Key features
- Town centre restaurant investment with two Flats sold off on long leases
- Ground Floor Restaurant with an area of 3,576 ft2 / 332.34m2
- Restaurant let on an FR&I Lease with an unexpired term of 11 years
- Investment producing £55,200 per annum exclusive
- A Purchase Price of £850,000 refects an attractive Net Initial Yield of approximately 6.15%
Description
Burgess Hill is situated some 11 miles north of Brighton, 14 miles south of Crawley and approximately 50 miles south of London. The town has a population of 30,635 persons and is easily accessible from the surrounding areas due to its close proximity to the M23 Motorway, A23 and the A27 south coast road. Gatwick Airport is approximately 30 minutes drive away. Burgess Hill main line station provides a journey time of approximately 53 minutes to Central London.
The property is situated in a prominent position fronting Station Road close to the junction with Mill Road and Church Road, the town’s principal retailing thoroughfare. National multiples in the immediate vicinity include HSBC BANK, BARCLAYS, HALIFAX, WILLIAM HILL, NATIONAL WESTMINSTER BANK, VISION EXPRESS, NATIONWIDE, SUPERDRUG, SANTANDER, W H SMITH, CAFE NERO, COSTA COFFEE, LLOYDS BANK, J D WETHERSPOON, WAITROSE and AMERICAN EXPRESS.
The property was built in the 1930’s and comprises a mid-terrace ground floor restaurant with two selfcontained flats at first floor. Access to the flats is via two separate ground floor entrances in Station Road. Pedestrian and loading access to the rear of the ground floor is via a shared service road. The property has been constructed in two parts predominantly open space with the front section providing a two storey building of part load bearing walls and part concrete frame construction under a double pitched tiled roof. The rear section is single storey construction with load bearing walls under a steel trussed with part glazed north lights and a slate pitched roof.
Similar properties in the area
Investment for sale
117-118 Western Road, Hove, East Sussex, BN3 1DB
An attractive, double retail unit in an end of terrace building arranged over basement, ground, first, second and third floors.
Investment for sale
16-17, Cranbourne Street, Brighton, BN1 2RD
Please contact us for full details.
Investment for sale
1-5, The Broadway, Crawley, RH10 1DU
The property comprises a period, four-storey return frontage building, arranged as a ground-floor banking area with basement vaults, plus ancillary first and second floor accommodation currently arranged as offices and storage.