Description

  • Freehold Investment Opportunity
  • Substantial Corner Plot with Significant Development Potential (STNC) as well as increases to the current rent
  • Currently Arranged as 2 x Retail Units Producing £10,875 Per Annum Highly Sought After High Salvington Location
LOCATION The property is conveniently situated at the top of High Salvington, a sought after residential area close to the South Downs National Park. Local shopping facilities are available in nearby Findon Village with Worthing town centre which is less than 4 miles away providing more comprehensive shopping facilities, mainline railway station and seafront. The A27 and A24 are closeby providing excellent road links to the surrounding areas. DESCRIPTION This single storey property occupies a prominent corner position and is currently arranged as two retail units with a forecourt area to the front affording space for approximately 8-10 cars. The retail units are currently let producing £10,875 per annum. It is considered the site offers the potential for significant re-development subject to necessary consents. ACCOMMODATION Approximate Floor Area: 113 SQ M General Store & Post Office Lease Date: 4th January 1999-3rd January 2009 Sub-Lease: Commencing 2002 and expiring on 31st December 2008 Full repairing and insuring Status: Tenants are currently holding over at a passing rent of £6,875 per annum. Barber Shop Lease: 25th March 2013-24th March 2018 Rent: £4,000 per annum Full repairing and insuring TENURE Freehold subject to existing tenancies.

Solicitors

Bate & Albon Solicitors Office 11, 24 Liverpool Gardens, Worthing, BN11 1RY Tel: 01903 369959 Contact: Chris Albon

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.