9/11 Broad Street
Seaford
East Sussex
BN25 1LS

Town Centre Freehold Retail Investment with large vacant 3 bedroom flat

  • Prominent Town Centre Location
  • Let to Optician & Charity Shop with vacant self-contained 3 bedroom flat above
  • Immediate Asset Management Opportunities
  • VAT-free Investment
  • Lot
    25
  • Auction
    24/Sep/2021
  • Rent
    £34,500 per Annum Exclusive
  • Status
    Sold
  • Price*
    £581,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • 9/11 Broad Street, Seaford, East Sussex, BN25 1LS
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  • Photos
  • Map

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

Property Information

Location
Miles
8 miles south of Lewes
9 miles west of Eastbourne
11 miles east of Brighton
Roads
Roads A26, A27
Rail
Seaford
Air
London Gatwick
Situation

Seaford is a popular tourist destination on the East Sussex coast, with a resident population of approximately 20,000 and located 9 miles west of Eastbourne and 11 miles east of Brighton. The town is served by the A239 coast road and benefits from regular rail services to Brighton, Gatwick and London (Victoria).
The property is situated in the town centre location on Broad Street, the main retail thoroughfare of the town, close to its junction with High Street.
Occupiers close by include Co-op (diagonally opposite) Boots, WHSmith and a variety of local traders.

Tenure

Freehold.

Description

The property comprises two ground floor shops with a large self-contained 3 bedroom flat at first floor. The flat is separately accessed from the rear.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

See legal pack at www.acuitus.co.uk

Tenancy & Accommodation

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReview/
(Reversion)
GroundRetail
78.2 sq m
(842 sq ft)
SUSSEX EYECARE LIMITED
with a guarantee from D.
McGee t/a Sussex Eyecare
Opticians (1)
10 years from
21/03/2003
£15,500(Holding
Over) (2)
GroundRetail
84.3 sq m
(907 sq ft)
ST WILFRID''S HOSPICE
(EASTBOURNE) t/a St Wilfrids
Hospice (3)
10 years from
21/07/2019 (4)
£19,00022/07/2024
(4)
FirstResidential
3 Bedrooms
VACANT---
Total Commercial Area
162.50 sq m
(1,749 sq ft) plus a three bed flat
  £34,500 

(1) Established in 1997 (www.sussexeyecare.co.uk)
(2) Terms have just been agreed with the tenant to take a new 10 year lease, with no breaks, at a commencing rent of £17,000 p.a, with an upwards only rent review at year 5.
(3) St Wilfrids Hospice are a Charity and trade from 6 shops in the local area (www.stwhospice.org)
(4) The lease is subject to a tenant only option to determine on 21/07/2024.

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

  • Site Plan
    Updated Date
    03.09.21
    File Size
    640 KB
    View PDF
  • Catalogue Page
    Updated Date
    03.09.21
    File Size
    789 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Billy StruthBilly Struth +44 (0)20 7034 4854 +44 (0)7824 705 955billy.struth@acuitus.co.uk
Seller's Solicitors
Irwin Mitchell LLP Belmont House, Station Way
Crawley
RH10 1JA
Lucy Barber 07425 620424lucy.barber@irwinmitchell.com

Useful Links

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