22 Cliffe High Street, Lewes, BN7 2AH
Property Features
- Prime Freehold Retail Investment
- Situated on a Prime Thoroughfare
- ERV of £30,000 for the Ground Floor
- Flat is Sold Off on a Long Lease
- Potential to Convert the Ground Floor into Two Retail Units (STP)
Property Summary
RETAIL INVESTMENT The subject property is arranged over two floors, with the first floor flat being sold off on a long lease. The ground floor retail premises are let to Oxfam and consist of two shops, which have been combined into one but potentially, if the property became vacant, these can be converted back into two premises again. In our opinion, the rental income could be improved and our estimation is that it would fall in the region of £30,000pax.
The premises can be found on Google Maps by typing in the following postcode: BN7 2AH.
Full Details
Location:
Lewes is the county town of East Sussex, nestled within the South Downs National Park, with a direct fast train service to London. The town offers an excellent range of shops including Costa Coffee, Boots, two prime supermarkets, Waitrose, and Tesco, along with a variety of independent medieval and Georgian high street shops. Additionally, Lewes offers a wide range of popular cafés, old inns, and restaurants as well as a farmer's market held the first weekend of every month. High quality sports facilities including pool, track and tennis courts, as well as County and Regional teams representing Football, Rugby, Cricket and Hockey, offering great opportunities for adults and children alike, all within easy walking distance of the property. Highly regarded primary schools are an easy walk as are Priory Secondary School, Sussex Downs College and Lewes Old Grammar School.
The premises can be found on Google Maps by typing in the following postcode: BN7 2AH.
Description:
The subject property is arranged over two floors, with the first floor flat being sold off on a long lease. The ground floor retail premises are let to Oxfam and consist of two shops, which have been combined into one but potentially, if the property became vacant, these can be converted back into two premises again. In our opinion, the rental income could be improved and our estimation is that it would fall in the region of £30,000pax.
Accommodation:
The premises have the following approximate floor areas:
Ground floor: 680sqft / 63.17sqm
Total floor area: 680sqft / 63.17sqm
Tenure:
Freehold investment
Price:
Offers are invited in the region of £425,000 for the freehold interest.
Business Rates:
The rateable value from April 2023 provided by the Valuation Office Agency is £20,250. The small business rates for the financial year (2023 - 2024) is 49.9p in the £ making the rates payable approx. £10,104.75.
EPC:
The property has an EPC rating of C - 58.
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.
Contact:
Leigh Doherty
Jacobs Steel - Commercial Manager
t: 01903 792785 e: leighdoherty@jacobs-steel.co.uk