Shop let to The Martlets Trading Co (guaranteed by Martlets Hospice Ltd) until 2025 (no breaks)
Nearby occupiers include Maplin, Superdrug, NatWest, WH Smith and Domino’s
The property is held in a Single Purpose Vehicle (SPV), which may be available by separate negotiation.
Lot 38
Auction 19th October 2017
Rent £65,000 per Annum Exclusive
Status Sold Post
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
1 mile north of Brighton city centre, 50 miles south of London
Roads
A23, A27, A270
Rail
Brighton Railway Station, London Road Railway Station
Air
Gatwick
Situation
The property is situated on the east side of the busy London Road (A23), opposite the junction with York Hill, in a prominent position in the centre of the commercial pitch. Nearby occupiers include Maplin, Superdrug, NatWest, WHSmith, Domino’s, Poundstretcher and many more.
Tenure
Freehold.
Location
Miles
1 mile north of Brighton city centre, 50 miles south of London
Roads
A23, A27, A270
Rail
Brighton Railway Station, London Road Railway Station
Air
Gatwick
Situation
The property is situated on the east side of the busy London Road (A23), opposite the junction with York Hill, in a prominent position in the centre of the commercial pitch. Nearby occupiers include Maplin, Superdrug, NatWest, WHSmith, Domino’s, Poundstretcher and many more.
Tenure
Freehold.
Description
The property comprises of an attractive mid terrace mixed use building comprising retail accommodation on the ground floor with self-contained residential accommodation on the upper floors. The property benefits from a significant frontage to London Road.
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 of an attractive mid terrace mixed use building comprising retail accommodation on the ground floor with self-contained residential accommodation on the upper floors. The property benefits from a significant frontage to London Road.
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
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/ (Reversion)
Ground
Retail
282.4 sq m
(3,040 sq ft)
THE MARTLETS TRADING CO LIMITED guaranteed by the Martlets Hospice Limited
10 years from 13/03/2015
£65,000
13/03/2020 (12/03/2025)
First Second, Third
Residential 4 x 2 Bed Flats
Not measured
PPNL SPV872-1 Limited
999 years from 23/07/2015
Peppercorn
(22/07/3014)
Total Commercial Area
282.4 sq m
(3,040 sq ft)
£65,000
(1) The Martlets is a registered charity that provides high quality palliative care. The Martlets operates a hospice in Hove and 9 charity shops in the Brighton and Hove region (www.themartlets.org.uk). For the year ending 31st March 2016, The Martlets Trading Co Ltd reported a turnover of £1,744,414, pre-tax profits of negative -£10,966 and a total net worth of £4,006 (www.riskdisk.com 22/08/2017). For the year ending 31st March 2016, The Martlets Hospice Limited reported pre-tax profits of £1,625,982 and a total net worth of £9,216,990 (www.riskdisk.com 22/08/2017).
