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170 North St 6,831 SF 100% Leased Retail Building Brighton BN1 1EA $1,993,329 ($291.81/SF) 7.97% Cap Rate
Investment Highlights
- Prime opportunity to acquire a prominent mixed-use investment
- Excellent city centre position, with the property backing directly onto the Pavilion Gardens
- Significant asset management and value-add opportunities
- Strategically located on North Street, directly opposite The Lanes
- Attractive period building offering character and strong long-term occupier appeal
- Offers sought in the region of £1.5 million
Executive Summary
The subject property is located on the northern side of North Street, adjacent to Lloyds Bank and opposite the Hanningtons Brighton Scheme, a former department store sitting on 1.3 acres which has been extensively redeveloped to create a new 'Lane' to the rear as well as providing retail stores fronting North Street.
North Street is a popular location for leisure operators to include Wahaca, Smashburger and Bella Italia. Numerous other bars and restaurants are located immediately off North Street and The Lanes and North Laine areas. The historic Brighton Pavilion, Pavilion Gardens and North Laine are situated immediately to the north.
The property is of traditional brick construction with an attractive sandstone façade beneath a combination of pitched slate, flat and mansard roofs. It comprises a period mid-terrace building arranged over five storeys to the front (basement to third floor) and three storeys to the rear (basement to first floor).
The ground floor and basement are let to Cornish Bakehouse, providing a prominent retail unit fronting North Street.
The rear part of the ground floor, together with the first, second and third floors, provides self-contained office accommodation accessed independently from North Street. Ancillary storage is located within the basement.
Vehicular access is available to the rear of the property via Prince's Place, where there is a shared service area currently used for refuse storage.
Offers are invited in the region of £1.5 million reflecting a net initial yield of 7.97%, assuming the property is fully let and after usual purchasers costs.
Each party to bear their own legal costs incurred.
In accordance with current Government legislation, we are legally required to conduct Anti-Money Laundering (AML) checks on all prospective purchasers or tenants where the transaction involves a capital value of €15,000 (EUR) or more, or a rental value of €10,000 (EUR) per calendar month or greater.
This process includes verifying identity, as well as confirming the source and availability of funds. Please note that we must obtain and record this information before any transaction can be formalised or contracts exchanged.
North Street is a popular location for leisure operators to include Wahaca, Smashburger and Bella Italia. Numerous other bars and restaurants are located immediately off North Street and The Lanes and North Laine areas. The historic Brighton Pavilion, Pavilion Gardens and North Laine are situated immediately to the north.
The property is of traditional brick construction with an attractive sandstone façade beneath a combination of pitched slate, flat and mansard roofs. It comprises a period mid-terrace building arranged over five storeys to the front (basement to third floor) and three storeys to the rear (basement to first floor).
The ground floor and basement are let to Cornish Bakehouse, providing a prominent retail unit fronting North Street.
The rear part of the ground floor, together with the first, second and third floors, provides self-contained office accommodation accessed independently from North Street. Ancillary storage is located within the basement.
Vehicular access is available to the rear of the property via Prince's Place, where there is a shared service area currently used for refuse storage.
Offers are invited in the region of £1.5 million reflecting a net initial yield of 7.97%, assuming the property is fully let and after usual purchasers costs.
Each party to bear their own legal costs incurred.
In accordance with current Government legislation, we are legally required to conduct Anti-Money Laundering (AML) checks on all prospective purchasers or tenants where the transaction involves a capital value of €15,000 (EUR) or more, or a rental value of €10,000 (EUR) per calendar month or greater.
This process includes verifying identity, as well as confirming the source and availability of funds. Please note that we must obtain and record this information before any transaction can be formalised or contracts exchanged.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront Retail/Office
Building Size
6,831 SF
Building Class
C
Year Built
1920
Price
$1,993,329
Price Per SF
$291.81
Cap Rate
7.97%
NOI
$158,868
Percent Leased
100%
Tenancy
Multiple
Building Height
5 Stories
Building FAR
0.21
Lot Size
0.75 AC
Amenities
- Bus Line
- Commuter Rail
- Security System
Nearby Major Retailers
1 of 14
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170 North St
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