Freehold Investment and Development Opportunity

5 Montague Place, Worthing, BN11 3DD

Quick Summary

£500,000 Price Description: Guide Price Units: 1 Floors: 4 Area: 1600 sq ft Type: Commercial, Development, Investment, Retail Status: Sale Rooms: 10

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Property Description

Spratt and Son are delighted to bring to the market a freehold investment and development opportunity situated in the heart of Worthing Town Centre.

The 4 storey property has internal accommodation comprising ground floor retail space together with ancillary office/storage arranged over the first, second and third floors.

The building is currently subject to a 15 year lease which expires in December 2018, however the retail aspect is considered suitable for a variety of occupiers whilst the upper parts offer excellent potential for residential conversion, subject to obtaining any necessary planning consents.

Viewing is strongly recommended, please call for further information.

 

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 subject property occupies a convenient and central location in Montague Place within the heart of the Town Centre’s main shopping precinct with its mix of high street and independent retailers, restaurants, cafes and bars.

The seafront and promenade are within 100 meters, Worthing Mainline Railway Station is approximately one mile distant and bus services run nearby from Marine Parade and South Street.

The location is considered to be popular with both commercial and residential occupiers alike.

 

ACCOMMODATION:

The accommodation with approximate measurements comprises:

 

Ground Floor Retail

Maximum overall width             15’7

Maximum overall depth             35’7

Approximate internal area          555 sq ft

 

Disabled Access WC 

Unmeasured

 

Ground Floor Kitchen/Staffroom

Maximum overall width             11’9

Maximum overall depth             10’9

Approximate internal area          105 sq ft

 

Ground Floor Store

Maximum overall width             4’9

Maximum overall depth             7’10

Approximate internal area          37 sq ft

 

Ground Floor Ladies WC

Unmeasured

 

Ground Floor Gents WC

Unmeasured

 

First Floor Office/Kitchen

Maximum overall width             15’9

Maximum overall depth             10’1

Approximate internal area          158 sq ft

 

First Floor Middle Room (North)

Maximum overall width             7’4

Maximum overall depth             5’9

Approximate internal area          42 sq ft

 

First Floor Middle Room (South)

Maximum overall width             7’4

Maximum overall depth             14’6

Approximate internal area          100 sq ft

 

Second Floor Front

Maximum overall width             16’10

Maximum overall depth             12’3

Approximate internal area          170 sq ft

 

Second Floor Rear

Maximum overall width             12’7

Maximum overall depth             10’9

Approximate internal area          135 sq ft

 

Third Floor Front

Maximum overall width             16’

Maximum overall depth             12’4

Approximate internal area          197 sq ft

 

 

Third Floor Bathroom

Maximum overall width             4’10

Maximum overall depth             9’7

Approximate internal area          46 sq ft

 

Third Floor WC

Unmeasured

 

Attic Room

Unmeasured

 

COMMERCIAL LEASE:

The building is subject to a 15 year lease from December 2003, expiring in December 2018.

 

The current tenant, Ladbrokes Coral Group Ltd, have ceased occupation of the property.  Further lease details are available upon request.

 

TERMS:

Offers are invited for the Freehold interest at a Guide Price of £500,000, subject to contract.

 

VIEWING:

Strictly by prior appointment only.

 

ENERGY PERFORMANCE CERTIFICATE:

The Energy Performance Asset Rating for the building is E.

Copies of the EPC and Recommendation Report are available upon request.

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