The property is an imposing landmark, detached, building. It provides approximately 47,582 sq ft (GIA) of retail and office accommodation arranged over five levels, basement to third floor level.
The property was developed by Barclays for their own occupation in the late 1950's. Today they occupy the ground, basement, first and part second floor. The other upper floor areas are in office uses, with self-contained independent access on Portland Street. There is a self contained office suite accessed off of King Place, which also connects
to the main building.
There is parking accessed via both King Place and Portland Street, providing a total of up to 12 spaces currently demised to Barclays Bank.
( Agency Pilot Software ref: 5525 )
Location
Brighton is located in East Sussex, on the south coast of England, 52 miles south of London. The city enjoys excellent communications, linked to London via the A23/M23 and to the city of Portsmouth via the A27. Brighton benefits from excellent rail connectivity. Mainline services to London Victoria, Farringdon (Elizabeth Line) and St Pancras International with a fastest journey time of only 54 minutes and 5 services per hour at peak times. East and West Coastway lines provide frequent services across the South East. Gatwick Airport, the UK’s second largest airport, is located 29 miles to the north. It is readily accessible from Brighton via the Gatwick Express and M23
Accommodation
47,582 sq ft GIA
Terms
DEVELOPMENT POTENTIAL The property offers a rare and significant mixed use redevelopment opportunity with a plethora of possibilities. With striking character, extensive natural light and high quality open plan ground floor accommodation, the property offers flagship credentials across retail, leisure and other uses. A thriving talent pool, notable student population and a buoyant tourist industry drive high values in living and hotel sector uses providing possibilities to drive value from the upper floors (subject to planning). Three of the four occupier leases are outside the security of tenure provisions of the L&T Act 1954. With consented redevelopment plans, vacant possession could then be obtained.
TENURE The property is held Freehold.
SERVICE CHARGE Maintenance of the property is funded by an annual service charge expiring 24th December each year. The budget for the year ending December 2025 is £202,813 (approx. £6psf), which includes £200,000 of exceptional works (£100,000 of which has been accrued from 2024
TENANCY The property is currently let on four tenancies producing a net income of £588,125 per annum (plus sub station).
Specification
• Freehold, mixed use development opportunity
• Short term income
• Potential for vertical development (STP)
• Brighton - one of the South Coast's leading commercial centres