Description

LOCATION
Bognor Regis is a popular tourist and holiday destination in West Sussex, located some 8 miles south-east of Chichester and some 16 miles east of Portsmouth.

This attractive property is located in a mixed use area, within 0.5 miles west of Bognor Regis town centre and Leisure Pier, on the north side of Aldwick Road, Bognor Regis Rail Station lies some 0.7 miles north-east of the property. Occupiers close by include Tesco Express and along with a range of local businesses.

DESCRIPTION
Attractive unbroken freehold mixed use investment building, arranged providing 7 x ground floor shops with 12 x self-contained flats above at first and second floor level. Comprising of 10x two beds and 2x one beds, accessed via their own seperate entrances via Aldwick Road with parking for each unit to the rear in a private car park.

Several of the flats have recently undergone full refurbishment and rents have all recently been improved on the residential units to average around £800pcm for the two bed properties.

The current rental income totals £151,740.00pa across the shops and flats, a full tenancy schedule is availble for interested parties to view upon request.

PRICE
Offers are invited in the region of £2,000,000 for the freehold interest subject to the existing tenancies in place.

A purchase at this level would provide a gross yield of 7.59% before purchase costs.

LEGAL COSTS
Each party will be responsible for their own legal costs in relation to this transaction, however an undertaking will be required for the vendors costs should the transaction be aborted.

EPC
EPC reports are available, for all interested parties to view on request.

VAT
Will not be chargeable on this transaction, interested parties must make their own enquiries to confirm.

VIEWING
Strictly by appointment only with Sole Agents PARSONS SON AND BASLEY –
Contact: Richard Lowrey
Tel: 01273-274028
Mob: 07725723021
Email: richardlowrey@psandb.co.uk