South Street, Lancing

Lancing
For sale by auction

Guide price

£150,000
LOT SOLD

About this property

Property Summary

For Sale By Auction on 24th June 2024

Auction Guide £150,000

High yielding freehold investment let to local covenant trading as convenience store with approximately 19 years of a 20 year lease to run with the next rent review date being during August 2025 at a passing rent of £13,800 per annum.

Situated within this extremely prominent position on the corner of South Street and Brighton Road Lancing immediately opposite the seafront with its many and varying facilities. Shops, Bars and Restaurants compliment as does Lancing Railway Station and Bus services.

All drawings and measurements are approximate and are not to be relied upon.

Please note fees are payable in respect of the sale of this property, please refer to legal pack for details.

Property Features

Property Features

  • For Sale By Auction on 24th June 2025
  • Prominent Corner Main Road Location
  • Let at £13,800 Per Annum with 19 Years of a 20 Year Lease Remaining
  • High Yielding Freehold Commercial Investment
  • Local Covenant Trading as Convenience Store
  • Ideal Income Producing Investment
  • Next Rent Review August 2025
  • Highly Recommended

Auction date and time

24th June 2026

Auction location

The Hove Club
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

Let's Talk

Lot and auction information, viewings and advice

Simon Caplin, Head of Auctions

Simon Caplin

Tel:
01273 762039

Email:
simonc@psandb.co.uk

Lucy

Lucy Rowland

Tel:
01273 762039

Email:
lucyr@psandb.co.uk

Important notice – Pre-registration approaval to bid, guide prices, reserves, additional charges and other matters

Pre-registration approval to bid
PS&B require all bidders who wish to bid at our Auctions to register beforehand. All checks required by current anti-money laundering legislation must be satisfactorily completed as part of this process before prior approval to bid will be given. Please use the links on our website to
pre-register.

Following approval to bid, the buyer named in your registration cannot be changed without consent (for which a charge might be made).

Guide Prices

  1. A guide price (to include a range of prices), is not an indication of the anticipated eventual selling price or a valuation; it is an indication of the minimum price ( “the Reserve” ) at which (or range of prices within which) the seller might be prepared to sell. The eventual sale price can and frequently does, exceed the guide price.
  2. Where a range is given, the Reserve will sit within that range and will not exceed the top end of the range. Where a single figure Guide Price is given, the Reserve will be within 10%, upwards or downwards, of that figure.
  3. The guide price may be subject to change up to and including the day of the auction. The latest published guide price (or range of prices) is displayed on our website and you should check the website regularly for updates and on the day of the auction.
  4. All guide prices are quoted “subject to contract”.
  5. Please note the guide price for the Lot does not include:
    – any Buyers’ Fee charged by the auctioneers;
    – VAT on the sale price;
    – SOLT or any other Government taxes;
    – additional costs and fees charged by the seller or third parties that might apply to some Lots and/or some buyers.
  6. If a guide price is listed as “TBA”, it means no guide price has been set at present. Please do not call our office about this – the guide price, or range of prices, will be published online immediately it becomes available and you should check the auction website regularly for updates and on the day of the auction.

Reserve Prices
The reserve price is the minimum price at which the Lot can be sold.

For more information see Important Notes for Bidders

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