For Sale
46 Brunswick Road,
Shoreham-By-Sea BN43 5WB
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Investment
1,198 Sq Ft (111.29 Sq M)
Location
The property is situated in a prominent corner position, directly opposite Shoreham mainline railway station at the junction of Brunswick Road and Station Approach.
Shoreham is a busy coastal town with excellent links to Brighton, Portsmouth, Chichester and London.
Description
Shoreham - Retail & Ground Rent Investment
Accommodation
The property comprises a mixed retail and residential building, formerly known as the Burrell Arms Public House and arranged over five storeys.
The retail unit is configured over the ground floor with basement storage, and with five individual flats located over the upper three floors.
Tenancy Information
The restaurant unit is let to an owner operator, under the terms of an effective full repairing and insuring lease for a term of 25 years from 24 January 2008, expiring 23 January 2033. The passing rent is £35,000 per annum and subject to five yearly upward only rent reviews, with the next review in January 2028.
The upper parts are sold off by way of 150 year leases dated 25 March 2008 paying a combined ground rent of £1,000 per annum.
Terms
We have been instructed to market the freehold interest at a guide price of £450,000 plus VAT.
VAT
The property is elected for 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.