Fashionable city centre location within the popular pedestrianised ‘Lanes’ retail area
Planning permission granted for conversion and extension of 5 residential flats and an additional retail unit
Nearby occupiers include City News, Kellerwood Jewellers, Pavillion Diamonds Jewellers and a number of other boutique retailers
Lot 20
Auction 29th March 2012
Rent £52,500 per Annum Exclusive
Status Sold
Price £895,000
Sector High Street Retail
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
On Behalf of R Stokely and R Haines as Joint LPA Receivers, Edward Symmons
Property Information
Location
Miles
23 miles south of Crawley, 53 miles south of London
Roads
B2066, A23, A2010, A259
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 western side of the pedestrianised Meeting House Lane, within the popular ‘Lanes’ retail area in Brighton city centre. Nearby occupiers include City News, Kellerwood Jewellers, Pavillion Diamonds Jewellers and a number of other boutique retailers.
Tenure
Freehold.
Location
Miles
23 miles south of Crawley, 53 miles south of London
Roads
B2066, A23, A2010, A259
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 western side of the pedestrianised Meeting House Lane, within the popular ‘Lanes’ retail area in Brighton city centre. Nearby occupiers include City News, Kellerwood Jewellers, Pavillion Diamonds Jewellers and a number of other boutique retailers.
Tenure
Freehold.
Description
The property, a grade II listed building, comprises a retail unit over ground and basement with one self-contained residential unit over three upper floors. Planning permission has been granted for the conversion and extension of the existing first, second and third floor residential unit to form five flats, and to extend the current retail unit or create an additional retail unit at ground floor level. Further details can be accessed from the planning section of the Brighton Hove website http://www.brighton-hove.gov.uk (Application No. BH2011/00652 and BH2011/00635).
VAT
VAT is not applicable to this lot.
Viewings
There will only be block viewings for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Gwen Thomas. Tel: +44 (0)20 7034 4857.
Note
This property is being marketed 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 Receiver is not bound to accept the highest or any offer and are acting without personal liability.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property, a grade II listed building, comprises a retail unit over ground and basement with one self-contained residential unit over three upper floors. Planning permission has been granted for the conversion and extension of the existing first, second and third floor residential unit to form five flats, and to extend the current retail unit or create an additional retail unit at ground floor level. Further details can be accessed from the planning section of the Brighton Hove website http://www.brighton-hove.gov.uk (Application No. BH2011/00652 and BH2011/00635).
VAT
VAT is not applicable to this lot.
Viewings
There will only be block viewings for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Gwen Thomas. Tel: +44 (0)20 7034 4857.
Note
This property is being marketed 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 Receiver is not bound to accept the highest or any offer and are acting without personal liability.
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
Ground
Retail/Storage
102.84 sq m
(1,107 sq ft)
INDIVIDUALS (t/a Brighton Lanes Antique Centre Limited) (1)
10 years from 11/02/2002 on a full repairing and insuring lease (2)
£52,500
First
Residential
Not Measured
VACANT POSSESSION
Second
Residential
Not Measured
VACANT POSSESSION
Third
Residential
Not Measured
VACANT POSSESSION
Totals
102.84 sq m
(1,107 sq ft)
£52,500
(1) Brighton Lanes Antique Centre specialises in all types of fine antique furniture, jewellery, silverware and most other collectable household items. (Source: www.brightonlanesantiques.co.uk 05/03/2012) (2)Please note the tenant is holding over.
