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31 Ship St 233 sq ft Retail Property Brighton BN1 1AD £375,000 (£1,609.44/sq ft)
Investment Highlights
- Comprises a ground floor & basement shop with a maisonette above
- Maisonette let on an Assured Tenancy
- Nearby occupiers include The Ivy & Ivy Asia (opposite), Pizza Pilgrims, Honest Burger, Nando's & Fred Perry
- Shop let on a new 10 year lease expiring in 2035
- Situated in Brighton's iconic Lanes district
- VAT is not applicable
Executive Summary
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.
OFFERS INVITED IN EXCESS OF £380,000 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 £1,350 per calendar month. The combined annual rental income is £40,200 per annum.
GUIDE PRICE £380,000+ DESIRABLE CITY CENTRE LOCATION RETAIL & RESIDENTIAL INVESTMENT RECENTLY COMPLETED NEW LEASE ON THE COMMERCIAL ELEMENT GUIDE PRICE NET YIELD 8.04% The freehold interest is available to purchase with offers invited in excess of £380,000 for the freehold interest subject to the existing tenancies.
OFFERS INVITED IN EXCESS OF £380,000 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 £1,350 per calendar month. The combined annual rental income is £40,200 per annum.
GUIDE PRICE £380,000+ DESIRABLE CITY CENTRE LOCATION RETAIL & RESIDENTIAL INVESTMENT RECENTLY COMPLETED NEW LEASE ON THE COMMERCIAL ELEMENT GUIDE PRICE NET YIELD 8.04% The freehold interest is available to purchase with offers invited in excess of £380,000 for the freehold interest subject to the existing tenancies.
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Property Type
Retail
Tenure
Freehold
Property Subtype
Shopfront Retail / Residential
Property Size
233 sq ft
Costar Property Class
B
Year Built
1920
Price
£375,000
Price per sq ft
£1,609.44
Tenancy
Single
Number of Floors
4
Plot ratio
0.03
Total Plot Size
0.20 ac
Frontage
15 ft on Ship Street
Amenities
- Security System
- Signage
- Storage Space
- Smoke Detector
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Nearby Major Retailers
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31 Ship St
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