31 North Rd 429 SF Retail Building Brighton BN1 6SP $382,612 ($891.87/SF) 7.13% Cap Rate

The property is an end of terrace building with commercial accommodation to the ground and lower ground floors and a self-contained maisonette (sold on a long lease) to the upper floors.
The ground floor comprises a retail shop fronting onto North Road with a return display frontage onto Tichborne Street. There are WC and tea-making area to the rear and a staircase at the front giving access to basement studio space.
The basement comprises studio space with natural light from a pavement light and a rear courtyard. There is a separate WC, a tea-making area and an under-pavement vaulted area.
There is a garage / external store the rear of the property, which is accessed from Tichborne Street and used for storage purposes.
We understand that the ground floor premises benefits from Class E 'Commercial Business and Service' use within the Use Classes Order 2020. Interested parties should make their own planning enquiries and satisfy themselves in this regard.
For sale with a guide price of £285,000.
Ground Floor, Basement & Garage: FRI on a lease from 10.6.2019 expiring 30.6.2028 at a passing rent of £20,314 per annum (from 1.11.2025).
Maisonette: Held by way of long lease expiring 24.12.2176 at a peppercorn rent.
Rents and prices are quoted exclusive but may be subject to VAT.
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.