1000 sq. ft (92.9 m²)
Key features
- Modern development
- 3 commercial units and 8 flats
- Allocated car parking
- Prominent position
- Close to Crowborough mainline station
- Outstanding commercial rent reviews
- All units sold or let
Description
In summary:
Shop 1 - let for a term of 12 years from August 2015 to 2 individuals trading as Jarvis Brew Coffee Shop at £9,000pa subject to rent review at 6th year (outstanding).
Shop 2 - let for a term of 10 years from October 2019 to an individual trading as a barbers shop at £10,000pa subject to rent review at 5th year.
Shop 3 – Let for a term of 6 years from November 2025 to Eden Valley Interiors Ltd as a showroom and held in their Limited Company name at a rent of £10,000pa subject to rent review and break option at 3rd year
There are 8 flats over, 4 per floor, all let on long leases for a term of 125 years paying a ground rent of £100pa subject to review every 15th year (from 1st July 2015) and a service charge at 12.5% of landlords expenditure per unit.
The entire premises are offered for sale on a new long leasehold interest of 999 years subject to the commercial and residential lettings. Offers sought in the region of £425,000. A purchase at this level, with the current annual income passing at £39,600, equates to a gross yield of 9.32%.
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