Parsons Son & Basley have recently completed two retail deals in the Brighton area.
After a short bidding war for this delightful unit at 7 Kings Road just off the main seafront in Brighton, terms were agreed for a new five year lease with a rental of £14,000 per annum, far in excess of the market price. Demand for these boutique units within the area continues to build as people’s confidence in the market returns and new business ventures are pursued.
Parsons Son & Basley have also completed the sale of a shop and flat investment at 147 Sackville Road Hove for £340,000. The flat was producing £1,500pcm let on AST with terms agreed for a new tenant on the ground floor shop paying £10,000pa representing a 7.92% net yield for the purchaser.
This type of investment is in high demand from both owner occupiers and investors alike which is continuing to drive the capital price level.
