45 EAST STREET & 9/12 CASTLE SQUARE
100% PRIME REVERSIONARY FREEHOLD MIXED-USE INVESTMENT FOR SALE 45 EAST STREET AND 9/12 CASTLE SQUARE | BRIGHTON
INVESTMENT HIGHLIGHTS
zz Brighton is one of the largest retail centres in the UK, with a primary catchment of 515,000 persons and boasts an eclectic and vibrant mix of high end, mass market and boutique retailers. zz Catchment population is expected to grow by 7% by 2023. zz All high-income Acorn Groups over perform, Pre-family 59% above the UK average. Brighton’s average household income is 6% above the UK average. The shopping population is predicted to increase by 7% by 2023. zz Brighton ranks 6th in the UK’s top towns in terms of retail demand (Promis). zz The Brighton Office Market remains tightly supplied and prime office rents are now c. £31per sq. ft. zz Prime location on the corner of East Street and Castle Square. zz Retail/office accommodation of 12,558 sq. ft. zz Over £1 billion on ongoing seafront development and regeneration projects in Brighton. zz Freehold. zz Wault of 6.8 years to expiry and 3.13 years to break. zz Current total income of £415,000 pa. zz Asset management opportunity to convert the self-contained offices to residential use, subject to planning. zz We are instructed to seek offers in excess of £6,750,000 (Six Million Seven Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT for the freehold interest in the subject property. This price reflects an attractive net initial yield of 5.76% and a reversionary yield of 6.03%, assuming standard purchasers’ costs of 6.64%. TOURISM ATTRACTS 10 MILLION VISITORS AND GENERATES c£267 MILLION OF NON GROCERY SPEND 45 EAST STREET AND 9/12 CASTLE SQUARE | BRIGHTON