Description

  • 25 Lock-Up Garages & Store Located to the Rear of a Residential Block
  • All Let Producing £15,600 Per Annum
  • Sought After Central Location
LOCATION The garages are located to the rear of Streete Court located on Victoria Drive between Aldwick Road and Wellington Road. Access is provided by a private drive running along the northern edge of the block. Bognor Regis seafront is less than ¼ mile to the south with Bognor town centre lying 1 mile to the east. The A259 is located closeby providing good road links to Chichester and Southampton to the west and Littlehampton and Brighton to the east. DESCRIPTION 25 garages and store located within two blocks accessed via a private road. The garages are of brick construction with up and over doors. 24 of the garages are currently let at £600 per annum, garage 35 due to its large size is let at £1,000 per annum with the store let at £200 per annum producing a total income of £15,600 per annum offering an excellent investment opportunity.

Solicitors

George Ide Solicitors, 52 North Street, Chichester, PO19 1NQ Tel: 01243 786668 FAO: Lynsey Sizmur-Hall

Accommodation

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TENURE Leasehold, subject to existing tenancies OUTGOINGS All LEASES: Each garage is held on an individual lease commencing on the 29th September 1972 for a period of 99 years with each garage contributing £5 per annum ground rent, a maintenance contribution of 3.23% with a service charge payment of £10 per annum.

Guide Price & Reserves

Generally speaking Guide Prices are provided as an indication of each seller’s minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.