Large freehold mixed-use investment building arranged as a shop & 4 flats (2 sold off)
The freehold interest in a large red brick corner building which is arranged as a shop and 2 x 1-bedroom flats, with access from Eton Road, both let on ASTs producing £15,300 per annum. There are two further 2 bedroom flats above which are both sold-off on long leases.
The building is on the south side of the road close to West Worthing railway station. The area is well served by a regular bus service into the town centre.
Retail Unit The owner of the business is retiring so the shop will be sold with vacant possession. It is envisaged that a rent of £8,000pa would be achievable. Shop: 27'0 x 20'0 (8.23m x 6.10m) Store room & WC: 11'3 x 10'5 (3.43m x 3.18m) Total area approximately 67sqm Flats Above 2 x 2-bed flats both sold-off on 99 year leases from 2006 with ground rents of £50 each pa Eton Road Flats Ground Floor Flat Own front door, living room, kitchen, bedroom & bathroom, 41sqm. Let on an AST at £650 pcm First Floor Maisonette Own front door, lounge/kitchen and WC on first floor, and bedroom with en-suite bathroom and separate shower cubicle on second floor, 48sqm. Let on an AST at £625pcm Combined potential rent of £23,400pa NB: 6 week completion
Administration Charge - Purchasers will be required to pay an Administration fee of 0.3% (0.25% plus VAT) of the sale price, subject to a minimum of £660 (£550 plus VAT)
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.