37 Goring Road Goring on Sea Worthing West Sussex BN12 4AR

37 Goring Road
Goring on Sea
Worthing
West Sussex
BN12 4AR

Prominent Freehold Bank Investment on a New 5 year lease

Entirely let to Santander UK Plc
New 5 year lease (NO Breaks)
Lease renewal from 25th December 2020
Prominent Corner Location
VAT-free Investment
Future Development Potential of the upper floors

Lot
7
Auction
11th February 2021
Rent
£26,500 per Annum Exclusive
Status
Sold
Price
£460,000
Auction Venue
Live Streamed Auction
On Instructions of a Major Fund Manager

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Prominent Freehold Bank Investment on a New 5 year lease

Entirely let to Santander UK Plc
New 5 year lease (NO Breaks)
Lease renewal from 25th December 2020
Prominent Corner Location
VAT-free Investment
Future Development Potential of the upper floors

Lot 7
Auction 11th February 2021
Rent £26,500 per Annum Exclusive
Status Sold
Price £460,000
Sector
Bank
Auction Venue
Live Streamed Auction
On Instructions of a Major Fund Manager

Property Information

Location

Miles: 12 miles west of Brighton; 19 miles east of Chichester
Roads: A24, A27
Rail: West Worthing
Air: London Gatwick

Situation

Worthing is a large seaside town on the south coast, 12 miles west of Brighton. The property is located in Goring on Sea a predominantly residual suburb, 2 miles west of Worthing town centre and 0.5 miles from the sea front. The Property is situated in a prominent position at the junction of Goring Road and George V Avenue. Nearby retailers on include Costa Coffee, Boots the Chemist, Co-op Food, Tesco Express and Iceland, as well as a number of independent retailers

Tenure

Freehold.

Location

Miles: 12 miles west of Brighton; 19 miles east of Chichester
Roads: A24, A27
Rail: West Worthing
Air: London Gatwick

Situation

Tenure

Freehold.

Description

The property comprises a ground floor bank with ancillary accommodation at first and second floors.

VAT

VAT is not applicable to this lot.

Planning

The property may benefit from future redevelopment for a variety of uses, subject to all necessary consents/permissions and current tenancy. Interested Parties are referred to Worthing Council (www.worthing.gov.uk)

Completion Period

Six Week Completion

EPC

Band C. See legal pack at www.acuitus.co.uk

Description

The property comprises a ground floor bank with ancillary accommodation at first and second floors.

VAT

VAT is not applicable to this lot.

Planning

Completion Period

Six Week Completion

EPC

Band C. See legal pack at www.acuitus.co.uk

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversion
Ground First Second	Banking/ Ancillary Ancillary Ancillary	64.72 sq m 52.90 sq m 56.10 sq m	(697 sq ft) (569 sq ft) (604 sq ft)	SANTANDER UK PLC (1)	5 years from 25/12/2020 (2) on a full repairing and insuring lease	£26,500	24/12/2025
Total		173.72 sq m	(1,870 sq ft)			£26,500

(1) For the year ending 31st December 2019, Santander UK PLC reported a turnover of £7,224,000,000, a pre-tax profit of £1,012,000,000 and shareholders funds of £15,857,000,000 (Source: NorthRow 19/01/2021).
(2) There is a 3 month rent free period from 25/12/20. The Seller will top up the rent from completion of the sale until expiry of the rent free period, by way of an allowance on completion of the sale.

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.