170 - 172 Church Road
Hove, BN3 2DJ
RETAIL/OFFICE INVESTMENT
FREEHOLD FOR SALE
Status
For Sale
Location
The premises are located on the western end of Church Road, adjacent to Hove library and opposite Tesco supermarket. Church Road is a thriving commercial thoroughfare which includes all the major banks, numerous restaurants and bars and a selection of single and multiple retailers along with a wide variety of office occupiers.
Description
Property comprises an end of terrace 4-storey plus basement building, benefiting from return frontage. There is also a small ground floor lock-up shop shop which is sold off on a long leasehold basis.
Available area
The accommodation comprises the following approximate net internal floor areas:
| Description | sq ft | sq m |
|---|---|---|
| Basement - Offices and Store | 1,072 | 99.59 |
| Front Part Ground Floor | 815 | 75.72 |
| Rear Part Ground Floor | 209 | 19.42 |
| First Floor | 702 | 65.22 |
| Second Floor | 800 | 74.32 |
| Third Floor | 651 | 60.48 |
| External Store | 84 | 7.80 |
| Total | 4,333 | 402.55 |
Tenure
The property is available by way of a sale of the freehold interest, subject to the existing tenancies.
Tenancies
The main part ground floor and basement is let to Mansell McTaggart Hove Ltd by way of a 10 year lease from 14 August 2024 at the current rent of £35,000 per annum exclusive. There is a tenant break clause in August 2027.
The rear ground floor access and upper parts are let to the Phoenix Theatre Company on a 5 year lease from Dec 2023 at a rent of £35,000 per annum exclusive. A 3 month rent deposit is held.
The small ground floor shop at 172 Church Road is subject to a 125 year lease from March 1980 producing a ground rent of £10 per annum.
The total income is £70,010 per annum.
VAT
VAT may be applicable on the terms quoted.
Legal Costs
Each party to be responsible for their own legal costs.
Price
£900,000
Business Rates
The property has a combined Rateable Value of £49,750 with a UBR of 49.9 p in £
Energy Performance Rating
Property graded as D-E (85-109)
Viewing & Further Information
For further information, or if you would like to arrange a viewing, please contact our agents:
