Lot 72 Shop For InvestmentAuction Date:
1st November 2023
24-25 Grand Parade, St. Leonards-on-Sea, East Sussex, TN37 6DN
Currently let at £11,440 per annum
A ready-made commercial investment producing a good income situated in a prominent position on St. Leonards seafront. The property, which is arranged over two floors and is let to Grand Designs, is located close to St. Leonards town centre, local shops, amenities and Warrior Square mainline railway station. Hastings town centre can also be found one- mile east of Grand Parade offering a wide variety of amenities including Hastings Pier and Priory Meadow Shopping Centre.
Let for the term of five years from 2022 the substantial commercial unit forms part of a larger block known as Grand Court and is arranged as retail spaces on the ground floor with ancillary space in the basement. There is also a single parking space to the rear of the building.
Ground Floor
Glass double-fronted entrance leading to open plan retail area, Office and W.C., door to rear.
Lower Ground Floor
Open plan storage
Outside
Parking space to rear
Tenancy
Let to Grand Designs for the term of five years from 1st March 2022 at a current rental of £11,440 per annum.
Tenure
Remainder of a 99-year lease, from the 29th September 1985, at a current ground rental of £100 per annum.
There is an addendum available to be read
in conjunction with the legal documentation.
Important
All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on Auction Day.
* Price Information
Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction).
We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.
Additional Fees
An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer.
All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to Buyers Fees
