£200,000

• Prime Freehold Restaurant/Take Away Investment For Sale
• 100% Rate Relief (STS)
• Busy Thoroughfare
• Close to Portslade Station
• Flat Sold Off on Long Lease
• Income Producing

DESCRIPTION Situated on popular Portland Road, Hove, this three storey building is made up of a first floor maisonette, which is sold off on a long lease. And ground floor premises comprising of seating/waiting area, two kitchens with extraction and WC. The premises is currently let to an established business and producing a rental income of £14,000 per annum, exclusive. 

TENURE Freehold 

LOCATION The premises are conveniently situated on the south side of Portland Road with its comprehensive shopping amenities, restaurants, pubs and leisure facilities. The nearest station is Portslade which is approximately 0.5 miles away with bus services running regularly nearby and ample street parking available. 

PRICE Offers are invited in the region of £200,000 for the freehold interest.

RENT The premises are let for a term of 15 years, at a current rent of £14,000 per annum, exclusive.

EPC The property has an EPC rating of C - 59.

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.

VIEWING ARRANGEMENTS Strictly by appointment with Sole Agents, Jacobs Steel.

BUSINESS RATES The rateable value from April 2024 provided by the Valuation Office Agency is £5800. The small business rates for the financial year (2023 - 2024) is 49.9p in the £ making the rates payable approx. £2731.80. 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.