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PRIME FREEHOLD RETAIL AND OFFICE INVESTMENT FOR SALE
• Prime Location Opposite Pedestrianised Precinct
• Tenants Include Ladbrokes
• Offices May Be Suitable for Residential Redevelopment (S.T.P.)
• Rental Income £126,850 per annum guaranteed for the first two years
£1,950,000
FOR SALE
Worthing - Commercial
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Location
Worthing is the largest town in West Sussex and has a population in excess of 100,000 with a catchment area of 250,000. Brighton is 10 miles to the east and Chichester 21 miles to the west. London Gatwick Airport is within easy reach by the A27 and A23. Major employers include GlaxoSmithKline, Norwich Union, Southern Water and Lloyds Bank Registrars. |
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Description
A six storey concrete framed building having retail on the ground floor with five floors of offices above. The offices have passenger lift and entryphone system. |
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Tenancy Schedule
Please contact us for further details |
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Rent
Total current rent £92,850 pa
Total guaranteed rent £126,850 pa
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Proposal
We are instructed to seek offers in the region of £1,950,000 for our client’s freehold interest. A purchase at this level, after purchaser’s costs of 5.75%, will reflect a net initial yield of 6.15% based on the guaranteed rent. |
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VAT
The property is not registered for VAT. |
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Viewing
Jordan & Cook Chartered Surveyors
31 Chapel Road, Worthing, West Sussex
Tel: 01903 821919 Fax: 01903 215379
Contact: Jane Ashworth or Brian Hooker FRICS
e-mail: commercial@jordanandcook.co.uk |
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