A rare opportunity to purchase the freehold of a 3 storey Victorian mid terrace property comprising of a deceptively large ground floor retail premises with three self contained sold off flats at first, second and third floors. The ground floor retail premises has traded as an Eastern European Supermarket for over 5 years and benefits from tiled flooring, 22ft double glazed frontage, CCTV, ample electrical points and suspended ceiling with LED lighting. The ground floor is largely open plan with rear store / office with WC.
The upper floor flats which have been sold off are self contained with access from the rear of the property.
Location
Beach Road is a popular secondary shopping location in the heart of Littlehampton, close to the junction with East Street and the main High Street. Nearby commercial occupiers include Ladbrokes, Lidl, Costa Coffee and Boots. Beach Road is home to a handful of independent retailers, office occupiers and restaurants and in more recent times has undergone significant regeneration, with new street furniture and paving. Littlehampton mainline railway station with its regular services along the coast and north to London (journey 1hour 45 minutes) is located approximately 0.25 miles from the subject property. The A259 coast road which has links to the A27 trunk road is located approximately 1.5 miles to the north. Littlehampton is a popular seaside town with a population in excess of 30,000 and is situated in between the cathedral city of Chichester (13 miles west) and the popular seaside resort of Worthing (9 miles east).
Terms
The property is available freehold subject to the below mentioned tenancy.
The ground floor is let to Virgis Silas Limited for a term of 15 years from 29th September 2017 at a passing rent of £14,000 Per Annum exclusive. The Tenant has no rights to break from the lease whilst the next open market rent review is in September 2027. A full copy of the Lease is available to serious applicants upon request.
The upper floor residential flats (x3) are sold off on a long leasehold basis with each paying £100 per annum in respect of ground rent.