The premises comprise of a three storey building currently laid out with ground floor retail premises with self contained 1 x 1 bedroom flat and 1 x studio flat above. The property is of standard brick construction under a pitched roof. The ground floor has recently been let to an established technology repair centre and has been fitted out to a good standard to include laminate flooring, LED strip lighting, ample electrical points, double glazed shop front and CCTV (not tested), the shop is laid out with an open plan sales area to front with rear managers office and kitchen/WC. The first and second floor residential flats are accessed via separate pedestrian entrance with flat one comprising of lounge, kitchen, separate WC, bathroom, two bedrooms with a rear balcony. The flat benefits from pendant lighting, double glazed windows and is carpeted throughout. Flat 2 is a smaller one bedroom flat comprising of lounge, bedroom, kitchen and bathroom. The flat requires some refurbishment.
Location
The property is located at the northern end of Chapel Road close to the junction with Teville Road. Nearby commercial occupiers including Dreams Bedding, Majestic Wines, Morrisons and Anytime Fitness. The mainline railway station for the town is located 0.25 miles to the north of the property whilst the main trunk roads of the A24 and A27 are situated some 2 miles to the north. Worthing is a popular seaside town with a population in excess of 100,000 and Chapel Road is one of the main retail business locations within the town and receives a vast amount of vehicular traffic.
Accommodation
The property has the following approximate floor areas:
Ground Floor
Main Sales Area - 175 Sq Ft
Rear Sales/Managers Office - 249 Sq Ft
Storage & Kitchenette - 161 Sq Ft
Two WC's Unmeasured
Total Area - 585 Sq Ft
Flat 1 (Two Bedroom)
Lounge - 182 Sq Ft
Kitchen - 45 Sq Ft
Separate WC Unmeasured
Bathroom Unmeasured
Bedroom 1 - 91 Sq Ft
Bedroom 2 - 78 Sq Ft
Total Area - 396 Sq Ft
Flat 2 (One Bedroom)
Lounge- 113 Sq Ft
Bedroom - 50 Sq Ft
Bathroom - 28 Sq Ft
Kitchen- 68 Sq Ft
Total Area- 259 Sq Ft
Terms
Tenure - The property is available freehold subject to the below mentioned tenancies.
Guide Price - Offers in excess of £410,000 (Four Hundred & Ten Thousand Pounds).
VAT - We understand that VAT is not to be charged on the purchase price.
Tenancy - The ground floor is let for a term of x years from x at a passing rent of £8,000 per annum exclusive. A full copy of the lease is available to interested parties upon request.
Flat 1 is let on a 12 month AST agreement from 1st March 2022 at a rent of £875 (£10,500 per annum).
Flat 2 is let on a new 12 month AST agreement from 1st March 2022 at a rent of £675 per calendar month (£8100 per annum).
Business Rates & Council Tax - According to the VOA the ground floor has a rateable value of £5800. We are verbally informed that the flats have a council tax banding of A.
EPC - The premises has a valid EPC with a rating of B45.
Legal Fees - Each party to pay their own legal costs unless otherwise agreed.