An opportunity to acquire the freehold interest of 24 lock-up garages and stores occupying a central and convenient location.
The opportunity comprises 17 single garages, 6 smaller stores with metal up and over doors and a larger workshop/store with WC.
The garages are situated in a backland site within a densely populated residential area on the outskirts of Worthing Town Centre. Access is via a private driveway which runs adjacent to no.53 St Georges Road.
We are advised that all of the units are currently let on informal licence agreements producing a gross income of £18,036 per annum.
Garage 1 £55 pcm
Garage 2 £55 pcm
Garage 3 £65 pcm
Garage 4 £35 pcm
Garage 5 £40 pcm
Garage 6 £33 pcm
Garage 7 £35 pcm
Garage 8 £35 pcm
Garage 9 £35 pcm
Garage 10 £65 pcm
Garage 11 £65 pcm
Garage 12 £65 pcm
Garage 13 £65 pcm
Garage 14 £70 pcm
Garage 15 £65 pcm
Garage 16 £70 pcm
Garage 17 £65 pcm
Garage 18 £65 pcm
Garage 19 £65 pcm
Garage 20 £65 pcm
Garage 21 £65 pcm
Garage 22 £70 pcm
Garage 23 £65 pcm
Store 53a £190 pcm
Total Income £1503 pcm (£18,036 pa)
Offers in the region of £275,000 are invited for the Freehold interest, subject to the various tenancy agreements.
Prospective purchasers are asked to submit offers in writing, subject to the following stipulations:
- Offers must include details of any conditions that the offer may be subject to
- The offer must clearly state the price which the applicant is prepared to offer and details of how the purchase is to be funded.
- The Vendors do not bind themselves to accept the highest or any offer received.
The Freehold Title No is WSX265723.
External inspections of the garages can be carried out at any time.