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FOR SALE

23 St James's Street,
Brighton,
East Sussex,
BN2 1RF

Retail and Leisure, Investment, Development

3141 Sq Ft (291.8 Sq M)

Features

  • Freehold retail / residential investment / development opportunity
  • Prominent position on St James Street
  • Available with vacant possession
  • Planning permission granted for flats on upper floors
  • £500,000, subject to contract

Location

Brighton is located on the Sussex coastline approximately 56 miles (90 km) South of London, 22 miles (35 km) West of Eastbourne and 34 miles (53 km) East of Chichester. The city boasts a resident population of 288,200 people and a large proportion of them ages between the 20-44 age brackets.

Brighton benefits from excellent road communications with the A23 providing a direct link to Junction 11 of the M23 Motorway approximately 18 miles (29 km) to the North. In addition, the M25 Motorway is a further 12 miles (19 km) to the North. The city benefits from good connectivity to the National Railway network with the fastest journey time to London Victoria and London Bridge of approximately 51 minutes. Furthermore, Gatwick International Airport is only 18 miles (29 km) to the north which can be reached through the majority of the trains passing through Brighton.

Description

Town Centre Investment / Redevelopment Opportunity
FOR SALE

Planning

Planning permission was obtained in December 2018 for change of use to retail (A1) at basement and ground floors, with two 2-bedroom flats on the upper floors.

VAT

Rents and prices are quoted exclusive of, but may be subject to VAT.

Terms

We are instructed to seek offers in the region of £500,000 (Five Hundred Thousand Pounds), subject to contract, for the freehold interest.

Allocating an investment yield of 6% to the retail accommodation equates to a value of only £325,000. In relation to the upper parts, this equates to approx. £120 per sq ft based upon the gross internal area of 1,474 sq ft compared to sale values anticipated in the region of £375 per sq ft.

Please note that a purchaser will be re-charged the costs of searches which are provided in the data room.

Please note that a purchaser will be charged a Transaction Fee of £2,500 + VAT.

Key Contacts

Contact Photo

Andrew Halfacree

01273 740385

Contact Photo

Will Thomas

01273 740398