93 Montague Street Worthing West Sussex BN11 3BN

93 Montague Street
Worthing
West Sussex
BN11 3BN

Freehold Retail Investment

Entirely let to Claire's Accessories UK Ltd
Prominent position on prime pedestrianised shopping thoroughfare
Nearby occupiers include Bhs, Clinton Cards and Marks & Spencer
Six Week Completion Period Available

Lot
23
Auction
22nd February 2011
Rent
£60,000 per Annum Exclusive
Status
Sold
Price
£580,000
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP
On behalf of Joint LPA Receivers

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Freehold Retail Investment

Entirely let to Claire's Accessories UK Ltd
Prominent position on prime pedestrianised shopping thoroughfare
Nearby occupiers include Bhs, Clinton Cards and Marks & Spencer
Six Week Completion Period Available

Lot 23
Auction 22nd February 2011
Rent £60,000 per Annum Exclusive
Status Sold
Price £580,000
Sector
High Street Retail
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP
On behalf of Joint LPA Receivers

Property Information

Location

10 miles west of Brighton; 30 miles east of Portsmouth; 60 miles south of London
Roads: A24, A27, A259
Rail: Worthing Railway Station
Air: Gatwick Airport

Situation

The property occupies a prime position within the town centre on the southern side of the pedestrianised Montague Street. Neighbouring occupiers include Bhs, Clinton Cards and Marks & Spencer. The property is situated close to Worthing Pier and Marine Parade which provides a number of shops, theatres and arcades.

Tenure

Freehold. NB The property is being marketed on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given The LPA Receivers are not bound to accept the highest or any offer and are acting without personal liability.

Location

10 miles west of Brighton; 30 miles east of Portsmouth; 60 miles south of London
Roads: A24, A27, A259
Rail: Worthing Railway Station
Air: Gatwick Airport

Situation

Tenure

Description

The property comprises a RETAIL UNIT on the ground floor with ANCILLARY/STORAGE ACCOMMODATION on the first and second floors.

NB. The property is being marketed on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The LPA Receivers are not bound to accept the highest or any offer and are acting without personal liability.

VAT

VAT is applicable to this lot.

EPC

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

Description

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 First Second	Retail Storage/Ancillary Storage/Ancillary	110.00 sq m 116.00 sq m 70.00 sq m	(1,179 sq ft) (1,248 sq ft) (749 sq ft)	CLAIRES ACCESSORIES UK LTD (1)	15 years from 13/03/2000 on a full repairing and insuring lease	£60,000	(12/03/2015)
Totals		296.00 sq m	(3,176 sq ft)			£60,000

(1) For the year ending 30th January 2010, Claire’s Accessories UK Ltd reported a turnover of £143,114,000, pre-tax profits of £4,860,000 and a total net worth of £18,284,000. (Source: www.riskdisk.com 13/01/2011)