671.00 sqft For Sale
The property comprises a period Grade II Listed building constructed over two floors within the Hailsham conservation area. Externally the property has rough rendered elevations under a pitched original clay tile roof. There is a small rear yard and rear access. To the front the property is accessed by two entrance doors with direct access into the premises. Internally the property has some exposed beams and open fireplaces which are clearly original features and due to the age of the building ceilings are low which provides character for the current restaurant/sandwich bar use. The first floor is accessed via an internal staircase and provides a large one bedroom flat occupied by the current tenant.
The property is let on a 10 year fully repairing and insuring lease from 27th November 2013 at a current rental of £13,000 which we consider reversionary to a minimum of £15,000.
The premises provide the following accommodation:
Sandwich Bar Area
107 sq ft (9.94 sq m)
Restaurant Area 1
112 sq ft (10.40 sq m)
Restaurant Area 2
164 sq ft (15.23 sq m)
224 sq ft (20.80 sq m)
64 sq ft (5.94 sq m)
Large Open Landing/Study Area
(Accessed only through bedroom)
Freehold subject to existing lease
£215,000 Freehold, subject to the existing tenancy agreement representing a net initial yield of 5.75% (after costs of 5%) and a reversionary yield of approximately 6.2%.
£7,000 (subject to transitional relief or charges that may be applicable)
Council Tax A
Each party is to be responsible for their own legal costs
No electrical, gas or other equipment, appliances or installations have been tested. In-going occupants must make their own enquiries
Under the Finance Act 1989 VAT may now be charged on rent or purchase prices. It is recommended that prospective tenants/purchasers make their own enquiries to establish whether or not VAT is chargeable prior to entering into an agreement.
Contact Amanda or Jackie on 01323 841814 firstname.lastname@example.org email@example.com