Western Road, Hove

£925,000

Guide price

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.

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