£375,000
(£551.47/sq. ft)
Retail premises for sale22 Cliffe High Street, Lewes, East Sussex BN7
680 sq. ft
Freehold
About this property
Situated on a Prime Thoroughfare
Erv of £30,000 for the Ground Floor
Flat is Sold Off on a Long Lease
Potential to Convert the Ground Floor into Two Retail Units (STP)
Estimated Rates Payable: £9537.75
Location
Lewes is the county town of East Sussex, nestled within the South Downs National Park, with a direct fast train service to London. The town offers an excellent range of shops including Costa Coffee, Boots, two prime supermarkets, Waitrose, and Tesco, along with a variety of independent medieval and Georgian high street shops. Additionally, Lewes offers a wide range of popular cafés, old inns, and restaurants as well as a farmer's market held the first weekend of every month. High quality sports facilities including pool, track and tennis courts, as well as County and Regional teams representing Football, Rugby, Cricket and Hockey, offering great opportunities for adults and children alike, all within easy walking distance of the property. Highly regarded primary schools are an easy walk as are Priory Secondary School, Sussex Downs College and Lewes Old Grammar School.
Description
The subject property is arranged over two floors, with the first floor flat being sold off on a long lease. The ground floor retail premises are let to Oxfam and consist of two shops, which have been combined into one but potentially, if the property became vacant, these can be converted back into two premises again. In our opinion, the rental income could be improved and our estimation is that it would fall in the region of £30,000pax.
Price
Offers are invited in the region of £375,000 for the freehold interest.
Tenure Comments
Freehold investment
Rent
The shop is currently let to Oxfam for a term of 5 years from 2021, at a current rental of £20,000 per annum, exclusive.
EPC
The property has an EPC rating of C - 58.
VAT
We are informed that VAT is applicable on the terms quoted.
Use
We understand the premises benefit from Class E use however, we would advise any potential tenant to check with the Planning Department to ascertain if their use is permitted.
Legal Fees
Each party is responsible for their own legal fees in this transaction.
Viewing
Strictly by appointment with Sole Agents, Jacobs Steel.
Lewes is the county town of East Sussex, nestled within the South Downs National Park, with a direct fast train service to London. The town offers an excellent range of shops including Costa Coffee, Boots, two prime supermarkets, Waitrose, and Tesco, along with a variety of independent medieval and Georgian high street shops. Additionally, Lewes offers a wide range of popular cafés, old inns, and restaurants as well as a farmer's market held the first weekend of every month. High quality sports facilities including pool, track and tennis courts, as well as County and Regional teams representing Football, Rugby, Cricket and Hockey, offering great opportunities for adults and children alike, all within easy walking distance of the property. Highly regarded primary schools are an easy walk as are Priory Secondary School, Sussex Downs College and Lewes Old Grammar School.
Description
The subject property is arranged over two floors, with the first floor flat being sold off on a long lease. The ground floor retail premises are let to Oxfam and consist of two shops, which have been combined into one but potentially, if the property became vacant, these can be converted back into two premises again. In our opinion, the rental income could be improved and our estimation is that it would fall in the region of £30,000pax.
Price
Offers are invited in the region of £375,000 for the freehold interest.
Tenure Comments
Freehold investment
Rent
The shop is currently let to Oxfam for a term of 5 years from 2021, at a current rental of £20,000 per annum, exclusive.
EPC
The property has an EPC rating of C - 58.
VAT
We are informed that VAT is applicable on the terms quoted.
Use
We understand the premises benefit from Class E use however, we would advise any potential tenant to check with the Planning Department to ascertain if their use is permitted.
Legal Fees
Each party is responsible for their own legal fees in this transaction.
Viewing
Strictly by appointment with Sole Agents, Jacobs Steel.
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