Under Offer
Eastgate Square,
Chichester,
West Sussex,
PO19 1JH
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Investment, Development
2,345 Sq Ft (217.85 Sq M)
- Chichester is affluent and thriving commercial centre
- Central position close to public car parks
- Busy pedestrian and vehicular thoroughfare
- Asset Management opportunities including letting the vacant upper floors for commercial use or converting to alternative uses such as residential subject to necessary consents
- Total Floor Area (NIA) of 2,345 sqft (217.85 sq m)
- Current income £28,000 pax with ERV, if fully let, of approx. £46,000 pax
- Price £490,000. No VAT.
- Listed Building (Grade 11)
Location
Chichester is an attractive cathedral city, and the county town of West Sussex. It is conveniently located along the A27 south coast trunk road, and lies approximately 15 miles to the east of Portsmouth and 30 miles west of Brighton. A mainline railway service to London reinforces commerce.
Description
E Class Investment
Accommodation
The property comprises a Grade II Listed building comprising two E Class units at ground floor which are let to Bennett Griffin Solicitors (Shop A) and a private tenant trading as Male Concept Barbers. Each unit is separately accessed and independent. There is a central corridor and stairwell leading up to four rooms at first floor and a further two rooms at second floor. The upper floors are now vacant but were most recently occupied by a healthcare provider. This space could be readily let but there is the potential for converting this space to alternative uses such as residential subject to necessary consents.
There is a small garden area to the rear.
Please see Tenancy and Accommodation Schedule for details of tenancies and floor areas.
Energy Performance Rating
Please see Tenancy and Accommodation Schedule for details on EPC's.
Planning
Interested parties are advised to make their own enquiries to satisfy themselves in respect of planning designation. 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.
Taxation
Please see Tenancy and Accommodation Schedule for details on Rateable Values.
Terms
We have been instructed to market the freehold interest of the property subject to the tenancies at a price of £490,000 (subject to contract).
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.
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.