No longer on the market
This property is no longer on the market
MapIndustrial development
Industrial development
8731
Features and description
- Freehold £1,200,000
- Located in brighton city centre
- Let to mountain warehouse limited
- Income £86,800 pa
- Net yeild of 6.83%
Developed in approximately 2015 the building comprises a retail unit arranged over ground floor, 1st floor & basement let to Mountain Warehouse Limited . The upper floors comprise 9 residential apartments that are sold off by way 125 year leases from 2006 paying ground rents of £200 per annum which double every 25 years of the term. There is also a further building located at 10 Windsor Street which has been sold off by way of a 999 year lease at a peppercorn ground rent. In the year ending February 2022 Mountain Warehouse Limited had a Turnover of £302,564,000 & had an EBITDA of £10,918,000, whilst showing Net Assets of £122,298,000.
The property occupies a prime position on Queens Road close to the junction of North Street and South of Brighton's main line station. Nearby occupiers include Boots, Run Company, Yi Fang Bubble Tea, Evans Cycles, ITSU and Trespass. Churchill Square is approximately 100 metres to the south with Brighton Seafront a little further beyond that and Brighton's Lanes a short walk to the east.
Based on a purchase price of £1,200,000 a purchase at this level would show a blended net yield of 6.83% after allowance of purchasers costs at 5.92%
Retail 126-127 Queens Road £85,000 PA - Let to Mountain Warehouse Limited on an EFRI lease for a term of 5 years from December 2022.
Residential ground rents £200 x 9 = £1,800 PA - 9 x residential flats sold off on 125 year leases from 2006.
Total Income £86,800 PA
The property occupies a prime position on Queens Road close to the junction of North Street and South of Brighton's main line station. Nearby occupiers include Boots, Run Company, Yi Fang Bubble Tea, Evans Cycles, ITSU and Trespass. Churchill Square is approximately 100 metres to the south with Brighton Seafront a little further beyond that and Brighton's Lanes a short walk to the east.
Based on a purchase price of £1,200,000 a purchase at this level would show a blended net yield of 6.83% after allowance of purchasers costs at 5.92%
Retail 126-127 Queens Road £85,000 PA - Let to Mountain Warehouse Limited on an EFRI lease for a term of 5 years from December 2022.
Residential ground rents £200 x 9 = £1,800 PA - 9 x residential flats sold off on 125 year leases from 2006.
Total Income £86,800 PA
Property information from this agent
About this agent
With a wide range of clients, ranging from tenants looking to assign leases to institutional property investment companies and local authorities, we are able to assist in the letting of all types of commercial property thanks to our wealth of experience in the field. This includes retail, office, leisure, medical, licensed premises, and all other types of commercial premises. Once a suitable party has been sourced, we will issue comprehensive Heads of Terms to solicitors, whilst also obtaining references. We will then manage the process, keeping in constant contact with all relevant parties in the transaction to bring satisfactory completion to the process, swiftly and efficiently. Our experienced & knowledgeable commercial agency department act for a wide variety of clients. Our clients range from Independent Occupiers and Private Individuals to Institutional Property Investment Companies and Funds as well as Local Authorities.