Dial House is a Grade II Listed heritage property at 220-221 High Street and is being sold through Stiles Harold Williams (SHW) for offers over £550,000.
The listing at property.shw.co.uk said the property boasts 2,718 square feet and has a newly renewed lease.
It added that an external repairs programme has recently been completed at the freehold property.
The brochure describes the building as a ‘well let retail investment’. It said: “Dial House is an important, elegant, Listed building built with a Caen stone façade at ground and first floor levels on the southern elevation. Originally constructed as a house, and later used as offices, the upper parts have been converted into ten apartments and the ground floor is in retail use.”
The property was built in the mid 18th century and, according to Lewes History Group, it was recorded in 1789 as being owned by the Quaker corn merchant Thomas Rickman. The history group said it became a Quaker school for young ladies from 1826 and by 1882 it was the office of the solicitor Edward Hillman.
The building is known in town for its metal sundial, which is dated 1824. The British Sundial Society said this was restored in January 2009 and has the words ‘nosce teipsum’ on it, which translate to ’know thyself’.
Waterstones has been in occupation since 2014. SHW’s brouchure said: “The ground floor is let to Waterstones Booksellers Ltd, on a newly renewed FRI lease which runs until 31/01/2030 with no break option.”
It said the book shop’s passing rent is £48,500 per annum, which is paid monthly in advance. It added: “In 2014, the the apartments were ‘sold off’ on 125 leases at ground rent of £150 per annum per lease, making a total ground rent of £1,500 per annum. The total rent is therefore £50,000 per annum.”
5. Dial House
The property dates back to the mid 18th century Photo: SHW, Brighton