23 Robertson Street, Hastings, East Sussex TN34 1HL
Barnett Ross Property AuctioneersBarnett Ross was formed in October 2002, drawing upon the combined 60 year's auction experience of John Barnett and Jonathan Ross, and immediately established itself as one of the largest independent auction houses in the U.K.
Read more Read moreLot 20 Freehold Investment – Shop, Basement, Coffee Lounge & Flat – Gross Yield 9.8% In the same family ownership for over 25 years 6 week completion SITUATION Located in the heart of the town centre amongst a host of popular Restaurants, Bars and independent traders, close to the junction with Cambridge Road and the multiple retailers in Queens Road, and only a few minutes’ walk from the Seafront. Hastings is a popular seaside resort enjoying easy access to the A21, situated approximately 13 miles east of Eastbourne and 25 miles west of Folkestone. PROPERTY An attractive mid terraced period building comprising a Ground Floor Shop with Basement Storage plus internal access to a Coffee Lounge at first floor level and a large Self-Contained Flat on the second and third floors. There is a rear service road via Robertson Passage allowing vehicular access for unloading plus a dumb waiter running from the basement to the first floor Coffee Lounge. ACCOMMODATION Ground Floor Shop Gross Frontage 20'1" Internal Width 18'8" Shop Depth 35'3" Built Depth 48'10" Sales Area Approx. 655 sq ft Basement Storage, Kitchen/Prep Area Approx. 900 sq ft WC First Floor Coffee Lounge (seats 35) Area Approx. 815 sq ft WC Second & Third Floor Flat 3 Bedrooms, Living Room, Open Plan Kitchen/Dining Room, Shower Room/WC GIA Approx. 1,290 sq ft VAT is NOT applicable to this Lot FREEHOLD TENANCY The entire property is let on a full repairing and insuring lease to K. Burden & S. White as a Café/Gift Shop for a term of 20 years from 5th January 2015 at a current rent of £21,500 per annum exclusive rising to £22,500 p.a. on 5th January 2026 and £23,500 p.a. on 5th January 2027. Rent Review 2030 Note 1: The lessees live in the flat and have maintained it to a high standard. Note 2: The lessees have been in occupation of the property for approx. 30 years.
