St. James’s Street, Brighton, BN2 1TP

DESCRIPTION This mid-terraced, five storey property is made up by a ground floor shop, which is let at a current rent of £1250 per calendar month, exclusive. The upper floors are a self-contained three bedroom maisonette and currently achieving £1,700 per calendar month therefore, the property is currently achieving an overall income of £35,400 per annum, exclusive.
Additionally, the property benefits from a self-contained basement which has the potential to be converted to a studio apartment (STP).

LOCATION Situated in the heart of the vibrant area of Kemp Town, St James's Street houses a number of restaurants, bars and commercial occupiers. Royal Sussex County Hospital and Brighton College are to the north and Brighton seafront is within walking distance to the south. 

PRICE Offers are invited in the region of £400,000 for the freehold interest.

RENT The ground floor shop produces a current rent of £15,000 per annum, exclusive.
The ERV for the self-contained maisonette is in the region of £1,700 per calendar month.
The potential overall income is £35,600 per annum, exclusive.

EPC The first floor maisonette has an EPC rating of E - 52.
The shop has an EPC rating of C - 67.

VAT We are informed that VAT is not 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.

BUSINESS RATES The rateable value from April 2023 provided by the Valuation Office Agency is £7700. The small business rates for the financial year (2023 - 2024) is 49.9p in the £ making the rates payable approx. £3842.30. However, since the premises have a rateable value of lower than £12,000, occupiers can expect to benefit from 100% rate relief, subject to status.