51 Western Road
and 25 Clarence Square
Brighton
East Sussex
BN1 2EB

Freehold Retail and Residential Investment

  • Shop Let to Greggs Plc until 2026 (No breaks)
  • Greggs in have been occupation for 15 years.
  • Includes two self contained flats with entrance on attractive Clarence Square
  • February 2021 Tenant option to determine NOT exercised
  • Potential to develop further Residential (Subject to consents)
  • Opposite substantial Primark Store
  • First time on the market for 20 years.
  • Lot
    4
  • Auction
    10/Dec/2020
  • Rent
    £63,800 per Annum Exclusive
  • Status
    Available
  • Price*
    £975,000+
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • 51 Western Road<br>and 25 Clarence Square<br>Brighton<br>East Sussex<br>BN1 2EB
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

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 position on the south side of Western Road, opposite substantial Primark store, approximately 100 metres from The Churchill Square Shopping Centre, which houses occupiers including McDonalds, Costa Coffee, H&M, Debenhams, Zara and Apple Store. Other neighbouring occupiers include Argos, KFC, Poundland, Vodafone, Halifax and TSB Bank.

Tenure

Freehold.

Description

The property comprises a substantial building with retail accommodation on the ground floor and ancillary accommodation in the basement, a 2 bed maisonette on part first and second floor and a studio apartment on part first floor fronting the attractive Clarence Square. The property benefits from being double fronted with the residential entrance from the Clarence square with attractive central gardens. The property may benefit from further residential accommodation with the addition of further floors (subject to consents).

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

See legal pack.

Tenancy & Accommodation

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReview/
(Reversion)
Ground
Basement
Retail
Ancillary
73.20 sq m
42.00 sq m
(788 sq ft)
(452 sq ft)
GREGGS PLC t/a
Greggs (1)
10 years from
05/02/2016
£39,50005/02/2021
(04/02/2026)
First and Part
Second
Residential
2 Bedroom Maisonette
INDIVIDUAL6 month Assured
shorthold tenancy
from 30/07/2020
£15,000
(2)
(29/07/2020)
Part Second
Floor
Residential
Studio Apartment
INDIVIDUAL1 year assured
shorthold tenancy
from 28/10/2020
£9,300(27/10/2020)
Total Commercial Floor
Area
115.20 sq m
(1,240 sq ft)£63,800

(1) For the year ending 28th December 2019, Greggs Plc reported a turnover of £1,167,900,000, a pre-tax profit of £108,300,000 and shareholders funds of £351,000,000 (NorthRow 19/11/2020).
(2) The rent reserved under the Assured Shorthold Tenancy is £1,250 per calendar month. The rent shown above has been annualised.

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    26.11.20
    File Size
    11 MB
    Login to View
  • Catalogue Page
    Updated Date
    20.11.20
    File Size
    2 MB
    View PDF
  • Site Plan
    Updated Date
    20.11.20
    File Size
    5 MB
    View PDF
  • Common Auction conditions
    Updated Date
    01.07.20
    File Size
    277 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    07.10.20
    File Size
    1,016 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060519john.mehtab@acuitus.co.uk
Billy StruthBilly Struth +44 (0)20 7034 4854billy.struth@acuitus.co.uk
Seller's Solicitors
TWM Solicitors LLP 123, High Street Epsom
Surrey
KT19 8AV
Anne Fowler 01372 731 178anne.fowler@twmsolicitors.com

Useful Links

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
How can Acuitus Finance help you with bridging finance
How can Acuitus Finance help you with bridging financeObtain bridging finance now