Retail property (high street) for sale
Property description & features
- Tenure: Freehold
- Situated On Popular Neighbourhood Shopping Parade
- Vacant Shops Ready For Immediate Occupation
- Prominent Position With 24ft Window Frontage
- Potential To Produce £22,000 Per Annum
- Close To Worthing Train Station
- On-Street Parking On Nearby Roads
A rare opportunity to acquire the freehold of building to include two prominent ground floor shops / offices. The units could be combined or used as two separate premises and would suit a variety of commercial uses, subject to gaining the necessary planning consents. Both benefit from a kitchenette, WC, a small rear courtyard with a pedestrian right of way fire escape access to St Lawrence Lane. There are two flats above which are sold off on long leases with approximately 80 and 87 years remaining.
Location
Worthing with a population in excess of 100,000 is a popular seaside town located in between the cities of Brighton (13 miles east) and Chichester (18 miles west) on the southcoast of England. South Farm Road is a mixed commercial and residential road linking the A27 to the north to the A259 coastal road to the South and is one of the main thoroughfares into the Town Centre. Nearby occupiers include a mixture of retail, office, food / drink occupiers and a mix of schools / colleges. Local bus routes are nearby and Worthing mainline railway station is nearby with regular services to London, Brighton and Littlehampton.
Terms
The first floor flats are sold off on long leases with approximately 80 and 87 years remaining. The leaseholders are responsible for contributing 33% each towards the yearly buildings insurance premium and 33% each for any external works required in order to maintain the exterior of the building to a fair and reasonable standard. There is no ground rent payable. The ground floor shops are offered with vacant possession upon completion.
Business Rates
According to the Valuation Office Agency the property has the following rateable values:
Shop 111 - £6,300
Shop 113 - £3,650
Property information from this agent
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