23 Preston St 660 SF Retail Building Brighton BN1 2HN $511,476 CAD ($774.96 CAD/SF) 8.51% Cap Rate

Brighton is located 22 miles (35?km) south of Crawley, 22 miles (35km) west of Eastbourne, and 14 miles (22km) east of Worthing, with a resident population of approximately 289,000. 23 Preston Street is prominently situated on the western side of this popular, established restaurant and leisure area, just a few minutes from the i360 and the seafront. Nearby occupiers include Wolfox Roastery, Sushi Garden, Bincho, Maggie Mae’s, Kanok Thai, China Garden, and The New Club. Brighton station is a 17-minute walk (0.7 miles) via Western Road, and Regency Square car park (507 spaces) is only a 2-minute walk away. A location plan and street view can be viewed online through Google Maps using postcode BN1?2HN.
The property comprises a commercial premises with the ground floor providing an open-plan beauty salon, while the lower ground floor includes two treatment rooms, a store room, a shower, and a W.C. The property also benefits from a flat above, sold on a long lease. It is held freehold and subject to a tenancy under a lease for a term of six years from 7th June 2022, with a passing rent of £23,400 per annum. Terms and price are available on application, and the property is not elected for VAT.
Business rates are based on a Rateable Value of £17,250 with a Uniform Business Rate of 49.9p (April 2024/25). The total accommodation extends to approximately 660?sq?ft (61.3?sq?m), comprising 455?sq?ft (42.3?sq?m) on the ground floor and 205?sq?ft (19?sq?m) on the lower ground floor. An Energy Performance Certificate can be provided on request. Each party is responsible for their own legal costs, and under the Money Laundering Regulations 2017 (as amended), proof of funds and identity is required.