Old Steine, Brighton, BN1 1EL
Property Features
- Prime Freehold Investment
- Prime City Centre Location within Yards of Brighton Seafront
- Potential Uplift in Income
- Imposing Five Storey Regency Building
- Recent External Refurbishment
Property Summary
This imposing, five storey property is situated in a prime location fronting the Old Steine, with fabulous views over Steine Gardens and the the sea, located between the main tourist sites of Brighton Pier, The Royal Pavilion and within yards of the busy retail thoroughfare of St James's Street. Churchill Square Shopping Centre, North Laines and Brighton Station are all within walking distance. The property has recently undergone an external refurbishment and scaffolding has just been removed.
Full Details
LOCATION This prominent and imposing five-storey Regency building is situated within yards of the Famous Brighton Pier and is made up of three flats and two offices. The lower ground floor is self-contained from Steine Gardens and consists of two bedrooms, two bathrooms and a rear courtyard. All the other floors are accessed via the main entrance, which is also found on Steine Gardens and up a few steps. The ground floor is let to an office occupier and is made up of two interconnecting offices at the front, with a large meeting room, a kitchenette and WC at the rear, together with a small outside area. The first floor is also let to an office occupier and consists of a large office at the front, with a beautiful bay window and views over Steine Gardens, together with an interconnecting meeting room, which is separated by a glazed wall. At the rear, there is a meeting room with a pitched roof, kitchenette and WC. The top two floors is the Penthouse apartment, which consists of open plan living area, fabulous views and a small rear balcony.
PRICE Offers are invited in the region of £1,750,000
RENT Overall ERV income of £88,200 per annum.
EPC
The ground and first floor has an EPC of D - 81.
The penthouse has an EPC rating of D - 65.
The basement flat has an EPC rating of C - 74.
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.
BUSINESS RATES
Ground floor:
The rateable value from April 2023 provided by the Valuation Office Agency is £9,700. The small business rates for the financial year (2023 - 2024) is 49.9p in the £ making the rates payable approx. £4,804.30.
First floor:
The rateable value from April 2023 provided by the Valuation Office Agency is £12,000. The small business rates for the financial year (2023 - 2024) is 49.9p in the £ making the rates payable approx. £5,988.00.
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.
VIEWING Strictly by appointment with Sole Agents, Jacobs Steel.