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Mighell Street, Brighton

For Sale

**For Sale by Auction 30th June 2021** A substantial commercial investment comprising 3 office suites totalling 4,036sqft (374.96sqm) let at £87,500pa. There are 9 flats above, which are all sold off on long leases, which provide an additional income of £900pa. The building is situated in an area of Brighton which has seen a huge amount of investment in the past few years with the development of Circus Street and Edward Street Quarter.

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£1,100,000 Guide Price
**For Sale by Auction 30th June 2021** A substantial commercial investment comprising 3 office suites totalling 4,036sqft (374.96sqm) let at £87,500pa. There are 9 flats above, which are all sold off on long leases, which provide an additional income of £900pa. The building is situated in an area ...

£1,100,000

At a glance
  • For Sale by auction 30th June
  • Commercial Investment
  • Three self-contained office suites
  • 4,036sqft
  • Total income £88,400pa
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Property Features

  • For Sale by auction 30th June
  • Commercial Investment
  • Three self-contained office suites
  • 4,036sqft
  • Total income £88,400pa

Property Summary

**For Sale by Auction 30th June 2021** A substantial commercial investment comprising 3 office suites totalling 4,036sqft (374.96sqm) let at £87,500pa. There are 9 flats above, which are all sold off on long leases, which provide an additional income of £900pa. The building is situated in an area of Brighton which has seen a huge amount of investment in the past few years with the development of Circus Street and Edward Street Quarter.

Full Details

**For Sale by Auction 30th June 2021** A substantial commercial investment comprising 3 office suites totalling 4,036sqft (374.96sqm) let at £87,500pa. There are 9 flats above, which are all sold off on long leases, which provide an additional income of £900pa. The building is situated in an area of Brighton which has seen a huge amount of investment in the past few years with the development of Circus Street and Edward Street Quarter.

Upper Ground - Suite 1

700sqft (65.03sqm) Let to Rooms for Therapists Limited for a lease term expiring 4th June 2029 with a tenant only break clause on the 4th June 2024, subject to 6 months prior notice, paying a rent of £15,000pa exclusive.

Lower Ground - East

1,418sqft (131.74sqm) Let to McLaren Construction (South) Limited for a lease term expiring 7th January 2023 with a tenant only break clause on the 8th December 2022, subject to 3 months notice, paying a rent of £24,500pa exclusive. The lease is excluded from sections 24-28 of the Landlord & Tenant Act 1954.

Lower Ground - West

1,918sqft (178.19sqm) Let to Arke Agency Limited for a lease term expiring 16th May 2024 with a tenant only break clause on the 17th May 2022, subject to 6 months notice, at a rent of £48,000pa exclusive.

Residential There are 9 flats over part first, second and third floors which are all sold off on 125 year leases from circa 2019, producing a combined initial ground rent of £900pa.

Freehold The sale of the freehold will be by way of a transfer of 100% share capital in the holding company. This is the only asset the company holds. Further details will be in the legal pack.

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