Christie & Co instructed to market prominent retail & residential investment opportunity in Rye
Specialist hotel property adviser, Christie & Co, has been appointed to market a high-profile retail and residential investment opportunity in the popular and attractive coastal town of Rye, East Sussex.
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The property comprises a three-storey mixed use retail and residential building fronting the A259 adjacent to Rye town centre. This is a wonderful prominent location overlooking the quayside and close to a large town centre pay and display car park which generates high footfall.
The residential space comprises five apartments, currently let with a combined rent of £74,500 per annum. The ground floor retail space / restaurant offers excellent potential for splitting and conversion to let to a national retail chain. The site also features a fish and chip shop that has been operating for over 22 years, with advised weekly sales of c£7000. Additionally, there is lapsed planning permission for another two-bedroom flat.
James Matson, Senior Business Broker at Christie & Co who is handling the sale comments, “This is an excellent opportunity to purchase a large, prominent freehold investment with scope to increase the rental potential. I believe the retail space could make an excellent convenience store. The price recently been reduced to offers in excess of £1.650,000.”
For further information on this press release, contact:
Bronte Hughes, Corporate Communications Manager
M: +44 (0) 7721 420 656 or E: bronte.hughes@christie.com
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