Coronation Buildings Ham Road Worthing West Sussex BN11 2NN

  • Coronation Buildings<br>Ham Road<br>Worthing<br>West Sussex<br>BN11 2NN

Coronation Buildings
Ham Road
Worthing
West Sussex
BN11 2NN

Freehold Retail and Residential Parade Investment

  • Substantial unbroken parade comprising 14 shops, 12 self-contained two bedroom flats and rear workshop
  • Fully let parade with no vacant shops
  • Asset management opportunities
  • VAT-free Investment
  • Approx 500m from East Worthing Railway Station
  • Lot
    29
  • Auction
    11th July 2018
  • Rent
    £116,329 per Annum
  • Status
    Sold
  • Price
    £1,445,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • Expand
  • Photos
  • Map

Freehold Retail and Residential Parade Investment

  • Substantial unbroken parade comprising 14 shops, 12 self-contained two bedroom flats and rear workshop
  • Fully let parade with no vacant shops
  • Asset management opportunities
  • VAT-free Investment
  • Approx 500m from East Worthing Railway Station
  • Lot 29
  • Auction 11th July 2018
  • Rent £116,329 per Annum
  • Status Sold
  • Price £1,445,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
1 mile east of Worthing town centre, 10 miles west of Brighton
Roads
A24, A27, A259
Rail
East Worthing Railway Station
Air
London Gatwick Airport
Situation

The property occupies a prominent corner location, fronting Ham Road, Brougham Road and Chatham Road, about one mile east of Worthing town centre. The property is a located in a mixed commercial and residential area. Nearby occupiers include Co-op Food Store and Jewson.

Tenure

Freehold.

Location
Miles
1 mile east of Worthing town centre, 10 miles west of Brighton
Roads
A24, A27, A259
Rail
East Worthing Railway Station
Air
London Gatwick Airport
Situation

The property occupies a prominent corner location, fronting Ham Road, Brougham Road and Chatham Road, about one mile east of Worthing town centre. The property is a located in a mixed commercial and residential area. Nearby occupiers include Co-op Food Store and Jewson.

Tenure

Freehold.

Description

The property comprises a substantial retail and residential parade comprising 14 shops on the ground floor with 12 self-contained 2 bedroom flats on the first floor. To the rear, there is a workshop arranged on the ground floor.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a substantial retail and residential parade comprising 14 shops on the ground floor with 12 self-contained 2 bedroom flats on the first floor. To the rear, there is a workshop arranged on the ground floor.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

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 Reviews
(Reversions)
1 Ground Retail/
Ancillary
37.90 sq m
(408 sq ft)
G UYAR
t/a Golden Grill
5 years from 02/12/2014 £6,000 (01/12/2019)
2 Ground Retail/
Ancillary
41.34 sq m
(445 sq ft)
M CLARK & E LUCAS
t/a ME Hair & Makeup
3 years from 05/03/2018 £6,500 (04/03/2021)
3a Ground Retail/
Ancillary
19.97 sq m
(215 sq ft)
C FERRIS, L FERRIS
& L CLASBY
t/a Blackgate Ink
3 years from 29/09/2017 £3,500 (28/09/2020)
3b Ground Retail/
Ancillary
21.09 sq m
(227 sq ft)
K WILSON
t/a The Sand Project
1 year from 23/05/2018 £3,500 (22/05/2019)
4 Ground Retail/
Ancillary
41.34 sq m m
(445 sq ft)
H WICKS
t/a Cheeky Smoke
3 years from 01/12/2016 £7,000 (30/11/2019)
5 Ground Retail/
Ancillary
38.65 sq m
(416 sq ft)
M RANJITH
t/a Premier Express
8 years from 15/09/2010 £6,500 (14/09/2018)
6 Ground Retail/
Ancillary
31.59 sq m
(340 sq ft)
L TYSON
t/a Lydia’s Fabrics
5 years from 30/08/2017 £6,000 (29/08/2022)
7 Ground Retail/
Ancillary
46.17 sq m
(497 sq ft)
THE GROW ROOM
LTD
t/a The Grow Room
Approximately 2 years and
11 months from 26/07/2017
£6,250 (10/07/2020)
8 Ground Retail/
Ancillary
44.59 sq m
(480 sq ft)
J BROAD, J TAYLOR
& R TEAR
t/a East Worthing Festival
5 years from 25/11/2013 £6,000 (1) (24/11/2018)
9 Ground Retail/
Ancillary
40.32 sq m
(434 sq ft)
M CHOWDHURY
t/a Eshna’s Nutrition
8 years from 25/12/2017 £7,200 25/12/2021
(24/12/2025)
10 Ground Retail/
Ancillary
44.97 sq m
(484 sq ft)
P WHITE
t/a The Military Man
Approximately 4 years and
2 months from 06/10/2015
£6,500 (24/12/2019)
11a/b
Ground Retail/
Ancillary
38.83 sq m
(418 sq ft)
P WHITE
t/a The Military Man
5 years from 06/07/2014 £6,000 (05/07/2019)
12 Ground Retail/
Ancillary
36.23 sq m
(390 sq ft)
C EVANS & V EVANS
t/a Vals’ Café
5 years from 29/03/2018 £7,200 (28/03/2023)
13 Ground Retail/
Ancillary
50.10 sq m
(539 sq ft)
P WHITE
t/a The Military Man
Approximately 3 years and
8 months from 11/04/2016
£6,250 (24/12/2019)
Chatham
Warehouse
Ground  
127.00 sq m
(1,367 sq ft)
IMPACTING
NEIGHBOURHOODS
& COMMUNITIES
3 years from 02/03/2016 £7,250 (01/03/2019)
Flat 8 First Residential
- 2 bed flat
-
(-)
AN INDIVIDUAL AST for one year from
01/04/2000
(Holding Over)
£5,850 (2) -
Flat 12a First Residential
- 2 bed flat
-
(-)
AN INDIVIDUAL AST for one year from
10/10/2016
(Holding Over)
£9,300 (2) -
Flat 12b First Residential
- 2 bed flat
-
(-)
AN INDIVIDUAL AST for one year from
23/04/2013
(Holding Over)
£8,844 (2) -
Flats
1,2,3,4,5,6,
7,9 & 10a
First 9 x two bed
flats
-
(-)
VARIOUS INDIVIDUALS Various leases expiring
2072 - 2191
Combined
ground rent
of £685
Various - See Leases
Total Commercial Area
660.09 sq m
(7,105 sq ft)
    £116,329  

(1) The current contractual rent is £6,750 per annum, but the tenant has has a personal concession to £6,000 per annum.
(2) These rents have been annualised.

Property Documents

  • Catalogue Page
    Updated Date
    28.10.19
    File Size
    1 MB
    View PDF
  • Site Plan
    Updated Date
    28.10.19
    File Size
    1 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Seller's Solicitors
TWM Solicitors LLP 7 - 9 Queens Road
Wimbledon
SW19 8NG
Claire Campbell 0208 946 6454claire.campbell@twmsolicitors.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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