Freehold Convenience Store Investment with Separate Flat and Office
Convenience Store let to Bestway Retail Limited until March 2032 (no breaks)
Post Office within Convenience Store
Separately accessed two bedroom flat at first floor let on AST from December 2019
Vacant separately accessed office suite at first floor (with potential to convert to residential, subject to planning)
Large site with future redevelopment/change of use proposal (subject to lease and consent)
Lot 3
Auction 9th July 2020
Rent £33,540 per Annum Exclusive
Status Sold
Price £526,000
Sector Supermarket/Convenience
Auction Venue Live Streamed Auction
Property Information
Location
Miles
8 miles south-east of Chichester
14 miles west of Worthing
Roads
A259, A27
Rail
Bognor Regis
Air
Southampton Airport
Situation
Felpham is an attractive seaside village on the West Sussex coast, approximately 8 miles south-east of Chichester and 14 miles west of Worthing. The property is located on the west side of Summerley Lane, in a predominantly residential area.
Tenure
Freehold.
Location
Miles
8 miles south-east of Chichester
14 miles west of Worthing
Roads
A259, A27
Rail
Bognor Regis
Air
Southampton Airport
Situation
Felpham is an attractive seaside village on the West Sussex coast, approximately 8 miles south-east of Chichester and 14 miles west of Worthing. The property is located on the west side of Summerley Lane, in a predominantly residential area.
Tenure
Freehold.
Description
The property comprises a two storey building, built in 2004, arranged as a ground floor convenience store (with Post Office), a separately accessed two bedroom flat on the first floor, and a separately accessed office suite on the first floor. The property benefits from about 13 cars to the front and rear.
VAT
VAT is applicable to this lot.
EPC
Available from the legal pack at www.acuitus.co.uk.
Description
The property comprises a two storey building, built in 2004, arranged as a ground floor convenience store (with Post Office), a separately accessed two bedroom flat on the first floor, and a separately accessed office suite on the first floor. The property benefits from about 13 cars to the front and rear.
VAT
VAT is applicable to this lot.
EPC
Available from the legal pack at www.acuitus.co.uk.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Ground
Convenience Store/Ancillary (+10 parking spaces)
133.80 sq m
(1,440 sq ft)
BESTWAY RETAIL LIMITED (1)
15 years from 25/03/2017 until 24/03/2032
£24,000
25/03/2024 25/03/2028
First
2 bed flat (+1 parking space)
72.50 sq m
(780 sq ft)
INDIVIDUALS
6 month AST from 20/12/2019 at £795 pcm
£9,540
-
First
Office (+2 parking spaces)
53.30 sq m
(574 sq ft)
VACANT
-
-
-
Total
259.60 sq m
(2,794 sq ft)
£33,540
(1) Bestway Retail operates the UK's largest franchised off-licence and convenience chain and consists of over 800 stores trading under the Bargain Booze, Bargain Booze Select Convenience, Wine Rack and Central Convenience brands (source: bestwaywholesale.co.uk 04/06/2020).
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
