67 - 69 North Street Lancing West Sussex BN15 9AS

67 - 69 North Street
Lancing
West Sussex
BN15 9AS

Freehold Retail and Residential Investment

Fully let ground floor retail unit and self-contained one bedroom flat on upper parts
Located within attractive coastal town
Close proximity to Lancing train station
Nearby occupiers include Domino's, Boots, Poundstretcher, WHSmith, Pizza Hut and Royal Mail

Lot
46
Auction
24th October 2019
Rent
£21,160 per Annum Exclusive
Status
Sold
Price
£224,000
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN

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Freehold Retail and Residential Investment

Fully let ground floor retail unit and self-contained one bedroom flat on upper parts
Located within attractive coastal town
Close proximity to Lancing train station
Nearby occupiers include Domino's, Boots, Poundstretcher, WHSmith, Pizza Hut and Royal Mail

Lot 46
Auction 24th October 2019
Rent £21,160 per Annum Exclusive
Status Sold
Price £224,000
Sector
High Street Retail
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN

Property Information

Location

Miles: 9 miles west of Brighton; 38 miles east of Portsmouth; 58 miles south of Central London
Roads: A23, A24, A27, M23 (J11)
Rail: Lancing
Air: London Gatwick

Situation

Lancing is an an affluent and attractive coastal town situated in West Sussex, some 9 miles west of Brighton. The property is situated on the west side of North Road, close to its junction with Culver Road, in a prominent position just 0.1 miles to Lancing Train Station. Nearby occupiers include Domino's, Boots, Poundstretcher, WHSmith, Pizza Hut and Royal Mail.

Tenure

Freehold.

Location

Miles: 9 miles west of Brighton; 38 miles east of Portsmouth; 58 miles south of Central London
Roads: A23, A24, A27, M23 (J11)
Rail: Lancing
Air: London Gatwick

Situation

Tenure

Freehold.

Description

The property comprises a two storey building arranged as a ground floor shop with a self-contained one bedroom flat at first floor.

VAT

VAT is applicable to this lot.

EPC

Band C. See legal pack at acuitus.co.uk.

Description

The property comprises a two storey building arranged as a ground floor shop with a self-contained one bedroom flat at first floor.

VAT

VAT is applicable to this lot.

EPC

Band C. See legal pack at acuitus.co.uk.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x
Ground	Retail	54.82 sq m	(590 sq ft)	INDIVIDUALS t/a H G King Funeral Services (1)	5 years from 23/06/2017 until 22/06/2022 on a full repairing and insuring lease (2)	£13,000
First	Residential	One bedroom flat		INDIVIDUALS	6 month AST from 04/10/2019 until 03/04/2020 (3)	£8,160
Total Commercial Area		54.82 sq m	(590 sq ft)			£21,160

(1) H G King Funeral Services is a family run, independent funeral directors located in Lancing, West Sussex, offering a 24-hour service, supporting bereaved families in their time of need (Source: www.hgkingfuneralservices.co.uk 12/08/2019).
(2) The tenant has not exercised their June 2020 option to determine and the notice period has now passed.
(3) The rent has been annualised.