123-125 Dyke Road
Hove
Brighton
Sussex
BN3 1TJ
28-28b Church Street, Crawley, RH11 7BG
Offers In Excess Of £250,000
3 Bedroom Commercial
Freehold Investment Of 3 x Commercial Units, With 3 Flats Sold Off On Long Leases.
Producing A Total Income Of Approximately £26,475 Per Annum
Situation
The property is situated in a suburban residential area, close to Crawley town centre.
Description
The property comprises a detached Freehold building arranged as 3 self contained retail / office units to the ground floor, currently trading as a barbers, a hairdressers and a tattoo studio, as well as 3 flats to the ground and first floor which are sold off on long leases.
Lease Details
28 Church Street – held on a commercial lease on a term of 20 years from 15 May 2018 with a current rent of £XXX effective FRI terms (19% service charge to external structure).
28 Church Street – held on a commercial lease on a term of 20 years from 15 May 2018 with a current rent of £11,000 pa effective FRI terms (19% service charge to external structure).
28a Church Street – held on a commercial lease on a term of 5 years from 03 August 2020 with a current rent of £6,350 pa with effective FRI terms (8% service charge).
28b Church Street – held on a commercial lease on a term of 10 years from 01 May 2018 with a current rent of £8,850 pa effective FRI terms (12% service charge).
Flat 1 – located on the first floor and is held on a term of 125 years from 18 December 2019 with a ground rent of £200 pa, then rising by RPI every 3 years. The current rent payable is TBC.
Flat 2 – located on the ground floor and is held on a term of 99 years from 24 June 1987 with a ground rent of £50, £75, £110, £175 pa rising every 25 years. The current rent payable is £75.
Flat 3 – located on the first floor and is held on a term of 189 years from 24 June 1987 with a peppercorn ground rent.
Tenure
Freehold
Total GIA
Commercial Unit, 28 Church Street - 495 sq ft/46 sq m
Commercial Unit, 28a Church Street - 247 sq ft/ 23 sq m
Commercial Unit, 28b Church Street - 516 sq ft/48 sq m
Total Approximate GIA - 1,258 sq ft/ 117 sq m
Rateable Value
Commercial Unit, 28 Church Street - £10,000
Commercial Unit, 28a Church Street - £4,800
Commercial Unit, 28b Church Street - £6,300
EPC
Commercial Unit, 28 Church Street - D
Commercial Unit, 28a Church Street - B
Commercial Unit, 28b Church Street - C
Legal Fees
Each party will be responsible for their own costs incurred in relation to the transaction.
Although these particulars are thought to be materially correct their accuracy cannot be guaranteed and they do not form part of any contract.
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