60 Western Road and 43 Castle Street Brighton East Sussex BN1 2HA

60 Western Road and 43 Castle Street
Brighton
East Sussex
BN1 2HA

Freehold Retail Investment

Let to Vodafone Limited on a re-geared lease from 2016 (2)
Prominent corner location on the busy Western Road
Opposite Primark and close to the Churchill Square Shopping Centre
Other nearby occupiers include H&M, Argos, Marks & Spencer, New Look and McDonald’s
Possible future conversion of upper parts to residential (subject to lease and consents)
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
1
Auction
23rd March 2016
Rent
£50,000 per Annum Exclusive
Status
Sold
Price
£835,000
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On behalf of Insolvency Practitioners Deloitte

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Freehold Retail Investment

Let to Vodafone Limited on a re-geared lease from 2016 (2)
Prominent corner location on the busy Western Road
Opposite Primark and close to the Churchill Square Shopping Centre
Other nearby occupiers include H&M, Argos, Marks & Spencer, New Look and McDonald’s
Possible future conversion of upper parts to residential (subject to lease and consents)
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 1
Auction 23rd March 2016
Rent £50,000 per Annum Exclusive
Status Sold
Price £835,000
Sector
High Street Retail
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On behalf of Insolvency Practitioners Deloitte

Property Information

Location

Miles: 12 miles east of Worthing, 21 miles west of Eastbourne, 54 miles south of Central London
Roads: A23, A27, A270, M23 (Junction 1)
Rail: Brighton Railway Station (55 mins to London Victoria)
Air: London Gatwick Airport

Situation

The property is situated in a prominent corner position on the south side of Western Road, at its junction with Castle Street and a very short walk to The Churchill Square Shopping Centre, which houses retailers including McDonald’s, Debenhams, Apple Store, Zara and Next. Other neighbouring occupiers include Primark, H&M, Marks & Spencer and Argos.

Tenure

Freehold.

Location

Miles: 12 miles east of Worthing, 21 miles west of Eastbourne, 54 miles south of Central London
Roads: A23, A27, A270, M23 (Junction 1)
Rail: Brighton Railway Station (55 mins to London Victoria)
Air: London Gatwick Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground floor retail unit with ancillary accommodation on the basement, first and second floors. The property benefits from a return frontage on to Castle Street.

Six Week Completion

Note
This property is being marketed for sale on behalf of Insolvency Practitioners and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Insolvency Practitioners are acting without personal liability.

VAT

VAT is applicable to this lot.

EPC

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

Description

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	Reversion
Ground Basement First Second	Retail/Ancillary Ancillary Ancillary Ancillary	70.64 sq m 59.10 sq m 62.20 sq m 42.90 sq m	(760 sq ft) (636 sq ft) (670 sq ft) (462 sq ft)	VODAFONE LIMITED (1)	5 years from 2016 (2) on a full repairing and insuring lease	£50,000	2021
Totals		234.84 sq m	(2,528 sq ft)			£50,000

(1) Vodafone is one of the leading mobile communications providers, operating in 26 countries and with almost 444 million customers across the world. Vodafone employs over 13,000 people across the UK. (Source: www.vodafone.co.uk)
(2) The property is currently let to Vodafone Limited on a 5 year lease from 24th June 2012, expiring on 23rd June 2017 at a rent of £48,500 per annum. The lease provides for a mutual option to determine at any time on 6 months’ notice. Terms for a new 5 year lease (which will commence on the date of completion), without breaks, have been agreed at a rent of £50,000 per annum, subject to a 6 month rent free period, and is in solicitor’s hands. For further information, please refer to the legal pack. The seller has agreed to adjust the completion monies so that the property will produce £50,000 per annum from completion of the sale.