16 - 20 South Street Eastbourne East Sussex BN21 4XF

16 - 20 South Street
Eastbourne
East Sussex
BN21 4XF

Freehold Retail and Residential Investment

  • Three Retail Units with Four Residential Flats
  • Located within the vibrant Little Chelsea Shopping and Dining Quarter
  • Close to Eastbourne Town Centre
  • Tenants trading as South Street Cellar, On Trend and Pannarai Therapy
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    8
  • Auction
    8th December 2016
  • Rent
    £36,500 per Annum Exclusive
  • Status
    Sold
  • Price
    £350,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Update
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* More information on the term "guide" can be found here

Freehold Retail and Residential Investment

  • Three Retail Units with Four Residential Flats
  • Located within the vibrant Little Chelsea Shopping and Dining Quarter
  • Close to Eastbourne Town Centre
  • Tenants trading as South Street Cellar, On Trend and Pannarai Therapy
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 8
  • Auction 8th December 2016
  • Rent
  • Status Sold
  • Price £350,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
22 miles east of Brighton, 62 miles south of London
Roads
A259, A22
Rail
Eastbourne Rail
Air
London Gatwick
Situation

The property is located on the southern side of South Street within the vibrant town centre area of Little Chelsea, a shopping and dining quarter boasting a number of independent businesses
specialising in art, interior design, antiques, designer clothes and jewellery, food, drink, music and bookshops.

Tenure

Freehold.

Location
Miles
22 miles east of Brighton, 62 miles south of London
Roads
A259, A22
Rail
Eastbourne Rail
Air
London Gatwick
Situation

The property is located on the southern side of South Street within the vibrant town centre area of Little Chelsea, a shopping and dining quarter boasting a number of independent businesses
specialising in art, interior design, antiques, designer clothes and jewellery, food, drink, music and bookshops.

Tenure

Freehold.

Description

The property comprises three retail units with four residential flats above let on long leases

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises three retail units with four residential flats above let on long leases

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Reversion
16 Ground/
Basement
Retail
98.01 sq m
(1,055 sq ft)
SOUTH ST CELLAR
LIMITED
5 years from 11/05/2016 £12,500 10/05/2021
18 Ground/
Basement
Retail
80.36 sq m
(865 sq ft)
ON TREND
BOUTIQUE LIMITED
(t/a On Trend)
6 years
from 27/09/2016 (1)
£12,000 26/09/2022
20 Ground/
Basement
Retail
86.40 sq m
(930 sq ft)
INDIVIDUALS
(t/a
Pannarai Therapy)
5 years
from 29/06/2016
£12,000 28/06/2021
Beaumont House
- Flat 1
  Residential
INDIVIDUALS 125 years from
25/12/2004
  24/12/2129
Beaumont House
- Flat 2
  Residential
INDIVIDUAL 125 years from
25/12/2004
  24/12/2129
Beaumont House
- Flat 3
  Residential
INDIVIDUAL 125 years from
03/06/2005
  02/06/2130
Beaumont House
- Flat 4
  Residential
INDIVIDUAL 125 years from
03/06/2005
  02/06/2130
Total    
264.77 sq m
(2,850 sq ft)
    £36,500  

N.B. The seller has served notices on the residential lessees under Section 5B of the Landlord and Tenant Act 1987.
(1) The lease provides an option to determine on 28/09/2019. The tenant is currently benefitting from a 6 month rent free period. The seller has agreed to adjust the completion monies so that the unit effectively produces £12,000 per annum exclusive from completion of the sale.

Property Documents

  • Catalogue Page
    Updated Date
    29.10.19
    File Size
    649 KB
    View PDF
  • Site Plan
    Updated Date
    29.10.19
    File Size
    50 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Seller's Solicitors
Eversheds LLP 1 Callaghan Square
Cardiff
CF10 5BT
029 2046 4347
David Farmer 029 2047 7887davidfarmer@eversheds.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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