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UNDER OFFER

55 - 57 High Street,
Newhaven,
East Sussex

Investment

8865 Sq Ft (823.56 Sq M)

Features

  • Well located within pedestrianised high street
  • Mixed use investment part let to Secretary of State for Work & Pensions
  • Versatile building suitable for the prevailing office and industrial uses whilst offering potential to convert to other uses in the future (STP)
  • Yard to rear with potential for future development
  • Located within Newhaven Enterprise Zone (https://newhavenenterprisezone.com)
  • Low passing rents - £5.35/ sq ft on the office element and £5.16/ sq ft on the industrial element
  • Guide price of £575,000 equates to £65/ sq ft capital value
  • Substantial frontage to Newhaven High Street and to the A259
  • Freehold for sale

Location

The property is prominently situated at the western end of Newhaven High Street on the junction with the A259 South Way. Brighton & Hove is located 8 miles to the west and Lewes 5.5 miles to the north.

Description

Mixed use investment opportunity FOR SALE
Let to Secretary of State for Housing Communities & Local Government of DWP and Tyre & Battery Services (Sussex) Ltd.
Currently producing £43,000 per annum.
8,865 sq ft of offices & workshop accommodation + yard.
For sale with offers in the region of £575,000 reflecting a Net Initial yield of 7.1%

Accommodation

The property comprises a three storey building. No. 55 comprises the front (northern) portion of the ground and first floors and the whole of the 2nd floor of the main building. This is fitted as office accommodation and benefits from a shop front onto the high street at ground floor level.

No. 57 comprises the rear (southern) half of the ground and first floors of the main building, the yard and the separate steel framed workshop. This accommodation is arranged and used as workshop and storage accommodation.

Unit Floor

55 Ground 96.81 sq m 1,042 sq ft
First 141.87 sq m 1,527 sq ft
Second 195.78 sq m 2,107 sq ft
Total 434.46 sq m 4,676 sq ft

57
Ground 142.25 sq m 1,531 sq ft
First 80.78 sq m 869 sq ft
Total 223.03 sq ft 2,401 sq ft

Detached workshop 166.13 sq m 1,788 sq ft

Overall Total 823.62 sq m 8,865 sq ft

NB - Number 55 has been measured on a Net internal basis.
- Number 57 and the detached workshop have been measured on a Gross Internal basis.

VAT

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

Legal Fees

Each party to bear their own legal costs incurred.

Terms

Offers in the region of £575,000. Which reflects a Net initial yield of 7.1% after purchasers costs of 4.98%.

Energy Performance Rating

55 - D (83)
57 - E (121)

Key Contacts

Contact Photo

Andrew Halfacree

01273 740385