This freehold property comprises of an attractive and deceptive vacant ground floor retail premises with sold off upper parts situated in one of Worthing's most popular commercial streets. The property provides open plan retail accommodation over lower and upper ground floor levels with an attractive entrance area directly off Warwick Street. Benefitting from traditional wooden floorboards to the upper ground floor and concrete flooring to the lower ground floor, various LED lighting, ample electrical points with a WC located at the rear. The property also has an attractive 20ft single glazed window frontage whilst further benefitting from its own electric and water supply.
Despite having traded as a popular clothing retailer for over a decade the property would suit a variety of commercial uses, subject to obtaining any consents and any necessary changes of use. The property is ready for immediate occupation and fit out.
The upper floors comprise of 3 self-contained residential flats all sold off on long leases. Each flat pays an annual ground rent of £250.
Location
Worthing with a population in excess of100,000 is a popular seaside town located in between the cities of Brighton (13 miles east) and Chichester (18 miles west) on the southcoastof England. Worthing is famed for its pier and promenadeand both are within 500 yards of the subject property which is situated along Warwick Street in the heart of the town centre. Warwick Street is known for its 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 PretA Manger are situated. Worthing mainline railway station with its regular service along the southcoastand 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 50 yards from the property
Accommodation
The property has the following approximate floor areas:
Lower Ground Floor - 541 sq ft
Upper Ground Floor - 743 sq ft
TOTAL AREA - 1,284 sq ft
Terms
Terms - The property is available freehold with full vacant possession of the ground floor and subject to the 3 long leasehold residential flats above with each flat contributing £250 per annum in ground rent.
Guide Price & VAT - £215,000 (Two Hundred & Fifteen 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 £8,800. It is therefore felt, subject to tenant status, that 100% small business rates relief may be applicable. Interested parties are asked to contact the local authority to ascertain what relief is available to their business.
Legal Costs - Each party to pay their own costs
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
- Situated in Warwick Street, Worthing Close To All Town Centre Amenities
- Nearby Occupiers Include Whibleys Jewellers, ASK Restaurant, HSBC Bank, Robert Dyas & B&M Bargains
- 3x Residential Flats on Upper Floors Sold off on Long Leases
- Available For Immediate Occupation / Tenant Fit Out
- Potential to Produce £17,250 Per Annum Exclusive
- Suit Variety of Commercial Uses (stpc)
- Viewing Highly Recommended