Sold
157-159 Preston Road, Brighton, Sussex
South East
dba149
Office£3,100,000
Tenure: Freehold
Tenancy: Single Let
Investment summary
•The property comprises an office building constructed in the mid 1960’s. The accommodation is arranged over lower ground, ground and four upper floors. Internally, the property provides a mix of open plan and cellular office space. The property benefits from a 6 person passenger lift and has 42 on site car parking spaces to the front and rear of the building. The total net internal floor area is approximately 1,903.50 sq m, (20,486 sq ft).
•At the date of sale the property was let to CGU Insurance Plc producing a rent of £221,000 per annum on a lease for 15.25 years from 29 September 1993 expiring in December 2008.
•Net initial yield 6.7%