Office for sale
Property description & features
- Tenure: Freehold
- Total site 5.9 acres (approx)
- Current buildings totalling 118,489 sq ft GIA (approx)
- Prime central urban location
- Affluent South-East England town
- Established college campus with mix of new and refurbished buildings
- Circa 130 on-site car parking spaces
- Excellent redevelopment / repositioning opportunity, subject to planning
- Positive Pre-App obtained for three masterplan options ...to include educational, care home and residential uses
- Considered suitable for wider range of alternative uses (STP)
- Freehold sale of whole (consideration to sale in part)
The site comprises an established educational college campus with a combination of new build and fully refurbished legacy buildings, along with some unused buildings to the west of the site. The existing buildings are currently a mix of single, 2 and 3 storey with approximately 70% of the property constructed in the last 10 years.
To the rear of the site there is green space, sports court, engineering workshops and an abundance of car parking with close to 130 spaces. The main
pedestrian reception access is from the predominant A24 Broadwater Road, whilst access to the main car park is via Carnegie Road.
Location
Worthing is a popular seaside town in West Sussex situated at the foot of the South Downs with a population of approximately 111,300 persons (2021 Census). It is situated approximately 11 miles west of Brighton & Hove, 18 miles east of Bognor Regis and 20 miles east of Chichester.
Worthing has a well established retail town centre; it is also a recognised commercial location and home to a range of both service and goods-based businesses, attracted by the good transport connections. Significant employers include GlaxoSmithKline, HM Revenue & Customs, the Environment Agency and Southern Water.
Transport communications include coastal rail services to Brighton and Southampton, as well as regular direct services to London Victoria. The optimum journey time to London by train is 1 hour 24 minutes.
Worthing benefits from good access to the national road network, with direct access to both the A24 and the A27 coastal route, with further access to the A23/M23 to the east at Brighton.
The property is located in the popular and affluent suburb of Broadwater which is a 10 minute walk to Worthing mainline railway station and a 20 minute walk to the town centre. The area boasts numerous well regarded schools as well as comprehensive amenities and transport links.
Title
The property is held freehold on a single title (WSX342884).
There is a long leasehold interest, held by West Sussex County, on a small building located in the main car park (14-16 Centre).
Planning
Current use of the property is Use Class F1 (learning and non-residential institutions) formerly D1.
Future Development
The vendor’s architects, ECE, have carefully designed three masterplan options, shown over the following pages. These include retention of eastern buildings for continued education space, conversion to care home and conversion to residential accommodation, as well as new build housing to the west.
These plans have been submitted to the Local Planning Authority as a Pre-Application and a formal response in December 2023 has been very positive. A copy of the Pre-App is provided within the data room.
Opportunity
This is seen as an excellent opportunity to acquire a rarely available educational facility in an affluent and growing Sussex town, located in the south-east of England only 11 miles west of the city of Brighton.
The site will likely appeal to a wide range of purchasers and end users, ranging from: educational providers; alternative commercial occupiers looking to take advantage of existing building accommodation; specialist care home developers; property investors; retirement living and residential developers.
Worthing’s unique location, being nestled between the South Downs and the sea, creates an attractive redevelopment proposition.
Leaseback
The premises will continue to be occupied as a college until September 2025. Accordingly, the college intends to sell and take a leaseback until this
date and then, upon lease expiry, vacant possession will be granted.
Price
Price on application.
Date for Bids
Offers must be submitted in writing by 2:00pm on Thursday 7th March 2024.
Our client is not bound to accept the highest or any offer and we also reserve the right to require selected bidders to submit further bids.
EPC
There are multiple EPCs for the property – available within the data room.
Method of Sale
There is a strong preference for unconditional bids, however, staged and/or deferred payments will be considered in conjunction with the leaseback.
Consideration will also be given to selling site in part.
Data Room
Further information and access to the data room is available to serious applicants upon request.
Property information from this agent
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