37 Western Rd 1,989 SF Retail Building Brighton BN1 2EB $1,255,441 CAD ($631.19 CAD/SF) 7.11% Cap Rate

LOCATION/DESCRIPTION
Brighton is located 22 miles (35 km) south of Crawley, 22 miles (35 km) west of Eastbourne and 14 miles (22 km) east of Worthing. Brighton & Hove has a resident population of 289,000.
Brighton is one of the largest retail centres in the UK, with a primary catchment of 515,000 and a cosmopolitan, vibrant mix of high-end, mass market and boutique retailers.
37 Western Road is prominently situated on the southern side of this main thoroughfare with Churchill Square Shopping Centre and the seafront a few minutes walk. Churchill Square Shopping Centre is now anchored by the recently opened Ikea and has 470,000 sq ft of retail space with 1,600 car spaces.
Brighton rail station is 0.5 miles (13 mins) with regular services to London Victoria and London Bridge (journey time 54 mins).
37 Western Road comprises a ground-floor open-plan sales area with a lower and upper mezzanine at the rear comprising treatment rooms and lower ground floor storage and W.C. This Class E unit is currently trading as a beauty salon.
TENURE
Virtual freehold. Held on a lease dated 20th November 2015 for a term of 999 years at a peppercorn rent.
LEASE
Held on an effective FRI lease dated 12th December 2024 for a term of ten years expiring 27th November 2034. Tenant break option and rent review 28th November 2029, passing rent £48,000 per annum exclusive.
VAT
We are advised that VAT is not chargeable on the rental outgoings.
BUSINESS RATES
RV £38,500 UBR 49.9p (Apr 2025/26).
ENERGY PERFORMANCE CERTIFICATE
Certificate No: 9404-3049-0161-0200-9025, rated 88 D, valid until 27 January 2026.
LEGAL COSTS
Each party to be responsible for own legal costs.
MONEY LAUNDERING REGULATIONS
Under the Money Laundering Regulations 2017 (as amended) we are legally required to obtain proof of funds and identity.