Old Steine, Brighton, East Sussex, BN11EL for SALE
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Prestigious Freehold Residential Development 23 – 24 Opportunity Old Steine, Brighton, East Sussex, BN11EL FOR SALE 2 adjoining freehold buildings in the historic centre of Brighton between the seafront and the Royal Pavilion overlooking Steine Gardens Prime City Centre Location Currently in mixed use with 6,648 sq ft (617 sq m) offices in 7 self contained suites plus 2 residential units Rear car parking (5 spaces) Consent for a total of 11 spacious residential units, 8 with balcony or terrace, in total 8,395 sq ft (780 sq m) Guide price £1.9 Million BRIGHTON The city of Brighton and Hove in Sussex is a major commercial, cultural and tourist destination approximately 56 miles south of London and 30 miles from Gatwick Airport. 8 fast trains an hour to London Victoria (53 minutes) or Thameslink to the City and Kings Cross St Pancras International. Dynamic economy with the fourth fastest employment growth and the fourteenth highest population growth of all UK cities in recent years. (Source: Centre For Cities) SITUATION The buildings are located on the eastern side of Old Steine, a prominent location in the heart of Brighton City centre and within 100 yards of the seafront. The buildings overlook Steine Gardens to the front and the rear is vehicular access for private parking via Steine Street. Within walking distance of all the attractive facilities of central Brighton including The Lanes and North Laine boutique shopping areas, restaurants, theatres, cinemas and clubs. Brighton station is 0.7 miles away. TENANCIES The property is subject to multiple tenancies as outlined below. Copies of the leases are made available on our microsite http://property.shw.co.uk/Old Steine/Overview detailed within Further Information. TENANCIES The property is currently in mixed use with 6,648 sq ft (617 sq m) offices in 7 self contained suites plus 2 residential units on the upper floors. There are currently 5 office tenants with a combined rent of £59,250 per annum plus £25,200 from 2 Assured Shorthold Tenancy (AST) agreements. All commercial tenancies held subject to new leases, outside of the Landlord and Tenant Act 1954, all expiring 30th June 2016 with no statutory compensation payable. See microsite http://property.shw.co.uk/Old%20Steine/Overview for lease synopsis. PROPOSED ACCOMMODATION The buildings benefit from planning permission and Listed Building consent as follows: 23 Old Steine, Brighton Floor Description Accommodation (m2) Accommodation (ft2) Lower Ground 2 Bedroom Flat with rear patio 74 797 Ground 2 Bedroom flat 64 689 First 1 Bedroom flat with balcony 67 721 Second 1 Bedroom flat 67 721 Third & Fourth 3 Bedroom maisonette with rear terrace (existing) 101 1,087 24 Old Steine, Brighton Floor Description Accommodation (m2) Accommodation (ft2) Lower Ground 3 Bedroom flat with rear patio 89 958 Ground 2 Bedroom flat with balcony 75 807 First 2 Bedroom flat with front and rear balconies 67 721 Second 2 Bedroom flat 67 721 Third 2 Bedroom flat with rear terrace 56 603 Fourth 2 Bedroom flat with rear terrace (rebuilt in 2007) (existing) 53 570 Total 780 8,395 picture here picture here PLANNING The buildings have planning permission (REF: BH2014/02973) and Listed Building consent for the following in addition to the existing 3 bedroom maisonette and two bedroom flat • One 3 Bedroom Apartment • Six 2 Bedroom Apartments BRIGHTON STATION • Two 1 Bedroom Apartments • 4 Car parking spaces LEGAL COSTS NORTH LAINE Each party is to be responsible for their own legal fees. VAT The properties are subject to an option to tax. AMEX CHURCHILL SQUARE ROYAL PAVILION OFFER BASIS THE LANES BA i360 23/24 OLD STEINE Offers invited for the freehold interest. The client will consider offers subject to early exchange with delayed completion on expiry of the current office tenancies in June 2016. Guide price £1.9 Million. DISCLOSURE Section 21 of the Estate Agents Act 1979 – one director of the vendor company is a Partner of Stiles Harold Williams. BRIGHTON PIER FURTHER INFORMATION Visit http://property.shw.co.uk/Old%20Steine/Overview for the following information: • Leases VIEWING CONTACT • Planning drawings • Title extract Strictly through the sole Russell Smith • Decision notice agents Stiles Harold Williams 01293 441331 • Listed Building consent Email: [email protected] • EPCs - Ratings range from D96 to G151 for the commercial parts and D60 to E48 for the existing residential units Peter Coldbreath • Asbestos report - To be added shortly 01293 441309 Email: [email protected] Notice: Stiles Harold Williams for themselves and for the vendors or lessors of this property, whose agents they are, give notice that: (i) these particulars do not constitute, nor constitute any part of, an offer or a contract. (ii) all statements contained in these particulars as to this property are made without responsibility on the part of Stiles Harold Williams or the vendors or lessors. (iii) none of the statements contained in these particulars as to this property are to be relied on as statements or representations of fact. (iv) any intending purchasers or lessees must satisfy themselves by inspection or otherwise, as to the correctness of each of the statements contained in these particulars. (v) the vendors or lessors do not make or give, and Stiles Harold Williams nor any person in their employment has any authority to make or give, any representation or warranty whatever in 23 – 24 relation to this property. January 2016..