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24-32 Fernside Av
775 SF Retail Unit Offered at £110,000 in St. Leonards-On-Sea TN38 0UU
Property Facts
| Price | £110,000 | Sale Type | Investment |
| Unit Size | 775 SF | Building Class | B |
| No. Units | 1 | Number of Floors | 3 |
| Total Building Size | 3,924 SF | Typical Floor Size | 3,924 SF |
| Property Type | Retail (Unit) | Year Built | 1961 |
| Property Subtype | Storefront Retail/Residential |
| Price | £110,000 |
| Unit Size | 775 SF |
| No. Units | 1 |
| Total Building Size | 3,924 SF |
| Property Type | Retail (Unit) |
| Property Subtype | Storefront Retail/Residential |
| Sale Type | Investment |
| Building Class | B |
| Number of Floors | 3 |
| Typical Floor Size | 3,924 SF |
| Year Built | 1961 |
1 Unit Available
Unit 30
| Unit Size | 775 SF | Sale Type | Investment |
| Price | £110,000 | Tenure | Long Leasehold |
| Price Per SF | £141.94 | Net Initial Yield | 9.32% |
| Unit Use | Retail | NOI | £10,250 |
| Unit Size | 775 SF |
| Price | £110,000 |
| Price Per SF | £141.94 |
| Unit Use | Retail |
| Sale Type | Investment |
| Tenure | Long Leasehold |
| Net Initial Yield | 9.32% |
| NOI | £10,250 |
Description
Comprises mid-terrace ground floor takeaway shop, providing the following accommodation and dimensions
Ground Floor: 72 sq m (775 sq ft)
Reception, kitchen, storage, wc
Sale Notes
Investment Consideration:
Gross Initial Yield: 9.32%
Rental Income: £10,250 p.a.
VAT is NOT applicable to this property
Comprises mid-terrace ground floor takeaway shop
Occupiers nearby including Tesco Express, Hair and Beauty salon and more.
Tenancy:
The property is at present let to Hosain Management Consultancy Ltd (with personal guarantee) for a term of 10 years from 28th April 2022 at a current rent of £10,250 per annum and the lease contains full repairing and insuring covenants. Rent review in in April 2027 open market upward only. Tenant option to determine in April 2027 with minimum 6 months notice.
Tenure:
Long leasehold. To be held on a 999 year lease from completion at a ground rent of Peppercorn.
Location:
St Leonards-on-Sea is a town and seaside resort in the Borough of Hastings in East Sussex. The property is situated in a parade of commercial units in a predominantly residential area of St Leonards, with occupiers nearby including Tesco Express, Hair and Beauty salon and more.
Amenities
- Storage Space
Nearby Major Retailers
Presented by
24-32 Fernside Av
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