Freehold Commercial Investment For Sale

DESCRIPTION:

An opportunity to purchase a good freehold investment with the benefit of two occupational leases on ground and first floor.

An end terrace building with the ground floor being occupied as a café with the first floor self-contained office being an architect’s practice.

Let on full repairing commercial leases, the gross annual income is £7,600 per annum.

LOCATION:

Worthing is the largest town in West Sussex, located on the coast between Brighton and Chichester.  The town has a resident urban population of approximately 100,000 people and a population of around 500,000 within a 13 mile catchment area.

The property is situated in an established secondary commercial parade comprising multiple shop occupiers, together with offices.  It is located close to West Worthing mainline railway station.  Worthing town centre and the seafront are all within reasonable access.

ACCOMMODATION:

 Ground Floor:

Shop                       Internal Width 11’3

Internal Depth 21’6

Separate W.C.

Gross Internal Area Approx.      242 sq ft

There is rear access to an exterior alleyway and the road

First Floor:            Entrance Hall

Open Plan Office

Tea Point

Separate W.C.

Internal Area Approx.         290 sq ft

TENANCIES:

Ground Floor:

Held on a lease for a term of twelve years from 18 July 2017 at a rent of £4,000 per annum.  Rent due for review:  July 2023 and July 2026.

First Floor:

Held on a lease for a term of six years from 4 December 2019 at a rent of £3,600 per annum.

TENURE:

Freehold

ASKING PRICE:

£105,000

LEGAL FEES:

Each side to bear their own legal costs in the transaction.

VIEWING:

Strictly by prior appointment with Spratt & Son.

ENERGY PERFORMANCE CERTIFICATE:

The Energy Performance Asset Rating

Café                        D

Offices                   B