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Lot 7 Click here for addendum

Freehold Commercial Investment
6 week completion

Situation

Close to the junction with Church Road in the heart of this popular town centre, adjacent to Santander and nearby other multiples such as Gail's, Robert Dyas, Savers, Betfred, Barclays and others.
Hove is an affluent and sought-after seaside town located just west of Brighton enjoying excellent road links with A27 and A23, which leads to the M23 and M25 (Junction 7) whilst Hove Station (Southern) provides services to London Victoria.

Property

A mid terrace building comprising a Ground Floor Restaurant with internal access to Ancillary Accommodation on the first floor.

Accommodation

Ground Floor Restaurant (24 Covers)
Gross Frontage 16'10"
Internal Width 15'1"
Shop Depth 47'7"
Built Depth 62'11"
WC
First Floor Ancillary
2 Rooms
Area Approx. 250 sq ft
Bathroom/WC

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to Smith Style Consumer Products Company Limited t/a CK Bistro (Ramen/Noodle Bar & Asian Kitchen) (having 2 branches) for a term of 15 years from 21st September 2021 (excl. s.24-28 of L & T Act 1954) at a current rent of £22,000 per annum exclusive.

Rent Reviews 2026 and 5 yearly.

Note: There is a £7,300 Rent Deposit held.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,000 plus VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

3 George Street, Hove, East Sussex BN3 3YA