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
Accommodation
The site is approximately 0.65 acres (0.26 hectares) upon which various buildings are constructed with the following approximate areas.
Unit Description sq ft sq m
Main Buildings GIA 9,617 893.45
Sheltered Storage GIA 2,085 193.76
Rear Workshops GIA 1,268 117.80
Total GIA 12,471 1,158.57
External Yard Total GIA 8,500 789.68
Site coverage of 40%.
The Main building comprises of fully fitted office accommodation with amenities including carpetting, strip, perimeter trunking, gas central heating, kitchen, w/cs & shower.
The middle building comprises a double height workshop with glazing on three elevations.
Further workshop and open storage accommodation has previously housed a number of large gantry's (one which still remains) and heavy duty machinery.
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.
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.
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.
Rateable Value / Council Tax Band
Rateable Value (2023): £79,000
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)