Commercial Development

Location

Ideally situated in the desirable West Worthing area, just a short walk from West Worthing railway station and within easy reach of local amenities, the town centre, and the seafront (approx. 1 km away).

Description

This substantial and imposing detached property presents an opportunity to acquire a fully let building, currently arranged as five self-contained apartments over three storeys. The property generates a gross rental income of £42,708 per annum, with significant potential for rental uplift following internal refurbishment.

The accommodation comprises four one-bedroom apartments and one studio, each benefitting from private kitchens and bathrooms. Additional features include gas central heating and double glazing.

Externally, the property features a wrap-around rear garden and off-road parking, with potential for further development (subject to necessary consents), enhancing its long-term investment appeal.

Price

Offers are invited in the region of £750,000 for the freehold interest.

Tenure Comments

Freehold

Rent

The overall income for the property is £42,708 per annum, exclusive.

EPC

Flat 1 has an EPC rating of D - 66.
Flat 2 has an EPC rating of E - 52.
Flat 3 has an EPC rating of D - 61.
Flat 4 - an EPC has been requested.
Flat 5 has an EPC rating of E - 52.

VAT

We are informed that VAT is not applicable on the terms quoted.

Use

We understand the premises benefit from Class C4 use however, we would advise any potential tenant to check with the Planning Department to ascertain if their use is permitted.

Legal Fees

Each party is responsible for their own legal fees in this transaction.

Viewing

Strictly by appointment with Sole Agents,
Jacobs Steel.