£250,000
(£367.65/sq. ft)
Property for sale22 Cliffe High Street, Lewes, East Sussex BN7
680 sq. ft
Added on
Jacobs Steel
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About this property
Situated on a Prime Thoroughfare
Erv of £27,500 for the Ground Floor
Flat is Sold Off on a Long Lease
Potential to Convert the Ground Floor into Two Retail Units (STP)
Estimated Rates Payable: £10476
Location
The property is prominently positioned on Cliffe High Street, a well-established and busy commercial thoroughfare within the historic town of Lewes, East Sussex.
Lewes is the county town of East Sussex and is renowned for its historic character, independent retailers, cafés, restaurants and traditional inns. Cliffe High Street provides a diverse mix of retail and commercial occupiers, creating an established and attractive trading environment.
The property is conveniently located approximately 0.4 miles from Lewes railway station, which provides regular services including connections towards Brighton and London. The town also benefits from good road links, with the A27 providing access towards Brighton, Eastbourne and the wider Sussex road network.
Description
The subject property comprises a ground floor retail premises currently occupied by Oxfam. The accommodation is currently arranged as two adjoining shop units which have been combined to create one larger retail space.
The premises offer flexible commercial accommodation and, subject to any necessary consents and works, there is potential for the units to be separated and returned to two individual retail premises should the property become vacant.
Price
Offers are invited in the region of £250,000 for the freehold interest.
Tenure Comments
Freehold investment
Rent
The property is currently occupied by Oxfam, who are paying a passing rent of £20,000 per annum exclusive. The existing lease has now expired and the landlord has appointed a specialist surveyor to negotiate terms with the current occupier.
Having regard to the property and prevailing market conditions, the landlord considers that there is potential to increase the rental income, with negotiations currently targeting a revised rent of £27,500 per annum exclusive.
EPC
The property has an EPC rating of C - 58.
VAT
We are informed that VAT is applicable on the terms quoted.
Use
We understand the premises benefit from Class E use however, we would advise any potential tenant to check with the Planning Department to ascertain if their use is permitted.
Legal Fees
Each party is responsible for their own legal fees in this transaction.
Viewing
Strictly by appointment with Sole Agents, Jacobs Steel.
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