Lot O1 - 36 Gloucester Road, Brighton, East Sussex, BN1 4AQ

  • Unconditional Online Auction Sale
  • * Reserve not to exceed : £250,000

Freehold Shop and Residential Ground Rent Investment

  • Comprising a shop and a flat (sold off)
  • Situated in an established trading location
  • Some 220m from Brighton Train Station
  • Shop reversion 2027
  • No VAT applicable

Tenure

Freehold

Location

This corner property is situated on the South side of Gloucester Road at its junction with Queen's Gardens in an established trading location within the town.
The property is close to Brighton Train Station and the pedestrianised Kensington Gardens which is home to a range of local traders.

Description

The property is arranged on basement, ground and two upper floors to provide a ground floor shop currently trading as a café with a basement kitchen. The upper parts comprise a flat which has been sold off on a long lease

VAT

VAT is not applicable to this lot.

Current Rent

Total Current Rents Reserved £27,500 p.a

Buyers Fee

Buyers Fee -The successful purchaser will be required to pay the auctioneers administration fee of £600 inclusive of VAT. Other additional costs/fees may apply please see Special Conditions of Sale.


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Sold for £377,000

This auction lot is now closed.

Auction Ended

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* Reserve not to exceed:
£250,000
Gross initial yield:
11.0%
No. Present Lessee Accommodation Terms of Lease Agreement Current Rent £ p.a Next Review / Reversion
36 La Choza Mexican
Street Food Ltd (1)
Gross Frontage (inc Splay)
Net Frontage
Shop Depth
Built Depth
Ground Floor
Basement
5.50 m
3.85 m
11.80 m
12.10 m
42.00 sq m
29.50 sq m
(18' 0")
(12' 6")
(38' 7")
(39' 7")
(452 sq ft)
(318 sq ft)
10 years from 09.05.2017
FR&I
£27,500 p.a. Reversion 2027
36a Individuals First and Second Floor Flat 189 years from 25.03.1982 Peppercorn Reversion 2171
Total £27,500 p.a.
(1) £5,500 surety held
  • * The Reserve Price is the minimum price at which the auctioneer is authorised to sell the lot at auction. The lot may be sold to the highest bidder at or above the Reserve Price but the auctioneer is not authorised to accept a bid below the Reserve Price.
  • The Reserve Price will only be disclosed once it has been met during bidding and not before.
  • The term "reserve not to exceed £..." means that the seller's lowest acceptable sale price will not exceed the quoted figure. The reserve price will not be set above this figure. However, it could be set at, or indeed below, the "reserve not to exceed" figure stated.
  • Reserve prices are subject to change up to the date of the auction.
  • At the commencement of marketing a starting price is to be announced. The starting price will be published 24 hours before bidding opens.
  • Lots may be withdrawn prior to auction.