GPS Business Sales in conjunction with Austin Gray are delighted to announce the sale of 48 Grove Road in Eastbourne.
This freehold property comprises a commercial investment with A3 let at £17,000pa and 4 flats sold off on long leases. A 5 storey corner building containing a commercial unit over the whole ground floor and basement with 4 self-contained flats above. Commercial premises: Permitted use for a restaurant within use class A3. Let on a 15 year, fully repairing and insuring lease commencing 31 August 2016 at a rent of £17,000 per annum, with rent reviews every 5 years. The approximate floor area of the ground floor and basement is 1,582sqft (147m2) Flats: 1st floor - 1 x large 2-bed 2nd floor - 2 x studio 3rd floor - 1 x 1-bed All sold off on 99 year leases commencing 25 March 1988 (70 years remaining) and produce £200 per annum in ground rent.
Sold off a freehold guide price of £190,000 - £200,000.