Description

Location
The property is located within the busy Felpham village having excellent passing trade and a lot of through traffic from the local community, offering an excellent village feel.

Felpham is just outside the main Bognor Town centre and also benefits from trade from the Butlin’s development just around the corner from the village.

Description
The property comprises a mixed use investment of three ground floor retail units, a two bedroom flat on the first floor and two garages at the rear of the parade.

Shop 1 – Let to Corals, Rent- £12,250pa
Shop 2 – Let as hair salon, Rent – £10,000pa
Shop 3 – Vacant – To Let for – £10,000pa
Flat 1 – Sold on 125yr lease from June 1991 – £80pa Ground Rent
Flat 2 – Let on AST for 1 year from June 2018 Rent – £740pcm
Flat 3 – Sold on 125yr lease from June 1991 – £80pa Ground Rent
Garage 2 – Let on licence Rent – £832pa
Garage 3 – Let on licence Rent- £936pa
Total current income £33,058pa (Potential to improve to £43,058pa)

Full lease documents are available for interested parties to view on request.

Freehold
Offers are invited in the region of £425,000 for the freehold interest in the property, subject to the existing leases.

Service Charge
Service charge accounts are available on request for interested parties,

Legal Costs
Each party will be responsible for their own costs incurred in relation to the transaction.

EPC
EPC’s are available for interested parties to view on request.

VAT
May be chargeable on this transaction, interested parties must make their own enquiries to confirm.

Viewing
Strictly by appointment with SOLE AGENTS, PARSONS SON AND BASLEY