information to be used for any of these purposes, please notify your estate agent.
19 SEASIDE, EASTBOURNE, BN22 7NB
GUIDE PRICE: £275,000-£295,000 FREEHOLD * Freehold Mixed Investment Arranged as Ground Floor/Lower Ground Floor Retail Premises with Residential Upper Parts Producing £24,720 Per Annum * Sought After Location Close to Town Centre and Seafront *
19 Seaside, Eastbourne, BN22 7NB LOCATION Situated on the east side of Seaside which runs parallel to Grand Parade and the seafront. The town centre with its comprehensive shopping facilities, including the Arndale Shopping Centre, and the mainline railway station are within walking distance.
DESCRIPTION This mid-terraced property is arranged over five floors and consists of ground floor and basement retail premises currently trading as a newsagent with four self-contained studio apartments above with 2 x communal shower rooms. The residential units are all currently let to the YMCA Downslink Group on a 5 year lease at £18,720 per annum. The retail premises are let on a new 5 year lease from 3rd February 2017 on full repairing and insuring terms at a passing rent of £6,000 Per Annum. At present the property produces approximately £24,720 per annum. Auctioneer Notes: Our client advises that the adjoining property number 17 was formerly a Post Office and that planning permission was obtained for its conversion into a residential unit by him. Therefore there is potential, once vacant possession has been obtained to convert the ground floor and basement into additional residential units (subject to necessary consents). ACCOMMODATION GROUND FLOOR RETAIL UNIT:
6.7m x 4.6m.
BASEMENT:
6.5m x 6.1m (max measurements with access to the rear of the property)
FIRST FLOOR LANDING:
Built-in cupboard housing meters.
STUDIO 1:
5.4m x 4m (into bay). Kitchen area, radiator
2 x COMMUNAL SHOWER ROOMS:
Comprising shower cubicle with electric shower, wash basin with vanity cupboard, low level WC, heated towel rail.
STORAGE CUPBOARD:
Housing communal washing machine
SECOND FLOOR STUDIO 2:
3.7m x 3.2m. Kitchen area, radiator
STUDIO 3:
5.4m x 3.2m. Kitchen area, radiator, built-in cupboard
THIRD FLOOR STUDIO 4: (INTO EAVES)
5m x 3.5m. Kitchen area, radiator, built-in cupboard.
TENANCY SCHEDULE Unit:
Area
Rental Status
Retail Unit
Ground Floor and Basement
FRI Lease, tenants service charge proportion 50%. Landlord only break at any time. Security of tenure excluded and outside of the 1954 Landlord and tenant act.
Residential Upper Parts TOTAL
First, Second, Third Floors
Tenancy StartEnd Dates 03/02/2017 – 03/02/2022
5 years from 1st June 2016
Rent £6,000 Per Annum, rising to £6,500 in 2019
£18,720 Per Annum £24,720 Per Annum
TENURE: Freehold, subject to existing tenancies GUIDE PRICE: £275,000-£295,000 FREEHOLD SOLICITORS: ODT Solicitors, 4th Floor Offices, Pavilion View, 19 New Road, Brighton, BN1 1UF Tel: 01273 710 712 Contact: Lawrence Gibbons
* Guide Prices & Reserves Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide. VIEWING: BY APPOINTMENT THROUGH PARSONS SON & BASLEY, TEL: 01273 274014 THE PROPERTY MISDESCRIPTIONS ACT 1991
The Agent has not tested any apparatus, equipment, fixtures and fittings or services and so cannot verify that they are in working order or fit for the purpose. A Buyer is advised to obtain verification from their Solicitor or Surveyor. References to the Tenure of a Property are based on information supplied by the Seller. The Agent has not had sight of the title documents. A Buyer is advised to obtain verification from their Solicitor. Items shown in photographs are NOT included unless specifically mentioned within the sale particulars. They may however be available by separate negotiation. Buyers must check the availability of any property and make an appointment to view before embarking on any journey to see a property. DATA PROTECTION ACT 1998 Please note that all personal information provided by customers wishing to receive information and/or services from the estate agent will be processed by the estate agent, for the purpose of providing services associated with the business of an estate agent and for the additional purposes set out in the privacy policy, copies available on request but specifically excluding mailings or promotions by a third party. If you do not wish your personal information to be used for any of these purposes, please notify your estate agent.
