Under Offer
84 Church Road,
Hove BN3 2EB
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Investment
Location
The property is situated on the southern side of Church Road which is a busy main road thoroughfare where a wide variety of national and independent retailers as well as many restaurants are represented.
Nearby occupiers include Café Nero, Pizza Express, Natwest and Lloyds Bank.
Description
Central Hove Freehold Investment Opportunity
Accommodation
The property is an attractive six storey mid terrace period building. The commercial unit is arranged over the ground and lower ground floors.
There are 1 x 2 bedroom and 2 x 1 bedroom highly specified residential flats to the upper parts, which are accessed separately via an entrance at the rear of the property.
The property has the following approximate NIA:
Basement Ancillary Storage: 70.08 Sq M / 754 Sq Ft
Ground Floor Retail: 61.19 Sq M / 659 Sq Ft
First Floor Flat A - Residential: 50.61 Sq M / 545 Sq Ft
Second Floor Flat B - Residential: 51.63 Sq M / 556 Sq Ft
Third/Fourth Floors Flat C - Residential: 82.27 Sq M / 886 Sq Ft
Planning
Interested parties should make their own planning enquiries and satisfy themselves in this regard.
VAT
The property is elected for VAT.
Legal Fees
Each party to bear their own legal costs incurred.
Terms
Freehold for sale subject to the benefit of the existing lease with a guide price of £1.450,000.
The ground floor retail unit is let is occupied by Fourth & Church, a popular local wine bar and restaurant, with a lease that is set to expire on 23.06.2026. which is within the Landlord & Tenant Act 1954.
The flats are let by AST agreements.
Rental Income
Fourth & Church: £30,000
Flat A: £21,000
Flat B: £18,600
Flat C: £27,300
Total: £96,900
Energy Performance Rating
We understand the ground floor retail property to have an EPC rating of C (71).
Flat 84A has an EPC rating of C (70)
Flat 84B has an EPC rating of C (71)
Flat 84C has an EPC rating of C (76)