Commercial property for sale in Lennox Mews, Chapel Road, Worthing BN11

£550,000
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Commercial property for sale
Tenure: Leasehold Service charge: Not available Time remaining on lease: Not available Council tax band: Not available Ground rent: Not available

Property features

  • Unsold at auction
  • 26 July 2016
  • EPC Rating - n/a

Property description


Summary
available at £550,000 - For more information and legal documents visit our website

description
location:
The property occupies a prime town centre position close to the Guildbourn Centre close to the pedestrianised South Street. There are number of major multiple retailers in the immediate vicinity to include F Heinds Jewelers, Barclays, hsbc, TKmaxx, Greggs, Chelsea Building Society, Debenhams and Beales Department Store, Toni & Guy, Thomas Cook, Subway and many more. This vibrant retail are serves the coastal resort of Worthing which lies some 9 miles to the west of Brighton. The
area is well served with transport links with road links provided by the A27. A network of bus routes serving Worthing and the surrounding area with the mainlinerail station providing direct links to London Victoria with a journey time of approximately 1 hour 30 minutes.

Description:
The property forms part of this modern retail location and comprise this mid terrace building arranged over ground, first, second and third floors together with basement storage. Internally it is arranged to provide ground floor retail/office (class A2) space with further office and ancillary accommodation at upper levels with basement storage.

Accommodation:
Ground floor: Zone A 34.3sqm (369sq.ft.), Zone B 35.8sqm (385sq.ft.), Zone C
5.6sqm (60sq.ft.), Internal storage 18.3sqm (196sq.ft.)
First floor: Offices and storage area 79.3sqm (853sq.ft.)
Second floor: Offices and staff room 49.1sqm (528sq.ft.)
Third floor: Storage areas 18.6sqm (200sq.ft.)
Basement storage area

tenancy:
The entire building is let to Lordsdale Estates Ltd. T/a Michael Jones and Co Estate Agents on full repairing and insuring lease for 15 years form 28th January 2002 at a current rent of £38,000 per annum.
Review and reversion due 2017.

Note:
The initial rent at commencement of the lease in 2002 was £35,000 with rent reviews in 2007 and 2012.

Total current rent reserved:
£38,000 per annum.

Important Notice:
The Guide Price quoted must not be relied upon by prospective purchasers as a valuation or assessment of value of the property. It is intended to provide purchasers with an indication of the region at which the reserve may be set at the time of going to press. The guide price may be subject to variation and interested parties are advised to make regular checks for variations and should be aware that the reserve price may be either below or above the quoted guide price.

Prospective purchasers should also be aware that the eventual sale price may be above or below the guide level dependent upon competition, and should therefore not presume the guide to be indicative of the final expected sale price or the price the property is available at.

When setting the guide price, the auctioneers have given consideration to the seller’s instructions in respect of their indicated reserve price at the time of instruction. The reserve price, (the level below which the property will not be sold), remains confidential between the seller and the auctioneer. The guide price therefore, is intended to indicate the region at which the reserve price is intended to be set. The seller will confirm their final reserve price close to the auction date and if appropriate the auctioneers may adjust the guide price to reflect this.

1. Money laundering regulations: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Measurements: These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. These particulars are issued in good faith but do not constitute representations of fact or form part of any offer or contract. The matters referred to in these particulars should be independently verified by prospective buyers or tenants. Neither sequence (UK) limited nor any of its employees or agents has any authority to make or give any representation or warranty whatever in relation to this property.

Property info

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Barnard Marcus - Auctions, W6 on +44 20 3641 4905 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Barnard Marcus - Auctions, and do not constitute property particulars. Please contact Barnard Marcus - Auctions for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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