Prime location commercial property – Worthing

We are pleased to bring to market this  excellent commercial investment unit in Worthing. The unit is on the ground floor of a prominent building, situated in the heart pedestrian promenade. It is a large unit totalling 20,645 sq ft, with a full glass frontage of approximately 70 ft. The unit has access from both Montague Street and Chandos Road. The property occupies a prime position on Montague Street, in the centre of the Worthing shopping area, benefiting from strong pedestrian and vehicle traffic.

The shop is let to Poundland on a 10-year FR&I lease until July 22, 2028. The lease is within the L&T act. The rent is £250,000 +vat p.a.

Key Features:

• Prime location
• Tenure – New 999 year lease
• Current rental income of £250,000 p.a.
• GIA of around 20,645 sq ft
• Price: £2,500,000 ex-vat
• Vat is applicable to this property, but it is expected to be able to be treated as a TOGC

Location:

Worthing is a seaside town on the south coast of England. It is in the borough of West Sussex and lies at the foot of the South Downs. It offers the advantages of coastal living with good connections to the conveniences of Brighton and London. It’s many shops and restaurants make it attractive to both locals and visitors.

The shop itself is on Montague Street, in a central location, just 120m from the beach, and 300m from Worthing Pier.

Occupiers close by include Sports Direct, New Look, Clarks and a range of local, national and independent retailers and pubs.

Vanderwald Estates have represented the information here based on information provided by the vendor. All potential buyers should only rely on their own due diligence and inspections.