Acting on behalf of Palace Capital, Flude Property Consultants were instructed to sell Pelham House; a prominent mixed use corner property in the popular North Laine area of Brighton.
The property comprises a Grade II listed building arranged as a double fronted shop to the ground floor with basement stores. A separate entrance from Pelham Square provides access to self-contained office accommodation arranged from lower ground to 3rd floors. The property was let to 4 different office tenants and with a single retail tenant to the ground floor.
The building sold to a Sussex based family run Investment Company for £1.6m, reflecting a Net Initial Yield of 6.34%.
Flude Director, Andrew Halfacree, commented, “Pelham House is an attractive and versatile building offering the flexibility for multiple lettings. The North Laine continues to be a popular retail and office location. The sale of this building rightly demonstrates the ongoing confidence on the Brighton office market”.
