For Sale
12 Old Steine,
Brighton BN1 1EJ
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Investment
2,671 Sq Ft (248.14 Sq M)
- City centre freehold investment for sale
- Historic Old Steine location in the centre of Brighton
- Views over The Royal Pavilion and Old Steine Gardens
- Within 250 metres of the seafront, Palace Pier and The Lanes
- Let to Brighton Language College Ltd on a full repairing and insuring lease for a term of 10 years from 2 July 2018. Expiring 1 July 2028 with a passing rent of £36,500 per annum (£13.67/sqft)
- Buildings & railings are Grade II listed
- Potential for alternative uses in the future
Location
12 Old Steine is located in the heart of Brighton close to the junction with St James Street, overlooking The Royal Pavilion and Old Steine Gardens.
The seafront, Palace Pier, The Lanes and Brighton's main retail centre are near by.
Description
Brighton - City Centre Language School Investment
Accommodation
The building comprises a mid terrace period building with accommodation arranged over four floors.
The lower ground floor benefits from a separate external access via a staircase from the pavement as well as access internally via the main stairwell. The lower ground floor also benefits from good natural light and access to a garden / courtyard area.
Both the ground and lower ground floors have access to a private twitten which runs to the rear of the Old Steine.
| Description | Sq Ft | Sq M |
|---|---|---|
| Lower Ground Floor | 730 | 67.82 |
| Ground Floor | 757 | 70.33 |
| First Floor | 645 | 59.92 |
| Second Floor | 539 | 50.07 |
| Total | 2,671 | 248.14 |
Energy Performance Rating
We understand the property has an EPC rating of C (70).
Planning
The property is used as a language school. A new Use Classes Order (UCO) came into effect on 1st September 2020. Under the new UCO a new Use Class F1 was introduced to cover learning and non residential institutions. We therefore believe that the premises benefit from Class F1 within the Use Classes Order 2020.
Taxation
Rateable Value (2023): £26,250
Tenancy Information
The property is let in its entirety to Brighton Language College on a 10 year full repairing and insuring lease from 2 July 2018. The passing rent is £36,500 per annum. A rent review from July 2023 has not yet been implemented.
Terms
Offers are invited in the region of £600,000 for the freehold interest.
VAT
Rents and prices are quoted exclusive but may be subject to VAT.
Legal Fees
Each party to bear their own legal costs incurred.
Anti-Money Laundering Regulations 2017
In accordance with current Government legislation, we are legally required to conduct Anti-Money Laundering (AML) checks on all prospective purchasers or tenants where the transaction involves a capital value of €15,000 (EUR) or more, or a rental value of €10,000 (EUR) per calendar month or greater.
This process includes verifying identity, as well as confirming the source and availability of funds. Please note that we must obtain and record this information before any transaction can be formalised or contracts exchanged.
Flude Property Consultants for themselves and for the vendors or lessors of this property whose agents they are give notice that: i) these particulars are set out in good faith and are believed to be correct but their accuracy cannot be guaranteed and they do not form any part of any contract; ii) no person in the employment of Flude Property Consultants has any authority to make or give any representation or warranty whatsoever in relation to this property.
Please note that whilst we endeavour to confirm the prevailing approved planning use for properties we market, we can offer no guarantees in this regard. Planning information is stated to the best of our knowledge. Interested parties are advised to make their own enquiries to satisfy themselves in respect of planning issues.
We advise interested parties to make their own enquiries to the local authority to verify the above and the level of business rates payable in view of possible transitional arrangements and any reliefs.