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49-50 Providence Place,
Retail and Leisure, Investment
563 Sq Ft (52.3 Sq M)
- Let on 15-year term dated 21st September 2020
- £20,000 income per annum
- Situated just off London Road, 0.75 miles from the seafront
- Occupiers close by include Costa Coffee, Santander, Sainsbury's & McDonalds and London Road multi storey car park
- 350 metres from Brighton Rail Station
- Offers invited in the region of £199,950
The property forms part of the ground floor of a recently constructed mixed use building on Providence Place with commercial uses to the ground floor and 9 residential units to 2 upper floors. Providence Place runs parallel to the eastern side of the A23 London Road - the main north to south access road into Brighton city centre and a significant retail and commercial area.
Long leasehold Investment
The property has recently been constructed and forms a self contained corner ground floor unit with a full height glazed frontage.
We have measured the existing accommodation to have the following approximate net internal floor areas: Total size 52.30 sq m (563 sq ft)
A new Use Classes Order (UCO) came into effect on 1st September 2020. Under the new UCO a new Use Class E was introduced to cover commercial, business and service uses. Use Class E encompasses A1, A2, A3, B1 and some D1 and D2 uses under the former UCO. We therefore understand that the premises benefit from Class E 'Commercial Business and Service' use within the Use Classes Order 2020.
Interested parties should make their own planning enquiries and satisfy themselves in this regard.
Rents and prices are quoted exclusive of, but may be subject to VAT.
Each party to bear their own legal costs incurred.
Long leasehold for a term of 999 years.
The long leasehold interest is offered for sale with offers invited in the region of £199,950.
The property is let by way of a 15-year equivalent FRI lease without a break from 21.09.2020 at a current rent of £20,000 pa. There is an upward only rent review every 5 years.
Energy Performance Rating
We understand the property to have an EPC rating of C (65).