Under Offer
Plot 14,
Terminus Road,
Chichester,
West Sussex,
PO19
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Investment, Development, Industrial and Warehouse
12,471 Sq Ft (1,158.56 Sq M)
- Terminus Road is an established industrial / trade location
- Three buildings on a 0.65 acre site. 40% site coverage
- Built space totals 12,471 sq ft (1,158.63 sqm) GIA with remainder effectively yard
- Substantial 3 phase power supply
- Long leasehold
- Excellent road links to the A27, M27 and A3
- Guide price of £800,000, subject to contract
- Of interest to Owner Occupiers or Developers
Location
Chichester is an attractive cathedral city, and the county town of West Sussex. The city has excellent road communications being situated on the A27 dual-carriageway, which runs east to Worthing and Brighton and west to Portsmouth and Southampton where it connects with A3(M) M27 and M3 motorways.
Terminus Road is an established industrial/ trade location benefitting from immediate access to the A27. Nearby occupiers include Howdens, Jewsons, Formula One Autocare, ATS, Harwoods Jaguar/Aston Martin.
Description
Industrial Opportunity in prime Location
Approximately 0.65 acres site with various buildings
Energy Performance Rating
The site has three separate EPCs, which assessments as follows:
Front Building - Office & Sawyers Workshop - (C - 61)
Middle Building - Bankers Workshop (D - 76)
Rear Building - Carving workshop and stores (C - 73)
Planning
Under the head lease and sub-lease the permitted use is class B1.
A new Use Classes Order (UCO) came into effect on 1st September 2020. Under the new UCO a new Use Class E was introduced to cover commercial, business and service uses. Use Class E encompasses A1, A2, A3, B1 and some D1 and D2 uses under the former UCO. We therefore understand that the premises benefit from Class E 'Commercial Business and Service' use within the Use Classes Order 2020.
Therefore alternative uses may be suitable for the site with freeholder consent.
Interested parties should make their own planning and legal enquiries and satisfy themselves in this regard.
Taxation
Rateable Value (2023): £79,000
Terms
We have been instructed to market the long leasehold interest with with a guide price of £800,000, subject to contract.
The current long leasehold interest expires on 24 December 2133, currently with 112 years unexpired. The ground rent payable to the freeholder Chichester District Council is £2,380 per annum, and subject to upward only review every seven years, with the next review falling in 2025.
VAT
We understand the property is not elect for VAT, so VAT will not be payable on the purchase price.
Legal Fees
Each party to bear their own legal costs incurred.
Flude Property Consultants for themselves and for the vendors or lessors of this property whose agents they are give notice that: i) these particulars are set out in good faith and are believed to be correct but their accuracy cannot be guaranteed and they do not form any part of any contract; ii) no person in the employment of Flude Property Consultants has any authority to make or give any representation or warranty whatsoever in relation to this property.
Please note that whilst we endeavour to confirm the prevailing approved planning use for properties we market, we can offer no guarantees in this regard. Planning information is stated to the best of our knowledge. Interested parties are advised to make their own enquiries to satisfy themselves in respect of planning issues.
We advise interested parties to make their own enquiries to the local authority to verify the above and the level of business rates payable in view of possible transitional arrangements and any reliefs.