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
    26/Mar/2020
  • Rent
    £60,000 per Annum Exclusive
  • Status
    Contact Us
  • Price*
  • Sector
    High Street Retail
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    Marble Arch
    London W1H 7TN
Important Auction & Property Update
  • 25 London Road<br>Bognor Regis<br>West Sussex<br>PO21 1PQ
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* More information on the term "price" can be found here

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.

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.

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReview
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)
£60,00004/12/2024
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 £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    04.03.20
    File Size
    9 MB
    Login to View
  • Catalogue Page
    Updated Date
    04.03.20
    File Size
    766 KB
    View PDF
  • Site Plan
    Updated Date
    04.03.20
    File Size
    768 KB
    View PDF
  • Common Auction conditions
    Updated Date
    19.09.19
    File Size
    150 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    20.05.20
    File Size
    694 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860george.goucher@acuitus.co.uk
Seller's Solicitors
Druces LLP Salisbury House, London Wall
London
EC2M 5PS
Karen Chapman 0207 216 5591k.chapman@druces.com

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