For Sale

The Old Rectory,
Vicarage Lane ,
Felpham,
Bognor Regis,
West Sussex,
PO22 7EA

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Development, Investment

5,974 Sq Ft (554.98 Sq M)

1 of 28
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Features
  • Residential investment comprising 11 flats
  • Total floor area of the flats comprises 555 sq m (5,974 sq ft)
  • ERV £90,000 per annum if fully let following refurbishment/repairs
  • Freehold
  • Price - offers in excess of £700,000 stc
  • Situated in the seaside resort of Bognor Regis on the south coast of England
  • Site area of 0.1781 hectares (0.44 acres)
  • The property is not listed but part of the gardens are within the local conservation area

Location

Bognor Regis is an affluent and popular resort town in West Sussex ideally located on the south coast approximately 55 miles south west of London 24 miles west of Brighton and six miles south east of Chichester.

The town benefits from excellent transport links with easy access to the A259 which links Bognor Regis to the A27 (seven miles north of the town) and therefore the wider national road network.

Bognor Regis Railway Station offers direct and regular services to London Victoria with a fastest time of 1 hour and 40 minutes. The station provides regular services to Brighton with a journey time of approximately 45 minutes and Chichester is accessed within 15 minutes both requiring one change.

Description

Investment/Development Opportunity

Accommodation

The property comprises a detached, two-storey (with vault) period building. The original property has in the past been extended to include a two-storey southern west wing, together with a ground floor additions to the north east corner of the building.

The property is presently configured as 11 one-bedroom flats with associated parking and landscaping. The property is not listed but part of the gardens sit within the local conservation area. The property is within Flood zone 1 which is an area with a low probability of flooding.

The property has the following total area of the flats 555 sq m (5,974 sq ft).

We have not calculated the floor area of common parts. The property has a site area of 0.1781 hectares (0.44 acres).

Planning

Interested parties should make their own planning enquiries and satisfy themselves in this regard.

VAT

Rents and prices are quoted exclusive of, but may be subject to VAT.

Legal Fees

Each party to bear their own legal costs incurred.

Terms

Eight of the Eleven flats are let out on Assured Shorthold Tenancies producing a range of rents from £595 per calendar month (pcm) up to £650 pcm. Flat One is undergoing refurbishment currently. Flats Five and Nine require refurbishment in order to be let, which will be the responsibility of the new owner.

The total gross income generated is currently approximately £58,488 per annum.

Certain structural works are required to the building to put such in good condition. These will be the responsibility of interested parties to identify and cost to their satisfaction. The quoting price reflects the current condition of the property.

We have been instructed to market the property and invite offers in excess of £700,000 for the freehold interest, subject to contract, and the existing tenancies.

Rateable Value / Council Tax Band

We have made enquiries regarding the present Council Tax assessment for the property, as follows:

All of the flats are assessed as Band A, with the exception of Flats 6 and 9, which are both assessed within Band B.

Energy Performance Rating

Address Rating Valid Until
Flat 1 G 16 June 2025
Flat 2 C 3 December 2025
Flat 3 D 3 December 2025
Flat 4 D 24 February 2031
Flat 5 F 19 February 2028
Flat 6 F 29 March 2026
Flat 7 G 29 March 2026
Flat 8 E 17 November 2031
Flat 9 F 7 June 2028
Flat 10 C 29 May 2032
Flat 11 E Expired

Mark Minchell

01243 929136 Email