Offers over
£380,000
(£1,144.58/sq. ft)
Property for sale31 Ship Street, Brighton BN1
332 sq. ft
EPC Rating: A
Freehold
About this property
Guide price £380,000+
Desirable city centre location
Retail & residential investment
Recently completed new lease on the commercial element
Guide price net yield 8.04%
Estimated Rates Payable: £10603.75
Description
A mid terrace property comprising a retail unit over ground floor and basement with a 1-bedroom maisonette above. The property is fully tenanted with the commercial element having a new lease completed in March 2025. The ground floor retail unit is let by way of an internal & shop front repairing lease of 10 years ending 18th March 2035 to Brighton Creamer llp at a rent of £24,000 per annum exclusive, subject to a tenant only break option on 17th March 2030 and a rent review on 18th March 2030. The landlord holds a rent deposit of £5,500. We are advised the residential element is subject to an assured tenancy at a rent of £650 per calendar month. The combined annual rental income is £31,800 per annum.
Location
Situated on the western side of Ship Street on the edge of Brighton's famous Lanes, close to Duke Street, North Street & Union Street. Nearby occupiers include The Ivy & Ivy Asia, Pizza Pilgrims, Honest Burger & Fred Perry in addition to an array of other local and national eateries, retailers and pubs & bars.
Terms
The freehold interest is available to purchase with offers invited in excess of £380,000 for the freehold interest subject to the existing tenancies.
Aml
The normal id & proof of address will be required from all parties in the transaction.
A mid terrace property comprising a retail unit over ground floor and basement with a 1-bedroom maisonette above. The property is fully tenanted with the commercial element having a new lease completed in March 2025. The ground floor retail unit is let by way of an internal & shop front repairing lease of 10 years ending 18th March 2035 to Brighton Creamer llp at a rent of £24,000 per annum exclusive, subject to a tenant only break option on 17th March 2030 and a rent review on 18th March 2030. The landlord holds a rent deposit of £5,500. We are advised the residential element is subject to an assured tenancy at a rent of £650 per calendar month. The combined annual rental income is £31,800 per annum.
Location
Situated on the western side of Ship Street on the edge of Brighton's famous Lanes, close to Duke Street, North Street & Union Street. Nearby occupiers include The Ivy & Ivy Asia, Pizza Pilgrims, Honest Burger & Fred Perry in addition to an array of other local and national eateries, retailers and pubs & bars.
Terms
The freehold interest is available to purchase with offers invited in excess of £380,000 for the freehold interest subject to the existing tenancies.
Aml
The normal id & proof of address will be required from all parties in the transaction.
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Monthly repayment
£1,900 per month
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