Summary - 220-221, HIGH STREET BN7 2AF
1 bed 1 bath Retail Property (high street)
Prime Lewes shop let to Waterstones with strong yield and long lease.
Grade II listed, prominent Caen stone façade
An uncommon freehold opportunity in Lewes town centre, this Grade II listed property occupies a pedestrianised, high-footfall position on the High Street. The ground floor is let to Waterstones (in occupation since 2014) on a newly renewed lease, providing immediate income and a quoted net initial yield of 8.67% at the guide level.
The building is substantial (approximately 2,718 sqft overall) with a historic Caen stone façade and high Georgian windows that deliver clear street presence. An external repairs programme has recently been completed, reducing immediate capital expenditure on the exterior. Lewes benefits from strong retail demand, a broad tenant mix and good rail links to Brighton, Eastbourne and London, supporting continued footfall.
Buyers should note material considerations: the Grade II listing will restrict alterations and may increase costs for any works; the site records a medium flood risk and local crime statistics are higher than average. The upper parts comprise converted apartments, and while the freehold includes the whole building, any change of use or significant refurbishment will require specialist listed-building consents.
This asset suits a buyer seeking secure, town-centre rental income with upside from long-term asset management within a protected historic façade. It offers a clear income profile now and potential for value through hands-on stewardship — provided the buyer is prepared to work within listed-building constraints and to manage site-specific risks.
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