Toffs Cleaning Centre, 38 Longridge Avenue, Saltdean, Brighton | Property for sale | Savills
Guide price £195,000(100,351 OMR)

Toffs Cleaning Centre38 Longridge Avenue, Saltdean, Brighton

  • New
  • Sole agency
  • Freehold
Investment
Yield 14%Yield

Key features

  • High Yielding Mixed Use Investment
  • Fully Let - Producing £27,000 per annum
  • Development Potential (subject to consents)
  • 2 x Retail Units and Two Bedroom Flat
  • Prominent Corner Pitch
  • Asset Management Potential

High Yielding Mixed-Use Investment Opportunity Comprising 2 x Retail Units and Two Bedroom Flat Fully Let - Producing a Total Rent of £27,000 per annum

About this property

  • The property comprises a high yielding, multi-let, mixed-use investment occupying a prominent corner pitch. Arranged as two ground floor retail units with a single two bedroom flat to the upper parts, the property is let on two separate leases producing a combined £27,000 per annum. The laundrette and upper parts are let on a single lease expiring November 2025 and paying £18,250 per annum. We understand the tenant sublets the flat to the upper parts. The taxi office is let on producing £8,750 per annum and the lease has expired with the tenant holding over. We consider the property has asset management potential via both the renewal of the expired lease and also via separate letting of the retail and residential units upon expiry of the lease. The property occupies a prominent corner pitch with a frontage to Longridge Avenue, which offers the principal local retail amenity for the town. The area is characterised by a mix of residential units and local retail amenity with tenants including Co-op Supermarkets and a post office.