Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
11 miles east of Worthing, 21 miles north-west Eastbourne, 52 miles south of Central London
Roads
A23, A259, A2270
Rail
Brighton Railway Station
Air
Gatwick Airport
Situation
The property is situated in a prominent location on the western sideof London Road (A23) opposite Baker Street and about 1/2 mile from the seafront. Opposite the property is Abacus House, a recently completed student housing development comprising 350 residential dwellings. Nearby retailers include Sainsbury’s, Poundworld, 99p Stores, Co-operative Supermarket, Costa, W.H. Smith, Superdrug and Ladbrokes.
Tenure
Freehold.
Location
Miles
11 miles east of Worthing, 21 miles north-west Eastbourne, 52 miles south of Central London
Roads
A23, A259, A2270
Rail
Brighton Railway Station
Air
Gatwick Airport
Situation
The property is situated in a prominent location on the western sideof London Road (A23) opposite Baker Street and about 1/2 mile from the seafront. Opposite the property is Abacus House, a recently completed student housing development comprising 350 residential dwellings. Nearby retailers include Sainsbury’s, Poundworld, 99p Stores, Co-operative Supermarket, Costa, W.H. Smith, Superdrug and Ladbrokes.
Tenure
Freehold.
Description
The property comprises ground floor retail (betting office) accommodation with a large self-contained maisonette on the first and second floors with parking for two 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 ground floor retail (betting office) accommodation with a large self-contained maisonette on the first and second floors with parking for two 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
Betting Office
120.59 sq m
(1,298 sq ft)
CORAL RACING LIMITED (1)
15 years from 20/05/2008 until 19/05/2023
£55,000
20/05/2018
Ground (part)/ First/Second
Residential – Maisonette comprising One Single Bedroom, Three Double Bedrooms, Storeroom, Reception, Kitchen, Playroom, Bathroom & WC
LORGAN HOUSING CO-OPERATIVE LIMITED (2)
5 years from 01/11/2014 until 31/10/2019 (3)
£12,000
01/11/2016 and yearly thereafter (4)
Total Commercial Area
120.59 sq m
(1,298 sq ft)
£67,500
(1) For the year ending 27th September 2014, Coral Racing Limited reported a turnover of £668,107,000, pre-tax profits of £56,703,000 and a total net worth of £153,383,000 (Source: Experian Group 11/11/2015). (2) Lorgan Housing Co-Operative Limited are a housing association and are part of Co-Operative Housing in Brighton & Hove, which is dedicated to supporting and developing co-operative housing in the Brighton & Hove area. (Source: www.chibah.org 11/11/2015) (3) The lease is subject to rolling tenant break options, subject to 3 months notice. (4) The lease is subject to annual RPI increases. N.B. The property is subject to an annual licence fee of £500 payable by the adjoining tenant (35 London Road) in respect of a right of way.
