341 Goring Road Goring by Sea West Sussex BN12 4NX

341 Goring Road
Goring by Sea
West Sussex
BN12 4NX

Recently Refurbished Freehold Convenience Store Investment

Let to Sainsbury’s Supermarkets Limited
New unbroken 15 year lease from January 2016
5 Yearly RPI Linked Rent Reviews
Newly refurbished store
Prosperous West Sussex town
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
49
Auction
23rd March 2016
Rent
£80,000 per Annum Exclusive
Status
Withdrawn Prior
Price
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

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Recently Refurbished Freehold Convenience Store Investment

Let to Sainsbury’s Supermarkets Limited
New unbroken 15 year lease from January 2016
5 Yearly RPI Linked Rent Reviews
Newly refurbished store
Prosperous West Sussex town
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 49
Auction 23rd March 2016
Rent £80,000 per Annum Exclusive
Status Withdrawn Prior
Price
Sector
Supermarket/Convenience
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 2 miles west of Worthing, 16 miles west of Brighton
Roads: A24, A27, A259, A280, M23
Rail: Goring-by-Sea Railway Station
Air: London Gatwick Airport

Situation

The property is situated in a highly prominent position on the southern side of Goring Road (A259), approximately 2 miles west of Worthing town centre. The property is located in a mixed commercial and residential area, with nearby occupiers including Boots the Chemist, KFC, HSBC Bank and a number of independent retailers.

Tenure

Freehold.

Location

Miles: 2 miles west of Worthing, 16 miles west of Brighton
Roads: A24, A27, A259, A280, M23
Rail: Goring-by-Sea Railway Station
Air: London Gatwick Airport

Situation

Tenure

Freehold.

Description

The property comprises a newly refurbished convenience store arranged on the ground floor only. The property benefits from customer car parking at the front for about 8 cars.

Six Week Completion

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a newly refurbished convenience store arranged on the ground floor only. The property benefits from customer car parking at the front for about 8 cars.

Six Week Completion

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/(Reversion)
Ground	Convenience Store/Ancillary	427.89 sq m	(4,606 sq ft)	SAINSBURY’S SUPERMARKETS LIMITED (1)	15 years from 15/01/2016 on a full repairing and insuring lease (2)	£80,000	15/01/2021 (3) and 15/01/2026 (3) (14/01/2031)
Totals		427.89 sq m	(4,606 sq ft)			£80,000

(1) For the year ending 14th March 2015, Sainsbury’s Supermarkets Limited reported a turnover of £23,443,000,000, pre-tax profits of £-206,000,000 and a total net worth of £4,224,000,000 (Source: Experian Group 10/02/2016).
(2) The lease is full repairing and insuring subject to a schedule of condition.
(3) The lease is subject to 5 yearly RPI linked rent reviews capped at 3.5% and collared at 1%.