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Lot 8 Click here for addendum

3 inter-communicating Buildings prod. £45,000 p.a. – Only £35 per sq ft Freehold (Gross Yield 15%)
6 week completion

Situation

Located in the heart of the town centre amongst a host of popular Restaurants, Bars and independent traders, close to the junction with Cambridge Road and the multiple retailers in Queens Road, and only a few minutes' walk from the Seafront.
Hastings is a popular seaside resort enjoying easy access to the A21, situated approximately 13 miles east of Eastbourne and 25 miles west of Folkestone.

Property

3 inter-communicating buildings comprising a Ground Floor Double Retail Unit together with Offices on part Ground, Basement, First, Mezzanine, Second, Third and Fourth Floors.
The property includes 2 passenger lifts, WCs on each floor and there is also rear servicing accessed from Robertson Passage.

Refer to the Auctioneers for the floor plans of the building.

VAT is applicable to this Lot

FREEHOLD

ACCOMMODATION¹

Ground Floor (Office Reception (No. 17) & Double Retail Unit (Nos. 18 & 19))
Gross Frontage 61'4"
Built Depth 51'3"
Area Approx. 2,427 sq ft
Basement
Staff Rooms, Office & Storage Area Approx. 2,295 sq ft
First Floor
Offices & Kitchen Area Approx. 1,547 sq ft
Mezzanine Floor
Office Area Approx. 67 sq ft
Second Floor
Offices & Kitchen Area Approx. 985 sq ft
Third Floor
Offices & Kitchen Area Approx. 753 sq ft
Fourth Floor (Loft Hatch Access)
Storage Area Approx. 438 sq ft

_______________

Total NIA Approx. 8,512 sq ft

¹Not measured by Barnett Ross. Areas supplied by Joint Auctioneers.

Tenancy

The entire property is let on a full repairing and insuring lease (subject to a Schedule of Condition) to Holograph Limited (Tech Company incorporating Website Development & Digital Design) for a term of 6 years from 29th June 2018 at a current rent of £45,000 per annum exclusive.

Note 1: The lessees have informed the Vendor that they will not be renewing their lease in June 2024.

Note 2: There may be potential to redevelop the upper floors for residential use, subject to obtaining possession and the necessary consents.

Note 3: The lessees have sublet the ground floor of Nos. 18 & 19 and the basement of No.19 as a retail unit at £16,000 p.a. and the sub-lessee trades as Aura Que (ethical gifts and crafts).

Enquire about this lot:

JOINT AUCTIONEER:
Dyer & Hobbis
Tel: 01424 423 626 Ref: Oliver Dyer
odyer@dyerandhobbis.com

*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 £1,500 including 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.

17–19 Robertson Street, Hastings, East Sussex TN34 1HL