Mixed-Use Freehold Investment Property in Hastings, East Sussex - £55K Annual Rental Income
Hastings, East Sussex
- Status
FOR SALE
- Date Submitted:
24/03/23
- Advert ID
510605
- Reference
31084 / Rightbiz
- Call Agent:
- Freehold: £799,000
- Turnover: N/A
- Net Profit: On request
Key Features
- Town Centre location
- Price Reduced
Business Details
Freehold Commercial Investment Property
A mixed-use investment freehold property consisting of three commercial units and two residential flats. The flats and the retail unit are sold off on long leases and there are tenants in the ground floor restaurant and first floor events venue producing a total rental income of £55,000. The property is Grade II Listed.
Location
The property is situated in the highly desirable ‘Old Town’ conservation area of Hastings. It is supported by a wide variety of other shops and businesses including hair salons, restaurants, bars, cafes, jewellers, ladies’ fashion, etc. It is located in a popular pedestrianised area with a delightful ‘bohemian’ atmosphere just back from the main Hastings seafront.
Tenancies
Ground Floor Restaurant – currently occupied on a FRI commercial lease for a term of 6 years from February 2023 (no breaks) at a current rent £35,000 and reviewed every 3 years.
First Floor Events Venue – currently occupied on a FRI commercial lease for a term of 6 years from February 2023 (no breaks) at a current rent £20,000 and reviewed every 3 years.
Ground Floor Retail Unit (11) – sold on a 99-year lease from 1985 with a ground rent of £35 per year.
Flat 11a – Sold on a 189-year lease from 1993. Annual ground rent of £50.
Flat 11b – Sold on a 125-year lease from 1993. Annual ground rent of £50.
Tenure: Freehold
Contact Agent
Listing Statistics
Contact the seller for more details, or book a viewing
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Contact seller
Stay Safe
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
Stay Safe
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Stay Safe
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Stay Safe
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Stay Safe
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Stay Safe
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
Be safe, use a Rightbiz Solicitor
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