£900,000
(£207.71/sq. ft)
Office for sale170 - 172 Church Road, Hove BN3
4,333 sq. ft
Freehold
About this property
Busy position
Description
Property comprises an end of terrace 4-storey plus basement building, benefiting from return frontage. There is also a small ground floor lock-up shop shop which is sold off on a long leasehold basis.
Location
The premises are located on the western end of Church Road, adjacent to Hove library and opposite Tesco supermarket. Church Road is a thriving commercial thoroughfare which includes all the major banks, numerous restaurants and bars and a selection of single and multiple retailers along with a wide variety of office occupiers.
Tenure
The property is available by way of a sale of the freehold interest, subject to the existing tenancies.
Tenancies
The main part ground floor and basement is let to Mansell McTaggart Hove Ltd by way of a 10 year lease from 14 August 2024 at the current rent of £35,000 per annum exclusive. There is a tenant break clause in August 2027.
The rear ground floor access and upper parts are let to the Phoenix Theatre Company on a 5 year lease from Dec 2023 at a rent of £35,000 per annum exclusive. A 3 month rent deposit is held.
The small ground floor shop at 172 Church Road is subject to a 125 year lease from March 1980 producing a ground rent of £10 per annum.
The total income is £70,010 per annum.
VAT
VAT may be applicable on the terms quoted.
Legal Costs
Each party to be responsible for their own legal costs.
Property comprises an end of terrace 4-storey plus basement building, benefiting from return frontage. There is also a small ground floor lock-up shop shop which is sold off on a long leasehold basis.
Location
The premises are located on the western end of Church Road, adjacent to Hove library and opposite Tesco supermarket. Church Road is a thriving commercial thoroughfare which includes all the major banks, numerous restaurants and bars and a selection of single and multiple retailers along with a wide variety of office occupiers.
Tenure
The property is available by way of a sale of the freehold interest, subject to the existing tenancies.
Tenancies
The main part ground floor and basement is let to Mansell McTaggart Hove Ltd by way of a 10 year lease from 14 August 2024 at the current rent of £35,000 per annum exclusive. There is a tenant break clause in August 2027.
The rear ground floor access and upper parts are let to the Phoenix Theatre Company on a 5 year lease from Dec 2023 at a rent of £35,000 per annum exclusive. A 3 month rent deposit is held.
The small ground floor shop at 172 Church Road is subject to a 125 year lease from March 1980 producing a ground rent of £10 per annum.
The total income is £70,010 per annum.
VAT
VAT may be applicable on the terms quoted.
Legal Costs
Each party to be responsible for their own legal costs.
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