Lot 6 - Market House, Church Road, Worthing, West Sussex, BN13 1HF
- Unconditional Online Auction Sale
- Guide Price* : £625,000 - £650,000
Description
Description
The property comprises of three commercial units with two flats above and car parking area to the rear with re-development potential (subject to necessary planning consent) the current rent roll is circa £49,050 per annum.
The property is a grade II listed building, current planning consent is for A1 & A3 across the units. There is also potential for the re-development of the parking area at the rear (subject to planning consent)
* Unit 1, Roses Hair Salon - £8,500pa (tenant has given notice to vacant in August 2020) 29.25sqm
* Unit 2, Duke Coffee Shop - £11,750pa (Rent review May 2020, expires May 2025, inside the L&T Act) 150.1sqm
* Units 3&4, Tarring Village Stores - £10,500pa (Rent review January 2022, expires January 2030, inside the L&T Act) 46.37sqm
* Flat 2a - £8,340pa (AST) - 38sqm
* Flat 2b - £9,000pa (AST) 36sqm
* Parking spaces X2 - £960pa
Total current Rental Income: £49,050 per annum
Location
The property is located in the centre of Tarring Village which is surrounded by mostly residential units, with a few other commercial businesses including a couple of pubs, well known local restaurant The Parsonage and another coffee shop. West Worthing train station is a short walk away to the South and Worthing town centre is approximately 10 minutes drive away.
Tenure
FREEHOLD
Bullets
Mixed Use Freehold Investment
Multi-Let Building
Re-development Potential at Rear (STNC)
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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