Collington Mansions, Collington Avenue, TN39 3PU

Location

Collington Mansions is located on the northern side of Collington Avenue at its junction with Colebrooke Road and opposite the junction with Terminus Avenue on the B2098 within ¼ mile of Bexhill Town Centre.

The town is vibrant with a population in excess of 44,000 with a catchment of over 250,000 within a 20 minute drive. Bexhill is well serviced by both rail and road networks with direct trains to London Bridge and Victoria stations.

The premises form part of a neighbourhood parade of shops offering a variety of trading businesses that include Boots pharmacy, hair salon, mobility retailer and Tesco Express. The immediate area is made up of predominately affluent residential with Hastings Direct 50,000 sq ft headquarters office building within 5-minute walking distance. To the east is Bexhill's main industrial estate with a varied mix of businesses.

The property comprises a 4 storey mixed used terrace with commercial ground floor and basement benefitting from a triple fronted corner positioned self-contained retail premises with rear stores and side external small yard accessed from Colebrooke Road. The upper parts comprise self-contained flats with private access sold off on long leaseholds.

Tenancies

Shop and basement let to Tesco Stores Ltd on a 14 year lease from 14th November 2018 paying £27,500 pax.

The 3 flats above are held on long leaseholds paying peppercorn ground rents producing £150 pax.

A full tenancy schedule is available upon request

Total rental income £27,650 pax.

Guide Price

Offers are invited in excess of £420,000 for the freehold interest with the benefit of the current income reflecting a yield of 6.6% gross.

VAT

VAT is applicable to the sale.

Legal Costs

Each party is to be responsible for their own legal fees.

Viewing

Strictly by appointment via sole agents:

Simon Hunt

T: E:

Subject to contract sh/hc/07/19