23 Gloucester Rd - Retail FOR SALE


Brighton, ESX BN1 4AD
$1,100,000 USD
23 Gloucester Rd, Brighton, ESX for Sale
$1,100,000 USD
Retail - FOR SALE
1/5
null | 8.59% Cap Rate

23 Gloucester Rd
Brighton, ESX BN1 4AD


HIGHLIGHTS

  • The property forms part of a modern mixed-use building known as Argus Lofts.
  • The remainder of the building comprises residential flats with ground floor offices and retail units.
  • The property is at the north end of Argus Lofts and has triple frontage to Robert Street, Gloucester Road and Kensington Street.
  • The property faces Sydney Street and is in the heart of the eclectic North Laine area.
  • Major retail / tourist and cultural centre on the south coast of England
  • Triple frontage retail unit let to Beyond Retro Ltd with 9 years unexpired term with no breaks

OVERVIEW

PRICE Offers in the region of £1,100,000 – reflecting an initial yield of 8.59%. TENURE Long leasehold - 999 years from March 2006 with at an annual ground rent of £250 per annum without review. The sale is subject to the existing tenancy in place to Beyond Retro Limited on an FRI basis, for a term of 15 years from October 2019 with no further break clauses. The current rent is £94,524.57 per annum, with RPI annual increases capped/collared at 1-4%.

FOR SALE DETAILS

PRICE

$1,100,000 USD

PRICE/SF

$355 USD /SF

CAP RATE

8.59%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1970

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.71 AC

LAND SF

30,823 SF

ZONING

-

APN/PARCEL ID

ESX219322

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