Offers in region of
£450,000
(£333.83/sq. ft)
Property for sale8 Church Road, Burgess Hill RH15
1,348 sq. ft
EPC Rating: D
Freehold
About this property
£450,000 For The Freehold Interest.
Comprising Fully Let Retail Unit & 2 Self Contained 1 Bedroom Flats
Desirable Mid Sussex Location
Situated Close To Station
Gross yield of 7.53%
Estimated Rates Payable: £4241.5
Description
An attractive terraced building arranged over ground, 1st & 2nd floors. The Ground floor retail unit is let to The Vapour Trail Two Ltd (08205043) with a company guarantee from the The Vapour Trail (Silverhill) Limited (11662351) by way of an effective full repairing & insuring lease from 31st of May2023 for a term of 10 years with provision for a tenant only breaks on the 3rd & 7th anniversaries & a rent review on the 5th anniversary at a rent of £15,000 pa. The lease is subject to a schedule of condition & the landlord also holds a 3 month rent deposit. On the upper floors are 2 self contained 1 bedroom flats. 8a is currently let by way of a AST from 2nd October 2023 at a rent of £850 pcm whilst 8b is let from 24 February 23 on a 12 month tenancy at a rent of £725 pcm.
Location
The property is situated in a convenient spot on the north eastern side of Church Road in Burgess Hill Town Centre close to Burgess hill Train Station situated on the London to Brighton line. Market Place shopping arcade where Waitrose, Wilkinson's & Boots are located. Other nearby occupiers include Cafe Nero, Nationwide, Specsavers & Uncle Sam's as well as a number of local independent traders.
Terms
Offers are invited for the freehold interest in the region of £450,000 with the benefit of the existing tenancies. Based on the total annual income of £33,900 a purchase at this level would produce a gross yield of 7.53%.
Beneficial Leases
All three units within the building are currently let, with an income of £33,900 per annum.
Ground Floor Retail Unit- Let to The Vapour Trail Two Ltd (08205043) by way of an effective full repairing & insuring lease from 31st of May2023 for a term of 10 years at a rent of £15,000 per annum.
First Floor, 8a- 1 bedroom flat- let on a tenancy commencing 2nd October 2023 at a rent of £850 pcm.
Second Floor, 8b- 1 bedroom flat- Let on a AST for a term of 12 months from 24 February 2023 at a rent of £725 pcm.
An attractive terraced building arranged over ground, 1st & 2nd floors. The Ground floor retail unit is let to The Vapour Trail Two Ltd (08205043) with a company guarantee from the The Vapour Trail (Silverhill) Limited (11662351) by way of an effective full repairing & insuring lease from 31st of May2023 for a term of 10 years with provision for a tenant only breaks on the 3rd & 7th anniversaries & a rent review on the 5th anniversary at a rent of £15,000 pa. The lease is subject to a schedule of condition & the landlord also holds a 3 month rent deposit. On the upper floors are 2 self contained 1 bedroom flats. 8a is currently let by way of a AST from 2nd October 2023 at a rent of £850 pcm whilst 8b is let from 24 February 23 on a 12 month tenancy at a rent of £725 pcm.
Location
The property is situated in a convenient spot on the north eastern side of Church Road in Burgess Hill Town Centre close to Burgess hill Train Station situated on the London to Brighton line. Market Place shopping arcade where Waitrose, Wilkinson's & Boots are located. Other nearby occupiers include Cafe Nero, Nationwide, Specsavers & Uncle Sam's as well as a number of local independent traders.
Terms
Offers are invited for the freehold interest in the region of £450,000 with the benefit of the existing tenancies. Based on the total annual income of £33,900 a purchase at this level would produce a gross yield of 7.53%.
Beneficial Leases
All three units within the building are currently let, with an income of £33,900 per annum.
Ground Floor Retail Unit- Let to The Vapour Trail Two Ltd (08205043) by way of an effective full repairing & insuring lease from 31st of May2023 for a term of 10 years at a rent of £15,000 per annum.
First Floor, 8a- 1 bedroom flat- let on a tenancy commencing 2nd October 2023 at a rent of £850 pcm.
Second Floor, 8b- 1 bedroom flat- Let on a AST for a term of 12 months from 24 February 2023 at a rent of £725 pcm.
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