Commercial For Sale   |   Western Road, Hove, BN3 2JQ   |   Offers in Excess of £900,000

Summary

An opportunity to acquire the freehold of a well maintained commercial premises in prime central Hove location.

The property is currently tenanted by a well established restaurant with a lease until October 2027, currently producing £55,000 per annum.

The property is in excellent decorative order through out and comprises of a large dining room with bar on the ground floor. Heading to the first floor you will find further seating and another bar which can be hired for functions. On the second floor there are several rooms used for storage / office space.

On the lower ground floor you will find a fully equipped commercial, staff office space and W/C"s for customers.

This property offers buyers a rare opportunity to purchase a freehold in central Hove and the potential to be extended STNPC.

Location

Palmeria Square is located between Church Road and Kingsway, and is known for its beautiful Grade II listed buildings. Over looking the well kept communal gardens, with the seafront also just moments away. Due to the many amenities available on Church Road, which continues onto Western Road there is high footfall and passing trade.

Usage
The Use Classes Order of 1st September 2020 was introduced to cover commercial, business and service uses. Use Class E includes A1, A2, A3, B1 and some D1 & D2 uses.

Lease
Lease dated 3rd January 2018 for a term of 10 years expiring 19th October 2027. Passing rent £55,000 per annum exclusive.

Rates
Rateable Value £29,500 (2023/24).

VAT
We are advised that VAT is not chargeable on the rental

Additional Information

Note: The information provided about this property does not constitute or form any part of an offer or contract, nor may it be regarded as representations. All interested parties must verify accuracy and your solicitor must verify tenure/lease information, fixtures and fittings and, where the property has been extended/converted, planning/building regulation consents. All dimensions are approximate and quoted for guidance only as are floor plans which are not to scale and their accuracy cannot be confirmed. References to appliances and/or services does not imply that they are necessarily in working order or fit for the purpose.

For further information on this property please call 01273 359000 or e-mail hove@hwestateagents.co.uk