Bond Street 7 Bond Street and 1-3 Bond Street Row 3,127 sq ft 100% Let Retail Property Brighton BN1 1RD £555,000 (£177.49/sq ft) 6.07% Net Initial Yield

Location
Brighton is one of the south east’s most vibrant and attractive coastal cities, benefiting from strong connectivity to London, Gatwick and the wider region. The city is renowned for its diverse retail offer, drawing from a wide catchment including a large and affluent resident population, significant student presence, and consistently strong tourist footfall. Brighton continues to benefit from ongoing investment across the city centre, alongside a strong pipeline of residential and mixed-use development, further enhancing its appeal as a key retail and leisure destination in the South East.
Situation
Bond Street is located in the heart of Brighton’s prime retail core and the principal entrance from North Street into the North Laine. The area is known for its boutique environment, attracting a strong mix of independent operators, niche retailers and high-quality national brands. Nearby occupiers include a variety of established retailers, cafés and restaurants including Ace & Tate, Gresham Blake, Badger and Flint Owl Bakery.
Description
7 Bond Street and 1-3 Bond Street Row is a four-storey end-of-terrace Grade II listed building arranged over basement, ground, first and second floors. The commercial accommodation is arranged over basement, ground and first floors. There is a 1 bedroom flat on the second floor of 1-3 Bond Street Row, which is not self-contained and a two bedroom maisonette with self-contained access from Bond Street.
Tenancies
7 Bond Street and 1-3 Bond Street Row are both let on separate FRI leases, which are coterminous, to Hillingdon Retail Limited (13400266) for a term of 10 years commencing 25/12/2022. Both leases are inside the Landlord & Tenant Act 1954. The passing rent for 7 Bond Street is £25,500 pax. The passing rent for 1-3 Bond Street Row is £9,500 pax. The total rent payable is therefore £35,000 pax. The leases are contracted inside the Landlord and Tenant Act 1954 and contain upwards only open market rent reviews operable 25/12/2027. Hillingdon Retail Limited trade as Begelman, who are a renowned local independent bakery that started trading from 7 Bond Street in 1999 and now operate from 3 locations across Brighton and Hove.
Retail Transactions
National retailers have recently chosen to locate in Bond Street including Animal Clothing, Jimmy Fairly and Finisterre. These transactions demonstrate recently achieved rental values of between £95 and £130 ZA.
Opportunity
We consider the commercial rents to be reversionary, and in addition to this, further rents could be collected from new residential accommodation which could be separately let in the upper parts and/or at 1-3 Bond Street Row.
Data Room
To view the data room: Click here.
VAT
The property is not elected for VAT and VAT will not be chargeable on the terms quoted.
EPC
The EPC certificates are available in the data room.
Proposal
Offers are invited in excess of £550,000 for the property. A purchase at this level, after normal purchaser’s costs, would show a net yield of 6.07%.