Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
3 miles north of Eastbourne town centre, 22 miles east of Brighton, 72 miles south of London
Roads
A22, A27, A259
Rail
Hampton Park Rail
Air
London Gatwick Airport
Situation
The property is situated in a prominent corner location on the western side of Lindfield Road, to the north of Eastbourne town centre and close to The Broadway shopping parade.
Tenure
Freehold.
Location
Miles
3 miles north of Eastbourne town centre, 22 miles east of Brighton, 72 miles south of London
Roads
A22, A27, A259
Rail
Hampton Park Rail
Air
London Gatwick Airport
Situation
The property is situated in a prominent corner location on the western side of Lindfield Road, to the north of Eastbourne town centre and close to The Broadway shopping parade.
Tenure
Freehold.
Description
The property comprises a ground floor convenience store with first floor ancillary accommodation. The property benefits from an approximate site area of 0.23 hectares (0.57 acres), providing onsite
parking for some 23 cars.
Six Week Completion
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor convenience store with first floor ancillary accommodation. The property benefits from an approximate site area of 0.23 hectares (0.57 acres), providing onsite
parking for some 23 cars.
Six Week Completion
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground First
Retail Ancillary
368 sq m Not Measured
(3,961 sq ft) Not Measured
THE SOUTHERN COOPERATIVE LTD (1) (t/a The Co-operative Food) (2)
15 years from 06/10/2014 until 05/10/2029 on a full repairing and insuring lease
£60,000
05/10/2019 and 05/10/2024 (3)
Totals
368 sq m
(3,961 sq ft)
£60,000 rising to a minimum of £63,060 pa in 2019 and £66,277 pa in 2024
(1) For the year ending January 2015, The Southern Co-operative Ltd reported a turnover of £350,505,000, pre-tax profits of £2,366,000 and a total net worth of £89,291,000. (Source: www.riskdisk.com 15/09/2015) (2)The Co-operative Group is the UK’s fifth biggest food retailer, operating across the country with almost 2,800 local, convenience and medium-size stores. (Source: www.co-operative.com 15/09/2015) (3) The rent reviews are linked to the Retail Price Index to a minimum of 1% and a maximum of 4% compounded per annum. The rent will therefore increase to a minimum of £63,060 pa in October 2019 and £66,277 pa in October 2024.
