An opportunity to acquire a fully occupied freehold investment comprising a two story mid-terrace property with a commercial premises at ground floor level and a self-contained residential flat above.
The property occupies a prominent position in an established tertiary shopping area on the approach to West Worthing Station. The location offers easy access to the surrounding areas with the A259, A24 and A27 trunk roads being within easy reach. Worthing Town Centre is approximately 1.5 miles distant and local bus services run immediately outside the property. Parking is by way off on-street parking in surrounding side streets which is unrestricted and at no charge.
The ground floor commercial premises comprise a spacious double fronted retail space with a gross internal area of approximately 800 sq ft. The premises are presented in excellent order throughout and are currently trading as Physiotherapy and Clinical Pilates practice with accommodation arranged as reception area, two treatment rooms, a large studio space and kitchen/staffroom and WC to the rear.
The self-contained first floor flat has a separate access to the rear of the property and is sold on a long leasehold.
The ground floor commercial premises are occupied under the terms a five year full repairing and insuring lease from December 2015 at a rent of £10,000 per annum. There is a break clause in December 2018.
The first floor flat is subject to a 125 year lease from September 2012. We are advised that the leaseholder pays a ground rent of £250 per annum and contributes towards maintenance on an ad-hoc basis.
Freehold, subject to the various leases
Under the Finance Act 1989, VAT may be chargeable on the rent or sale price and it recommended that prospective tenants or purchasers should make their own enquiries to establish whether or not VAT is chargeable prior to entering into an agreement.
Strictly by appointment with Spratt & Son
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