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27-29 North Road, , Lancing, BN15 9AH

4,634 Sq Ft / Other

Withdrawn - Last updated: 23 January 2020

Summary

Freehold Investment For Sale

Location

27-29 North Road is located within Lancing town centre on the junction of Penstone Park and North Road. North Road provides the town's principal retailing part and is occupied by local independents, national banks and retailers including W H Smith, Barclays and Pizza Hut.

The property is well situated in the centre of North Road and within 175 yards of Lancings Asda Superstore. Lancing Train Station is located 400 ft to the south and provides a direct service to Brighton. The A27 located under a mile distant to the north provides access to Brighton and Worthing.


The property consists of a three storey building situated within a main retailing parade.  The ground floor accommodation is occupied by Boots UK Limited and comprises a retail area with ancillary office, storage space and a staff room.  The property has a small return frontage onto Penstone Park and there is also side access providing loading facilities.  The residential accommodation is located over and comprises four flats held off long leaseholds which benefit from separate rear access.

Accommodation

The property has the following net internal floor areas:-

Ground Floor  
Retail Area2,562 sq.ft.(238 sq.m.)
Stock Room1,591 sq.ft.(148 sq.m.)
Ancillary Staff & Offices481 sq.ft.(45 sq.m.)
Total Area4,634 sq.ft.(430 sq.m.)

First and Second Floors - Four self contained residential flats sold off on long leasehold interests.

Tenure

Freehold subject to existing leasehold interests.

Income

The property as a whole produces a rental income of £32,760 per annum exclusive.

Business Rates

Ground Floor - £18,600 per annum approx

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