Nearby occupiers include Peacocks, New Look, Superdrug and WH Smith
Benefits from rear loading and parking for approximately 7 cars to the rear
VAT free Investment
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 31
Auction 23rd March 2016
Rent £55,000 per Annum Exclusive
Status Sold
Price £650,000
Sector High Street Retail
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
On behalf of CBRE receivers
Property Information
Location
Miles
7 miles south-east of Chichester, 24 miles west of Brighton, 37 miles south of Guildford
Roads
A3, A27, A280
Rail
Bognor Regis Railway Station
Air
London Gatwick Airport
Situation
Bognor Regis is a seaside town in West Sussex some 7 miles south- east of Chichester. The property is situated on the east side of pedestrianised London Road, the prime retailing pitch in the
town centre. Nearby occupiers include Boots the Chemist, New Look, Superdrug and Costa.
Tenure
Freehold.
Location
Miles
7 miles south-east of Chichester, 24 miles west of Brighton, 37 miles south of Guildford
Roads
A3, A27, A280
Rail
Bognor Regis Railway Station
Air
London Gatwick Airport
Situation
Bognor Regis is a seaside town in West Sussex some 7 miles south- east of Chichester. The property is situated on the east side of pedestrianised London Road, the prime retailing pitch in the
town centre. Nearby occupiers include Boots the Chemist, New Look, Superdrug and Costa.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with ancillary accommodation on the first floor. The property benefits from rear access off Sudley Road and car parking for approximately 7 cars.
Six Week Completion
Note
This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor retail unit with ancillary accommodation on the first floor. The property benefits from rear access off Sudley Road and car parking for approximately 7 cars.
Six Week Completion
Note
This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/(Reversion)
Ground First
Retail/Ancillary Ancillary
343.68 sq m 140.32 sq m
(3,699 sq ft) (1,510 sq ft)
THE WORKS STORES LIMITED (1)
10 years from 02/12/2009 on a full repairing and insuring lease
£55,000
02/12/2014 (01/12/2019)
Totals
484.00 sq m
(5,209 sq ft)
£55,000
(1) The Works currently have over 330 stores nationwide selling discount books, gifts, toys and stationary. For the year ending 26th April 2015, The Works Stores Limited reported a turnover of £141,684,000, pre-tax profits of £6,733,000 and a total net worth of £16,756,000. (Source: Experian Group 22/02/2016).
Contacts
Seller's Solicitors
Walker Morris LLP Kings Court, 12 King Street Leeds LS1 2HL
