Freehold Ground Rents & Town Centre Car Parking For Sale

9 Shelley Road, Worthing, BN11 1TU

Quick Summary

£35,000 Price Description: Offers in Excess of Income: £3320 Units: 4 Floors: 2 Type: Commercial, Investment Status: Under Offer Parking: 4

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Property Description

An opportunity to purchase the freehold interest of large house converted into four flats together with four car parking spaces.

The flats have all been sold off on long leaseholds and the car parking spaces are let on flexible monthly terms.

There is also a large roof space which is not demised to any of the flats which could provide future development opportunities, subject to obtaining any necessary consent.

Please call for further details.

 

LOCATION:

The property occupies a prominent location on the corner of Shelley Road and Buckingham Road, within the heart of Worthing Town Centre.

The main pedestrianised shopping precinct of Montague Street is close by and there are several commercial office occupiers within the vicinity. Worthing Railway Station is approximately half a mile distant.

 

ACCOMMODATION & INCOME:

 

Car Park:

The property benefits from four car parking spaces with direct access onto Shelley Road. All four spaces are currently let on monthly Licence Agreements with a combined income of £235 pcm.

 

Ground Floor Flat 1:

1 Bedroom Flat

99 year lease from December 2014

Ground Rent £100 per annum

 

Ground Floor Flat 2:

Studio Flat

149 year lease from December 1986

Ground Rent £200 per annum

 

First Floor Flat 3:

1 Bedroom Flat

189 year lease from December 1986

Ground Rent peppercorn

 

First Floor Flat 4:

1 Bedroom Flat

104 year lease from March 2008

Ground Rent £200 per annum

 

ANNUAL INCOME:

The gross annual income for the property currently stands at £3,320.

 

TENURE:

Freehold, subject to the various leases and Licence Agreements.

 

GUIDE PRICE:

Offers are invited in excess of £35,000 for the Freehold interest.

 

LEGAL FEES:

Each side are to be responsible for their own legal costs unless otherwise negotiated prior to entering into an agreement.

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