An opportunity to acquire a freehold investment, subject to an existing Lease, in the Conservation
Area of the Ancient Town, forming a Georgian Grade II Listed period building benefiting from recent
overhaul and currently comprising a double fronted ground floor retail unit and the Freehold of the
building. Current business Lease is unaffected and so this is an Investment purchase.
The property occupies a prominent
position in the centre of the High Street in the Conservation Area of the Ancient
Town and Cinque Port of Rye, renowned for its historical associations, medieval
fortifications and fine period architecture. As well as its charm and history, the
town has a comprehensive range of shopping facilities and an active local
community, with the arts being strongly represented; Rye Arts Festival and Rye
International Jazz Festival are both held annually and a two screen cinema
complex is available in Lion Street. From the town there are local train services
to Eastbourne and to Ashford International with high speed connections to
London St Pancras (37 minutes) and from there to Paris, Brussels and
Amsterdam via Eurostar. Sporting facilities in the area include a leisure centre,
lawn tennis club, sailing at Rye Harbour and numerous golf courses within a 15
mile radius. Rye is also located on the edges of the High Weald Area of
Outstanding Natural Beauty and Romney Marsh, as well as being a short drive
from 7 miles of sandy beaches and dunes, affording local residents many fine
countryside and coastal walks.
CURRENT BUSINESS UNAFFECTED. A Grade II Listed property under Reference 1252165 with Mathematical tiles on timber frame. Parapet, glazing bars intact above ground floor. Modern (1971) shop front benefiting from recent refurbishment by the current Tenant. The roof was overhauled in 2013 and the lower ground floor drainage was overhauled in 2023. To the rear of the property there is small area offering a fire exit and a small shed. There is a cellar though this is limited to services.
The existing occupant of 86 High Street hold a 10 year lease from June 2021 with a five year break although neither party intends to use the break and so the business remains unaffected in this investment sale of the shop and Freehold interest. Details of recently completed maintenance works are available to interested parties. Viewings by appointment only via the Agent Phillips and Stubbs.
Local authority: Rother District Council. 01424 787752
Predicted mobile phone coverage: EE and Three
Broadband speed: Superfast 80Mbps available. Source Ofcom
River and Sea Flood risk summary: Very low risk. Source GOV.UK
Business Rates Payable: £27,500pa (Payable by Tenant)
Current Uniform Business Rate multiplier: 49.9P
Retail shop: EPC rating C – Expires May 2031
Ground Rent currently paid is £100 per annum per flat.
Each of the Leasehold Flats above the Premises pays 30% of the Buildings
Insurance Premium. The shop pays 40% of the Buildings Insurance Premium.
There is no sinking fund in place for maintenance and so any future maintenance
is to be agreed on an-ad hoc arrangement with the flats paying 30% each and
the shop paying 40%. Freeholder would arrange relevant quotes accordingly.
The commercial tenant maintains there
View EPC
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