Commercial Investment For Sale, 51-55 Brighton Road, Worthing, BN11 3EE

A rare opportunity to acquire the freehold of a substantial town centre three storey building.

The property is superbly positioned on Brighton Road close to all Town Centre amenities whilst also benefitting from being a stones throw from the popular Steyne Gardens and seafront.

The ground floor known as 'The Fish Factory' opened in 2001 and is fitted to a high standard to include laminate wooden flooring, pendant lighting, ample electrical points, CCTV (not tested), wall mounted speakers and has superb natural daylight via its impressive window frontage. Externally a canopy provides sheltered seating and tables for paying customers.

The premises comprise of an open plan restaurant area with open commercial kitchen. To the rear of the kitchen is further ancillary storage, preparation and washing up area and a covered lean to store. The premises benefit from three WCs.

Currently the restaurant hosts approx 75 internal seats with further outside seating for 20.

The self contained upper parts comprise of 4 self contained flats which have all been sold off on 125 year leases. Further details are available upon request.

This is seen as an excellent asset management opportunity and viewing is therefore highly recommended.

Location

Worthing with a population in excess of 100,000 is a popular seaside town located in between the cities of Brighton (13 miles east) and Chichester (18 miles west) on the southcoast of England. Worthing is famed for its pier and promenade and both are within 500 yards of the subject property which is situated along Brighton Road in the heart of the town centre. Warwick Street and Brighton Road are known for their versatile choice of independent retailers, drinking establishments and eateries.

A short walk away is Montague Street, Chapel Road and South Street where major retailers such as Boots, Marks & Spencer, H&M and the new Pret A Manger are situated. Worthing mainline railway station with its regular service along the southcoast and north to London (journey time of 1 hour and 25 minutes) is located one mile to the north of the property whilst the town's major bus route is directly outside the property.

Accommodation

The property has the following approximate floor areas:

Dining Area - 1,366 sq ft

Kitchen - 207 sq ft

Secondary Kitchen Area - 87 sq ft

Prep & Washing Area - 136 sq ft

Ancillary Store - 111 sq ft 

TOTAL AREA - 1,907 sq ft

Terms

Terms & Tenancies - The property is available freehold subject to the below mentioned Tenancies.

Ground Floor
The property is let to Ali Tembel & Atilla Colak for a term of 25 years from 31st October 2024. The Lease contains no break clauses. The Landlord has a right to review the rent every 5 years. The current passing rent is £30,000 Per Annum exclusive. The rent rises to £36,000 Per Annum from 31 October 2027.

Upper Floors
The upper parts comprise of 4 self-contained flats which have been sold off on long 125 year leases. Each flat pays a peppercorn ground rent. Further details available upon request.

Guide Price & VAT - £495,000 (Four Hundred & Ninety Five Thousand Pounds)

VAT is not to be charged on the quoting terms

Business Rates - According to the VOA (Valuation Office Agency) the property has a Rateable Value of £20,750. We are verbally informed by the current owners that they have been paying £10,000 per annum. Interested parties are asked to contact Adur & Worthing Councils on 01903 221061 to confirm the exact amount applicable to their business.

Legal Fees - Each party to pay their own legal costs

EPC - C(51)

Anti-Money Laundering - In accordance with Anti-Money Laundering requirements, two forms of identification will be required from the purchaser or tenant and any beneficial owner together with evidence/proof identifying the source of funds being relied upon to complete the transaction

Specification