Location
Winston Crescent is located on the A259 St Anthonys Road opposite the junction with Queens Crescent within ¼ mile of the Admiral Retail Park and 2 miles east of Eastbourne Town Centre. The town is vibrant with a population in excess of 100,000 with a catchment of over 250,000 within a 20 minute drive.
Eastbourne is well serviced by both rail and road networks with direct trains to London Victoria (85 minutes), Brighton (30 minutes) and Ashford (69 minutes). The main roads into the town are:
the A22 London road, A27 Brighton road and A259 coast road.
Eastbourne has many amenities and presently Legal and General are extending the town centre Arndale Centre. The £85 million development will provide a further 186,114 sq ft retail and restaurant space also to include a 9 screen multiplex cinema. This will be open late 2018.
The premises form part of a neighbourhood parade of shops adjacent to Tollgate Junior School. The parade boasts a variety of traders to include One Stop, Ladbrokes, Post Office Counters, Fox and Son Estate agents and a number of independent traders. There are bus stops immediately adjoining the scheme going in both directions and parking bays servicing the shops.
The premises comprise of several adjoining two storey buildings with flats above sold on long leaseholds and the adjoining shop and flat sold on an effective freehold.
To the rear are two domestic lock up garages let on informal licence terms.
At present the investment produces a total rental income of £23,950 per annum.
Tenancies
Please see tenancy schedule below.
Address Tenant Lease
Details Lease Expiry Rent
16 & 18 Winston Crescent TS Stores plc 20/10/2000 19/10/2020 £22,750
2 x garages 2 x £600 pax
TOTAL £23,950 pax
Guide Price
Offers are invited in excess of £350,000 for the freehold interest with the benefit of the current income reflecting a yield of 7%.
VAT
VAT is not 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
Hunt Commercial on .
Listed Features
- General Retail
- Retail Park
- Office
- Parking
- Restaurant
- Post Office