Property photos
Freehold
£1,250,000
(£409.57/sq. ft)
Retail premises for sale
116 & 116A Church Road, Hove, East Sussex BN33,052 sq. ft
Local area information
Property location
Nearby amenities
- St Andrew's CofE (Aided) Primary School 0.2 miles
- St Christopher's School 0.4 miles
- Hove 0.5 miles
- Aldrington 0.7 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Read our area guide for Hove to find out more about the local area.
Features and description
- Freehold
- Rare Opportunity to Acquire a Commercial Property in Church Road
- Development Potential (stnc)
- Two Fully Fitted Premises
- Centrally Located
- Fully Income Producing with self contained 2 Bed Maisonette
Location
Situated on the southern side of Church Road, Hove, which is one of the main commercial thoroughfares and well known for it's abundance of restaurants and eateries. Church Road offers a multitude of national occupiers including HSBC, Giggling Squid, Gail's Bakery, Co-Op, Tesco and Hixon Green, together with many local independents. Hove Mainline Train Station is a short distance away and Hove Lawns and the Seafront are within walking distance.
Description
*starting bids from £1,250,000*
A rare opportunity to acquire a mixed use building situated on a corner plot along Church Road and Albany Villas, Hove. The property is split into two units; the corner unit benefits from a large double frontage with recessed doorway and comprises ground floor open plan space with bar area to the rear and lower ground floor fully fitted kitchen, store room and WC.
The adjoining three storey premises and is made up of a fully fitted ground floor restaurant/bar and a generous extended ground floor covered terrace and seating area, with potential for development stnc. The first floor offers two kitchens with additional storage room. The third floor consists of a self-contained two bedroom apartment which can be accessed internally or via an external staircase.
The property is fully let and income producing and generating an attractive rental income of £24,200 per annum, exclusive for 116a and £65,000 per annum, exclusive for 116.
Auction Notes
This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold).
If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding.
A Buyer Information Pack is provided. The winning bidder will pay £300.00 including VAT for this pack which you must view before bidding.
The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.50% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax.
Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £450.00. These services are optional.
Price
Offers are invited in the region of £1,250,000 for the freehold interest.
Tenure Comments
Freehold
Rent
116a is currently let and producing a rent of £24,200 per annum, exclusive.
116 is let and producing a rent of £65,000 per annum, exclusive.
EPC
The right hand side unit has an EPC rating of B - 49.
The maisonette has an EPC rating of F - 21.
The corner unit has an EPC rating of E - 108.
VAT
We are informed that VAT is applicable on the terms quoted.
Use
We understand the premises benefit from Class E use however, we would advise any potential tenant to check with the Planning Department to ascertain if their use is permitted.
Legal Fees
Each party is responsible for their own legal fees in this transaction.
Viewing
Strictly by appointment with Sole Agents,
Jacobs Steel.
Rare Opportunity to Acquire a Commercial Property in Church Road
Development Potential (stnc)
Two Fully Fitted Premises
Centrally Located
Situated on the southern side of Church Road, Hove, which is one of the main commercial thoroughfares and well known for it's abundance of restaurants and eateries. Church Road offers a multitude of national occupiers including HSBC, Giggling Squid, Gail's Bakery, Co-Op, Tesco and Hixon Green, together with many local independents. Hove Mainline Train Station is a short distance away and Hove Lawns and the Seafront are within walking distance.
Description
*starting bids from £1,250,000*
A rare opportunity to acquire a mixed use building situated on a corner plot along Church Road and Albany Villas, Hove. The property is split into two units; the corner unit benefits from a large double frontage with recessed doorway and comprises ground floor open plan space with bar area to the rear and lower ground floor fully fitted kitchen, store room and WC.
The adjoining three storey premises and is made up of a fully fitted ground floor restaurant/bar and a generous extended ground floor covered terrace and seating area, with potential for development stnc. The first floor offers two kitchens with additional storage room. The third floor consists of a self-contained two bedroom apartment which can be accessed internally or via an external staircase.
The property is fully let and income producing and generating an attractive rental income of £24,200 per annum, exclusive for 116a and £65,000 per annum, exclusive for 116.
Auction Notes
This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold).
If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding.
A Buyer Information Pack is provided. The winning bidder will pay £300.00 including VAT for this pack which you must view before bidding.
The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.50% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax.
Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £450.00. These services are optional.
Price
Offers are invited in the region of £1,250,000 for the freehold interest.
Tenure Comments
Freehold
Rent
116a is currently let and producing a rent of £24,200 per annum, exclusive.
116 is let and producing a rent of £65,000 per annum, exclusive.
EPC
The right hand side unit has an EPC rating of B - 49.
The maisonette has an EPC rating of F - 21.
The corner unit has an EPC rating of E - 108.
VAT
We are informed that VAT is applicable on the terms quoted.
Use
We understand the premises benefit from Class E use however, we would advise any potential tenant to check with the Planning Department to ascertain if their use is permitted.
Legal Fees
Each party is responsible for their own legal fees in this transaction.
Viewing
Strictly by appointment with Sole Agents,
Jacobs Steel.
Rare Opportunity to Acquire a Commercial Property in Church Road
Development Potential (stnc)
Two Fully Fitted Premises
Centrally Located
Floor plans and tours
Floor plans (3)
More information
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