Property photos
Under offer
Freehold
Offers over
£295,000
(£288.37/sq. ft)
Retail premises for sale
3 George Street, Brighton BN21,023 sq. ft
Local area information
Property location
Nearby amenities
- Carlton Hill Primary School 0.2 miles
- Middle Street Primary School 0.4 miles
- Brighton 0.6 miles
- London Road (Brighton) 1 mile
These distances are calculated in a straight line. The actual route and distance may vary.
Read our area guide for Brighton to find out more about the local area.
Features and description
- Freehold
Description
The premises comprise a mid-terrace ground floor and basement licenced restaurant/takeaway bar unit with a separate WC at the rear and a two-bedroom maisonette on the first and second floors above, with access from a shared rear passageway from George Street.
Location
The property is located on the western side of George Street, which links James’s Street to Edward Street, just east of Brighton town centre and just north of the seafront. St James’s Street, immediately adjacent, has nearby occupiers including Sainsburys, Morrisons, Superdrug, as well as a mix of independent retail shops, cafes and restaurants and public houses. Edward Street, just to the north, is home to a number of offices including the North African and European Headquarters of Amex.
Tenure And Tenancies
By way of a sale of the freehold interest, subject to the existing tenancies.
The ground floor and basement unit are undergoing refurbishment and is held by way of a lease from 20 September 2016 for a term of 10 years, with a current rent passing of £8,500 per annum exclusive. The residential maisonette has recently been let under the terms of an assured shorthold tenancy at a rental of £1,175 per calendar month. Total rental income - £22,600 per annum.
A sale price of £295,000 would represent an approximate gross yield before purchasers costs of 7.66%.
Legal Costs
Each party to be responsible for their own legal costs.
The premises comprise a mid-terrace ground floor and basement licenced restaurant/takeaway bar unit with a separate WC at the rear and a two-bedroom maisonette on the first and second floors above, with access from a shared rear passageway from George Street.
Location
The property is located on the western side of George Street, which links James’s Street to Edward Street, just east of Brighton town centre and just north of the seafront. St James’s Street, immediately adjacent, has nearby occupiers including Sainsburys, Morrisons, Superdrug, as well as a mix of independent retail shops, cafes and restaurants and public houses. Edward Street, just to the north, is home to a number of offices including the North African and European Headquarters of Amex.
Tenure And Tenancies
By way of a sale of the freehold interest, subject to the existing tenancies.
The ground floor and basement unit are undergoing refurbishment and is held by way of a lease from 20 September 2016 for a term of 10 years, with a current rent passing of £8,500 per annum exclusive. The residential maisonette has recently been let under the terms of an assured shorthold tenancy at a rental of £1,175 per calendar month. Total rental income - £22,600 per annum.
A sale price of £295,000 would represent an approximate gross yield before purchasers costs of 7.66%.
Legal Costs
Each party to be responsible for their own legal costs.
More information
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