Commercial Property

Location

Brighton is located 56 miles (90 km) south of London and 25 miles west of Eastbourne. 22 miles (35 km) south of Crawley & Gatwick Airport, 22 miles (35 km) west of Eastbourne and 14 miles (22 km) east of Worthing. Brighton & Hove has a resident population of 289,000.

13 Prince Albert Street is prominently located adjacent to The Lanes with numerous retail, leisure and restaurant occupiers close by.

Churchill Square Shopping Centre (7 mins, 480 m) and the popular North Laine 150m.

Brighton Station is 14 minutes walk (1,500m) via Queens Road and Brighton seafront (4 mins).

A location plan and street view can be viewed online through Google Maps by typing in the following postcode: BN1 1HE.

Description

13 Prince Albert Street comprises the Shogun Ramen restaurant arranged over the ground and lower ground floors with rear garden.

The first and second floors were formerly occupied by a charity and is now vacant. The offices can be converted to form 2 one bed flats (STNC).

Planning consent was previously granted for a three bed maisonette.

Price/Rent

Offers in the region of £575,000, 7.45% net initial yield.

Tenure Comments

Freehold subject to tenancy.

Tenancy

Ground and lower ground floors held on an FRI lease for a term of ten years commencing 4th February 2024, lease expiry 17th May 2030 with a tenant only break option on 18th May 2028. The passing rent is £41,000 per annum exclusive.

TENANT INFORMATION

Samuel Cheung (Shogun Ramen)

In occupation since 2014 and has a number of restaurants trading as Sushi Mania in Brighton, Reading and London. Website sushimania.co.uk

The first and second floors will be vacant from 13th March 2026.

EPC

Ground & Lower Ground Floors: Certificate No: 0380-0233-6729-1227-0006, rated 78 D, valid until 28th March 2027.

First & Second Floors: Certificate No: 0270-8955-0343-3300-3080, rated 84 D, valid until 28th March 2027.

Rates Comments

Ground & Lower Ground Floors: RV £33,750 UBR 49.9 p in the £ April 2025/26

First & Second Floors: RV £14,750 UBR 49.9 p in the £ April 2025/26

VAT

We are advised that the property is elected for VAT.

Legal Costs

Each side will be responsible for their 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.

Additional Information

PLANNING

BH2017/00063 Conversion of first and second floor offices (B1) to three bedroom residential maisonette (C3) with internal alterations to layout and associated works. Planning consent dated 15th March 2017.