68-72 Western Road Hove East Sussex BN3 2JG

68-72 Western Road
Hove
East Sussex
BN3 2JG

Attractive Retail Parade Investment

Six self-contained retail units
Tenants include Home Leasing Limited, M & O Trading Limited and Altjeringa Limited
Prominent corner position on busy retail thoroughfare
Nearby occupiers include Tesco Express, Sainsbury's and Starbucks
Six Week Completion Period Available

Lot
2
Auction
18th October 2011
Rent
£71,500 per Annum Exclusive
Status
Sold
Price
£655,000
Auction Venue
Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On behalf of Joint LPA Receivers, Edward Symmons

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Attractive Retail Parade Investment

Six self-contained retail units
Tenants include Home Leasing Limited, M & O Trading Limited and Altjeringa Limited
Prominent corner position on busy retail thoroughfare
Nearby occupiers include Tesco Express, Sainsbury's and Starbucks
Six Week Completion Period Available

Lot 2
Auction 18th October 2011
Rent £71,500 per Annum Exclusive
Status Sold
Price £655,000
Sector
High Street Retail
Auction Venue
Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On behalf of Joint LPA Receivers, Edward Symmons

Property Information

Location

Miles: 23 miles south of Crawley, 53 miles south of London
Roads: A27, A23, A270, A259, M23 (Junction 11)
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 Road, one of the town's principal retail thoroughfares, at its junction with Palmeira Square. Nearby occupiers include Tesco Express, Sainsbury's and Starbucks.

Tenure

Long Leasehold. Held for a term of 150 years from 24th June 1986 until 23rd June 2136 at a peppercorn rent

Location

Miles: 23 miles south of Crawley, 53 miles south of London
Roads: A27, A23, A270, A259, M23 (Junction 11)
Rail: Brighton Railway Station (55 minutes to London Victoria)
Air: London Gatwick (22 miles)

Situation

Tenure

Long Leasehold. Held for a term of 150 years from 24th June 1986 until 23rd June 2136 at a peppercorn rent

Description

The property comprises a parade of six self-contained ground floor retail units. Units 71, 71A and 72 also benefit from basement ancillary accommodation.

Note:
This property is being marketed for sale 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.

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

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
68	Ground	Retail	38.46 sq m	(414 sq ft)	INDIVIDUAL (t/a Eat Good) (1)	10 years from 19/08/2011 until 18/08/2021 (1)	£11,500	19/08/2016
69	Ground	Retail	50.35 sq m	(542 sq ft)	M & O TRADING LIMITED (t/a Spektra Hair)	5 years from 15/04/2011 until 14/04/2016	£13,500
70	Ground	Retail	53.33 sq m	(574 sq ft)	ALTJERINGA LIMITED (2) (t/a Altjeringa)	5 years from 01/05/2009 until 01/05/2014	£12,500
71	Ground & Basement	Retail/ Ancillary	37.72 sq m	(406 sq ft)	INDIVIDUAL (t/a St Wannas Convenience Store)	10 years from 28/04/2009 until 27/04/2019 (3)	£12,500	28/04/2014
71A	Ground & Basement	Retail/ Ancillary	22.20 sq m	(239 sq ft)	INDIVIDUAL (t/a Uber)	5 years from 01/07/2011 until 30/06/2016	£9,500
72	Ground & Basement	Retail/ Ancillary	54.72 sq m	(589 sq ft)	HOME LEASING LIMITED (4)	15 years from 24/06/2006 until 23/06/2021	£12,000	24/06/2015
Totals			256.78 sq m	(2,764 sq ft)			£71,500

(1) There is a tenant only option to determine on 19th February 2014 and 19th August 2016 on giving no less than six months' notice.
(2) Altjeringa stocks jewellery, gifts, homeware, accessories and objects d'art products sourced from global suppliers with sustainable working practices. (Source: www.altjeringa.co.uk 16/09/2011)
(3) There is a tenant only rolling break subject to at least 6 months' written notice from 28th April 2011.
(4) Home Leasing Limited are residential letting agents operating from two stores in Hove and Brighton. They have been a member of the Association of Residential Letting Agents (ARLA) for sixteen years. (Source: www.homeleasing.co.uk 16/09/2011)