31 Ship St Local commercial 33 m² À vendre Brighton BN1 1AD 499 983 € (15 245,82 €/m²)

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. The residential element is subject to a regulated tenancy at a rent of £650 per calendar month.

Situated on the southern 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, Browns, 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 for the sum of £425,000 with the benefit of the existing tenancies. A purchase at the suggest level shows a net yield of 7.17% based on a purchaser’s cost of 4.33% & the current income of £31,800 per annum.

The normal ID & proof of address will be required from all parties in the transaction.