25 London Road Bognor Regis West Sussex PO21 1PQ

25 London Road
Bognor Regis
West Sussex
PO21 1PQ

Prime and Recently Renewed Freehold Retail Investment

Let to The Works Retail Limited
Recently renewed 10 year lease from December 2019 (subject to option)
Previous rent £55,000 pax
Approximately 523.41 sq m (5,634 sq ft)
First class position on pedestrianised London Road
Nearby occupiers include Superdrug, Specsavers, Boots the Chemist, Greggs, JD Sports and Wilko
VAT-free investment

Lot
12
Auction
26th March 2020
Rent
£60,000 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
Marble Arch
London W1H 7TN

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Prime and Recently Renewed Freehold Retail Investment

Let to The Works Retail Limited
Recently renewed 10 year lease from December 2019 (subject to option)
Previous rent £55,000 pax
Approximately 523.41 sq m (5,634 sq ft)
First class position on pedestrianised London Road
Nearby occupiers include Superdrug, Specsavers, Boots the Chemist, Greggs, JD Sports and Wilko
VAT-free investment

Lot 12
Auction 26th March 2020
Rent £60,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector
High Street Retail
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
Marble Arch
London W1H 7TN

Property Information

Location

Miles: 6 miles south-east of Chichester; 15 miles west of Worthing; 26 miles west of Brighton
Roads: A259, A27, A3(M)
Rail: Bognor Regis
Air: London Gatwick

Situation

Bognor Regis is a seaside resort in West Sussex, 6 miles south-west of Chichester and 26 miles west of Brighton. The property is located on the east side of the pedestrianised London Road, Bognor Regis' prime retailing thoroughfare. The property is 0.2 miles south-east of Bognor Regis Train Station which provides direct rail services to London Victoria every 30 minutes. Nearby occupiers include Superdrug, Specsavers, Boots the Chemist, Greggs, JD Sports and Wilko.

Tenure

Freehold.

Location

Miles: 6 miles south-east of Chichester; 15 miles west of Worthing; 26 miles west of Brighton
Roads: A259, A27, A3(M)
Rail: Bognor Regis
Air: London Gatwick

Situation

Tenure

Freehold.

Description

The property comprises a large and well configured ground floor shop with ancillary accommodation on the first floor. The property benefits from a service yard to the rear with large and well configured car parking for seven cars.

VAT

VAT is not applicable to this lot.

EPC

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

Description

VAT

VAT is not applicable to this lot.

EPC

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

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground First	Retail/Ancillary Ancillary	356.28 sq m 167.13 sq m	(3,835 sq ft) (1,799 sq ft)	THE WORKS RETAIL LIMITED (1)	10 years from 04/12/2019 until 03/12/2029 on a full repairing and insuring lease (2)	£60,000	04/12/2024
Total		523.41 sq m	(5,634 sq ft)			£60,000

(1) For the year ending 28th April 2019, The Works Stores Limited reported a turnover of £217,469,000, pre-tax profits of £7,756,000 and a total net worth of £13,605,000 (source: Experian Group 21/02/2020).
(2) The lease is subject to a tenant only option to determine on 03/12/2024.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.