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FOR SALE

139-142 North Street,
Brighton,
East Sussex,
BN1 1RU

Investment

36271 Sq Ft (3369.58 Sq M)

Features

  • Located in Brighton, one of the largest commercial centres in the South East of England.
  • Substantial multi let landmark detached block situated on North Street in 100% prime position.
  • Over 61% of the income secured to Barclays Bank PLC
  • Low overall rent to Barclay's Bank of £13.59 psf
  • AWULT of 6.30 years.
  • Total income of £573,524.
  • Freehold.
  • Offers in excess of £13,426,000 (THIRTEEN MILLION FOUR HUNDRED AND TWENTY-SIX THOUSAND POUNDS).
  • Net Initial Yield of 4% after allowance for purchaser's costs of 6.8%.

Description

Prime Substantial landmark retail and office investment opportunity.

Accommodation

The subject property comprises a substantial landmark retail and office building built up over basement, ground and three upper floors. The basement, ground, first and part second floor are fitted out as a bank with the main banking hall located on the ground floor. The ground floor benefits from excellent natural light due to three lightwells that run through to the rear of the banking hall. The main entrance to the bank benefits from frontage onto North Street.

The office accommodation to the upper floors benefit from a separate, self-contained access from Portland Street. There is a further self-contained access to the upper floors in Kings Place. This provides access to both the office accommodation above Barclays and also the "Kings Place suite". The property benefits from 2 lifts, 3 staircases and onsite parking for approximately 10 cars.

The property is locally listed and is within an article 4 area.

Key Contacts

Contact Photo

Andrew Halfacree

01273 740385

Contact Photo

Ed Deslandes

01273 740396