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31 Ship St 332 sq ft Retail Property Brighton BN1 1AD £380,000 (£1,144.58/sq ft) 8.37% Net Initial Yield
INVESTMENT HIGHLIGHTS
- GUIDE PRICE £380,000+
- RETAIL & RESIDENTIAL INVESTMENT
- GUIDE PRICE NET YIELD 8.04%
- DESIRABLE CITY CENTRE LOCATION
- RECENTLY COMPLETED NEW LEASE ON THE COMMERCIAL ELEMENT
EXECUTIVE SUMMARY
A mid terrace property comprising a retail unit over ground floor and basement with a 1-bedroom maisonette above. The property is fully tenanted with the commercial element having a new lease completed in March 2025. The ground floor retail unit is let by way of an internal & shop front repairing lease of 10 years ending 18th March 2035 to Brighton Creamer LLP at a rent of £24,000 per annum exclusive, subject to a tenant only break option on 17th March 2030 and a rent review on 18th March 2030. The landlord holds a rent deposit of £5,500. We are advised the residential element is subject to an assured tenancy at a rent of £650 per calendar month. The combined annual rental income is £31,800 per annum.
Situated on the western side of Ship Street on the edge of Brighton's famous Lanes, close to Duke Street, North Street & Union Street. Nearby occupiers include The Ivy & Ivy Asia, Pizza Pilgrims, Honest Burger & Fred Perry in addition to an array of other local and national eateries, retailers and pubs & bars.
The freehold interest is available to purchase with offers invited in excess of £380,000 for the freehold interest subject to the existing tenancies.
The normal ID & proof of address will be required from all parties in the transaction.
Situated on the western side of Ship Street on the edge of Brighton's famous Lanes, close to Duke Street, North Street & Union Street. Nearby occupiers include The Ivy & Ivy Asia, Pizza Pilgrims, Honest Burger & Fred Perry in addition to an array of other local and national eateries, retailers and pubs & bars.
The freehold interest is available to purchase with offers invited in excess of £380,000 for the freehold interest subject to the existing tenancies.
The normal ID & proof of address will be required from all parties in the transaction.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Shopfront Retail / Residential
Property Size
332 sq ft
Costar Property Class
B
Year Built
1920
Price
£380,000
Price per sq ft
£1,144.58
Yield
8.37%
NOI
£31,806
Tenancy
Single
Number of Floors
4
Plot ratio
0.33
Total Plot Size
0.02 ac
Frontage
15 ft on Ship Street
AMENITIES
- EPC - D
- Storage Space
MAJOR TENANTS
- TENANT
- INDUSTRY
- sq ft OCCUPIED
- RENT/sq ft
- LEASE END
- Brighton Creamery Ltd
- -
- 310 sq ft
- -
- Dec 2022
| TENANT | INDUSTRY | sq ft OCCUPIED | RENT/sq ft | LEASE END | ||
| Brighton Creamery Ltd | - | 310 sq ft | - | Dec 2022 |
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NEARBY MAJOR RETAILERS
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31 Ship St
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