Units 3 & 4 Connaught Buildings
Chapel Road
Worthing
BN11 1BA

Freehold Retail Investment

  • Let to Scope Until 2025
  • Tenant has been in occupation since March 2005
  • 2020 rent review remains outstanding
  • Prominent Location in Town Centre
  • Neighbouring occupiers include Santander, KFC Tesco Express and Lidl
  • Lot
    21
  • Auction
    21/May/2020
  • Rent
    £29,500 per Annum Exclusive
  • Status
    Sold Post
  • Price*
     
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • On Behalf of Trustees
  • Units 3 & 4 Connaught Buildings<br>Chapel Road<br>Worthing<br>BN11 1BA
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
11 miles west of Brighton
26 miles south of Crawley
54 miles south of London
Roads
A24, A27
Rail
Worthing Railway Station (direct to London Victoria)
Air
London Gatwick Airport
Situation

Worthing is a substantial south coast town located 11 miles west of Brighton. The property is situated on the east side of Chapel Road, a busy retail and leisure location with an NCP car park to the rear and is in close proximity to the Guildbourne Shopping Centre. Neighbouring occupiers include Santander, KFC Tesco Express and Lidl.

Tenure

Freehold.

Description

The property comprises a double fronted retail unit with ground floor retail accommodation and ancillary accommodation in the basement.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Available from the legal pack at acuitus.co.uk

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReview/
(Reversion)
Ground
Basement
Retail
Ancillary
148.20 sq m
32.40 sq m
(1,595 sq ft)
(348 sq ft)
SCOPE (3)10 years from
10/03/2015
£29,50010/03/2020 (1)
(09/03/2025) (2)
Total
180.60 sq m
(1,943 sq ft)
  £29,500 

(1) Outstanding Rent Review
(2) Tenant did not exercise their break clause which was due in March 2020.
(3) Scope was founded in1952 and is a registered charity under number 208231, and a registered company under number 00520866 (England and Wales). For the year ending 31st March 2019, Scope reported a pre-tax profit of £2,174,000 and total assets of £55,031,000 (Source: SmartSearch 30/04/2020).

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

  • Site Plan
    Updated Date
    01.05.20
    File Size
    438 KB
    View PDF
  • Catalogue Page
    Updated Date
    01.05.20
    File Size
    813 KB
    View PDF
  • Common Auction conditions
    Updated Date
    01.07.20
    File Size
    277 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    15.09.20
    File Size
    57 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
Billy StruthBilly Struth +44 (0)20 7034 4854billy.struth@acuitus.co.uk
Seller's Solicitors
Le Gros Solicitors 22 Windsor Place
Cardiff
CF10 3BY
Gill Hogan 029 2267 1301gill@legrossolicitors.com

Useful Links

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