111 Western Road Brighton East Sussex BN1 2AB

111 Western Road
Brighton
East Sussex
BN1 2AB

Freehold Retail and Residential Investment

Situated some 300 metres from Brighton beach in an affluent residential square
Ground and basement let until 2023
Residential refurbishment opportunity on upper floors
Busy city centre location with nearby occupiers including Waitrose, The Duke of Norfolk Public House and numerous local restaurant operators
Six weeks completion available

Lot
28
Auction
9th December 2010
Rent
£41,600 per Annum Exclusive
Status
Sold Post
Price
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP

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Freehold Retail and Residential Investment

Situated some 300 metres from Brighton beach in an affluent residential square
Ground and basement let until 2023
Residential refurbishment opportunity on upper floors
Busy city centre location with nearby occupiers including Waitrose, The Duke of Norfolk Public House and numerous local restaurant operators
Six weeks completion available

Lot 28
Auction 9th December 2010
Rent £41,600 per Annum Exclusive
Status Sold Post
Price
Sector
High Street Retail
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP

Property Information

Location

22 miles south of Crawley; 53 miles south of London
Roads: A27, A23, A270, A259, M23
Rail: Brighton Railway Station (55 minutes to London Victoria)
Air: London Gatwick (22 miles)

Situation

The property is situated in a prominent corner location on the southern side of Western Street, at its junction with Norfolk Square and approximately 300 metres north of Brighton beach. Nearby occupiers include Waitrose, The Duke of Norfolk Public House and numerous local restaurant operators.

Tenure

Freehold.

Location

22 miles south of Crawley; 53 miles south of London
Roads: A27, A23, A270, A259, M23
Rail: Brighton Railway Station (55 minutes to London Victoria)
Air: London Gatwick (22 miles)

Situation

Tenure

Freehold.

Description

The property comprises a GROUND FLOOR BAR AND RESTAURANT with KITCHEN, STAFF and ANCILLARY ACCOMMODATION in the basement.The RESIDENTIAL FLATS on the first and second floors benefit from self-contained access from Norfolk Square. The first floor flat is currently occupied while the second floor flat comprising a former kitchen, bathroom and three rooms is unoccupied and in need of refurbishment.

VAT

VAT is not applicable to this lot.

EPC

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

Description

VAT

VAT is not 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 Basement	Cafe/Bar Office/Ancillary	98.24 sq m 99.55 sq m	(1,057 sq ft) (1,072 sq ft)	INDIVIDUAL (t/a Atlas Lounge) (2)	25 years from 19/03/1998 until 18/03/2023 on a full repairing and insuring lease	£32,000	19/03/2008 and 5 yearly
First (1A)	Residential	Not Measured		INDIVIDUALS	Assured Shorthold Tenancy from 19/05/2009 until 30/07/2009 (3)	£9,600
Second (1B)	Residential	Not Measured		VACANT
Totals		197.79 sq m	(2,129 sq ft)			£41,600

(1) Please note, the areas were measured on a gross internal basis. (2) Atlas Lounge is a café/bar open 7 days a week offering rustic Italian and Sicilian food. (Source: www.theatlaslounge.co.uk 27/10/2010) (3) Please note, the tenants are currently holding over. NB This property is being marketed on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given The LPA Receivers are not bound to accept the highest or any offer and are acting without personal liability