Lot 118 Long Leasehold Commercial InvestmentAuction Date:
20th March 2024
36 Meads Street, Eastbourne, East Sussex, BN20 7RG
Currently let at £12,500 per annum
This three storey period property occupies a prominent corner location in the heart of the sought-after Meads district of Eastbourne at the junction of Matlock Road and Meads Street. It is trading as a wine merchants and is held on a 10-year lease at a passing rent of £12,500 per annum.
The investment is located in a good trading location in this secondary commercial throughfare with the area represented by multiples including Co-op, Tesco Express and a variety of independent local traders. There are excellent road links to the seafront, town centre and all surrounding areas via the nearby A27.
Ground Floor
Retail unit.
Basement
Store.
Tenancy
Let on a 10-year fully repairing and insuring lease from September 2022 at a passing rent of £12,500 per annum with a rent review and tenants break at the 5th year anniversary.
Tenure
Remainder of a 999-year lease from 16th October 2014 at a peppercorn ground rent.
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
