Commercial property for sale in Queens Road, Brighton BN1, £1,200,000
1,200,000.00
Offer Nr.:
63513713
Type of ad:
for Sale
Property type:
Commercial property
Contact name:
Eightfold Property - Brighton
Phone(s):
01273 434347
Email:
* Freehold
**Key Points**
* Freehold £1, 200, 000
* Located in brighton city centre
* Let to mountain warehouse limited
* Income £86, 800 pa
* Net yeild of 6.83%
**Description**
Developed in approximately 2015 the building comprises a retail unit arranged
over ground floor, 1st floor & basement let to Mountain WarehouseLimited .
The upper floors comprise 9 residential apartments that are sold off by way
125 year leases from 2006 paying ground rents of £200 per annum which double
every25 years of the term. There is also a further building located at 10
Windsor Street which has been sold off by way of a 999 year lease at a
peppercorn ground rent. In theyear ending February 2022 Mountain Warehouse
Limited had a Turnover of £302, 564, 000 & had an ebitda of £10, 918, 000, whilst
showing Net Assets of £122, 298, 000.
**Location**
The property occupies a prime position on Queens Road close to the junction of
North Street and South of Brighton's main line station. Nearbyoccupiers
include Boots, Run Company, Yi Fang Bubble Tea, Evans Cycles, itsu and
Trespass. Churchill Square is approximately 100 metres to the south with
BrightonSeafront a little further beyond that and Brighton's Lanes a short
walk to the east.
**Terms**
Based on a purchase price of £1, 200, 000 a purchase at this level wouldshow a
blended net yield of 6. 83% after allowance of purchasers costs at 5. 92%
**Income & Tenancies**
Retail 126 - 127 Queens Road £85, 000 pa - Let to MountainWarehouse Limited on
an efri lease for a term of 5 years from December 2022.
Residential ground rents £200 x 9 = £1, 800 pa - 9 x residential flats sold off
on 125year leases from 2006.
Total Income £86, 800 pa
**Key Points**
* Freehold £1, 200, 000
* Located in brighton city centre
* Let to mountain warehouse limited
* Income £86, 800 pa
* Net yeild of 6.
**Description**
Developed in approximately 2015 the building comprises a retail unit arranged
over ground floor, 1st floor & basement let to Mountain Warehouse
The upper floors comprise 9 residential apartments that are sold off by way
125 year leases from 2006 paying ground rents of £200 per annum which double
every
Windsor Street which has been sold off by way of a 999 year lease at a
peppercorn ground rent. In the
Limited had a Turnover of £302, 564, 000 & had an ebitda of £10, 918, 000, whilst
showing Net Assets of £122, 298, 000.
**Location**
The property occupies a prime position on Queens Road close to the junction of
North Street and South of Brighton's main line station. Nearby
include Boots, Run Company, Yi Fang Bubble Tea, Evans Cycles, itsu and
Trespass. Churchill Square is approximately 100 metres to the south with
Brighton
walk to the east.
**Terms**
Based on a purchase price of £1, 200, 000 a purchase at this level would
blended net yield of 6. 83% after allowance of purchasers costs at 5. 92%
**Income & Tenancies**
Retail 126 - 127 Queens Road £85, 000 pa - Let to Mountain
an efri lease for a term of 5 years from December 2022.
Residential ground rents £200 x 9 = £1, 800 pa - 9 x residential flats sold off
on 125
Total Income £86, 800 pa
Property location on the map: Use mouse double click to (Zoom IN: LEFT button; Zoom OUT: RIGHT button)
Similar properties:
