freehold retail investment for sale
FREEHOLD RETAIL INVESTMENT FOR SALE CURRENTLY PRODUCING AN INCOME OF £21,500 PER ANNUM
*15 YEAR LEASE FROM 23rd AUGUST 2017*
CENTRAL WORTHING TOWN CENTRE LOCATION
111 MONTAGUE STREET WORTHING, WEST SUSSEX BN11 3BP Henry Adams (Horsham) LLP 50 Carfax, Horsham, West Sussex RH12 1BP 01403 282519 [email protected] henryadams.co.uk Residential / Commercial / Rural / Development / Auctions Robert Crawford Clarke BSc AGRIC MRICS Howard Ball MNAEA MARLA Consultant: Eddie Jenkinson BA (Hons) MRICS IRRV. Henry Adams (Horsham) LLP is a limited liability partnership which operates under licence and is independently owned. Registered in England and Wales No. OC339620. Registered office 50 Carfax, Horsham RH12 1BP. VAT No. 938 6934 67 Regulated by the RICS (Royal Institution of Chartered Surveyors)
LOCATION Worthing is a bustling seaside resort located on the Sussex coast, between Brighton & Hove and Chichester, which lie approximately 11 miles and 18 miles to the east and west respectively. The town has an urban population of approximately 100,000 and a catchment area of 250,000 and is an established and prosperous commercial centre with fast direct access to the A24, A23 and M23 via the east/west main A27. Worthing has two railway stations offering direct rail services to London, Gatwick Airport, Brighton & Hove and Chichester. The subject property is located on the southern side of Montague Street between West Buildings and New Street in a well-established pedestrianised commercial thoroughfare. Nearby multiple retailers include Poundland, Body Shop, The Card Factory, Oxfam, Millets, Londis, Marie Curie, Early Learning Centre and Mr Simms. The promenade, Worthing Pier and main shopping thoroughfares are all within a 0.5 mile walking distance of subject property. A location plan and street view can be viewed online through Google Maps by typing in the property’s postcode BN11 3BP
DESCRIPTION A mid-terrace two storey building currently arranged as a ground floor shop and with ancillary storage above. There is an internal staircase to the first floor which is accessed via the rear of the ground floor shop. The first floor comprises two WCs, two storage cupboards and a staff room. This area has a laminate vinyl floor with a metal framed, suspended ceiling. The ceiling has polystyrene ceiling tiles, fluorescent strip lighting and heat detectors. The upper floors have timber framed, single glazed sash windows to the front. TENANCY The property is let to Greggs PLC on a 15 year full repairing and insuring lease term from the 23rd August 2017 at a rent of £21,500 per annum exclusive. The lease is subject to 5th yearly rent reviews. The tenant has break options at the 5th and 10th year anniversaries. TENURE Freehold interest, subject to the above tenancy. PRICE £375,000 VAT STATUS We are advised that the property is VAT exempt. VIEWING ARRANGEMENTS By appointment with sole selling agents - Henry Adams Commercial, 50 Carfax, Horsham RH12 1BP CONTACT Andrew Mark Algar – Head of Commercial Property 01403 282 519 07868 434 449 [email protected]
LOCATION MAP – NOT TO SCALE
Agent’s Notice – We endeavour to make our particulars as accurate and reliable as possible. They are for guidance only and are intended to give a fair overall summary of the property. They do not form part of any contract or offer and should not be relied upon as a statement or representation of fact. Measurements, areas, plans and distances are approximate only. Photographs and computer generated images show only certain parts and aspects of the property at the time they were taken or created. Neither Henry Adams Horsham LLP nor any of its employees has any authority to make or give any representation or warranty whatsoever in relation to the property. No undertaking is given as to the structural condition of the property or any necessary consents or the operating ability or efficiency of any service system or appliance. Intending purchasers or lessees must satisfy themselves with regard to each of these points. Unless otherwise stated, all prices and rents are quoted exclusive of VAT. Any intending purchasers or lessees must satisfy themselves as to the incidence of VAT in respect of any transaction.
*15 YEAR LEASE FROM 23rd AUGUST 2017*
CENTRAL WORTHING TOWN CENTRE LOCATION
111 MONTAGUE STREET WORTHING, WEST SUSSEX BN11 3BP Henry Adams (Horsham) LLP 50 Carfax, Horsham, West Sussex RH12 1BP 01403 282519 [email protected] henryadams.co.uk Residential / Commercial / Rural / Development / Auctions Robert Crawford Clarke BSc AGRIC MRICS Howard Ball MNAEA MARLA Consultant: Eddie Jenkinson BA (Hons) MRICS IRRV. Henry Adams (Horsham) LLP is a limited liability partnership which operates under licence and is independently owned. Registered in England and Wales No. OC339620. Registered office 50 Carfax, Horsham RH12 1BP. VAT No. 938 6934 67 Regulated by the RICS (Royal Institution of Chartered Surveyors)
LOCATION Worthing is a bustling seaside resort located on the Sussex coast, between Brighton & Hove and Chichester, which lie approximately 11 miles and 18 miles to the east and west respectively. The town has an urban population of approximately 100,000 and a catchment area of 250,000 and is an established and prosperous commercial centre with fast direct access to the A24, A23 and M23 via the east/west main A27. Worthing has two railway stations offering direct rail services to London, Gatwick Airport, Brighton & Hove and Chichester. The subject property is located on the southern side of Montague Street between West Buildings and New Street in a well-established pedestrianised commercial thoroughfare. Nearby multiple retailers include Poundland, Body Shop, The Card Factory, Oxfam, Millets, Londis, Marie Curie, Early Learning Centre and Mr Simms. The promenade, Worthing Pier and main shopping thoroughfares are all within a 0.5 mile walking distance of subject property. A location plan and street view can be viewed online through Google Maps by typing in the property’s postcode BN11 3BP
DESCRIPTION A mid-terrace two storey building currently arranged as a ground floor shop and with ancillary storage above. There is an internal staircase to the first floor which is accessed via the rear of the ground floor shop. The first floor comprises two WCs, two storage cupboards and a staff room. This area has a laminate vinyl floor with a metal framed, suspended ceiling. The ceiling has polystyrene ceiling tiles, fluorescent strip lighting and heat detectors. The upper floors have timber framed, single glazed sash windows to the front. TENANCY The property is let to Greggs PLC on a 15 year full repairing and insuring lease term from the 23rd August 2017 at a rent of £21,500 per annum exclusive. The lease is subject to 5th yearly rent reviews. The tenant has break options at the 5th and 10th year anniversaries. TENURE Freehold interest, subject to the above tenancy. PRICE £375,000 VAT STATUS We are advised that the property is VAT exempt. VIEWING ARRANGEMENTS By appointment with sole selling agents - Henry Adams Commercial, 50 Carfax, Horsham RH12 1BP CONTACT Andrew Mark Algar – Head of Commercial Property 01403 282 519 07868 434 449 [email protected]
LOCATION MAP – NOT TO SCALE
Agent’s Notice – We endeavour to make our particulars as accurate and reliable as possible. They are for guidance only and are intended to give a fair overall summary of the property. They do not form part of any contract or offer and should not be relied upon as a statement or representation of fact. Measurements, areas, plans and distances are approximate only. Photographs and computer generated images show only certain parts and aspects of the property at the time they were taken or created. Neither Henry Adams Horsham LLP nor any of its employees has any authority to make or give any representation or warranty whatsoever in relation to the property. No undertaking is given as to the structural condition of the property or any necessary consents or the operating ability or efficiency of any service system or appliance. Intending purchasers or lessees must satisfy themselves with regard to each of these points. Unless otherwise stated, all prices and rents are quoted exclusive of VAT. Any intending purchasers or lessees must satisfy themselves as to the incidence of VAT in respect of any transaction.
