Property Information
Address:
81-85 South Coast Road, Peacehaven, East Sussex, BN10 8QS
, BN10 8QS
Price: Property no longer available.
Size: 7292 sq ft677 sqm
Primary Category: Investment
All Categories:
Investment,
Property Ref/Movehut: MH518829
Property Ref/Agent: 81 85 South Coast Road Peacehaven East Sussex Bn10 8qs 566 - investment
*Please use the agent ref when calling the agent directly.
Property description
81-85 South Coast Road, Peacehaven, East Sussex, BN10 8QS
Status
Under Offer
Location
Peacehaven is located approximately 6 miles east of Brighton, 3 miles west of Newhaven and 16 miles west of Eastbourne being linked by the A259 South Coast Road. Peacehaven is within easy reach of the A27 to the north that in turn provides a dual-carriageway link to the A/M23.
The subject property is found on the southern side of South Coast Road towards the eastern extent of Peacehaven.
Local shopping is available at the nearby Meridian Centre and along South Coast Road, which is characterised by its variety of commercial premises.
Description
The site comprises two adjoining commercial properties, currently used as retail showrooms, together with ancillary storage at the rear.
Both properties front South Coast Road and have a forecourt running the width of the site that provides parking.
There is rear access to both properties from Vernon Avenue, which provides for further parking and acts as a service yard for delivery vehicles.
Accommodation
The properties have the following approximate floor areas:-
81/83 South Coast Road
Ground Floor Showroom/Storage
677.43 sq m
(7,292 sq ft)
First Floor Offices
82.58 sq m
(889 sq ft)
Total
760.01 sq m
(8,181 sq ft)
85 South Coast Road
Ground Floor Showroom/Storage
276.00 sq m
(2,971 sq ft)
Site Area
0.152 hectares
(0.375 acres)
Tenure
The freehold interest is available for sale subject to the existing tenancies.
The premises are considered suitable for future redevelopment, subject to planning consent.
Tenancy
We understand both leases are on Full Repairing and Insuring terms and copies are available on request.
81/83 South Coast Road
Tenant
Hayden John Hicks (trading as South Coast Windows)
Term
6 years from 29 September 2010, expiring 28 September 2016
Rent
£40,000 per annum exclusive, in advance on the usual quarter days
85 South Coast Road
Tenant
Jeremy Drury (trading as Premier Carpets)
Term
6 years from 29 September 2010, expiring 28 September 2016
Rent
£8,000 per annum exclusive, in advance on the usual quarter days
We understand there are outstanding rent reviews relating to both leases from the 29 September 2013 review date.
Price
Offers are invited in the order of £500,000 for the freehold interest, subject to the existing tenancies.
Business Rates
We have been informed by the Local Rating Authority that the premises are assessed as follows:
81/83 South Coast Road - Rateable Value:
£40,75085 South Coast Road - Rateable Value: £20,900
UBR (2016/2017) 49.7 p in £
We advise that you contact the Local Rating Authority for confirmation of the actual amounts payable.
VAT
VAT is not applicable on the terms quoted.
Legal Costs
Each party to be responsible for their own legal costs.
EPC
Further information regarding the Energy Performance Certificates to be provided.
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