Retail premises for sale in Surrey Street, Littlehampton BN17

From £725,000 (£291.16/sq. ft)
Interested in this property? Call +44 1903 906510 * or Request Details

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Retail premises for sale 2,490 sq. ft*

Property description

Key Points

  • Part of a Major Town Centre Beautification/Improvement Programme (see download for details)
  • Total Income £51,000 per annum
  • Well Let To Savers Health & Beauty (Superdrug Group) + Residential Tenants
  • Adjacent Sainsburys/Iceland/Wetherspoons & Peacocks
  • 100% Income Producing
  • Description

    An opportunity to acquire a well let retail & residential investment property.

    12 Surrey Street is located in the heart of Littlehampton town centre with adjacent occupiers including Sainsburys, Iceland, Wetherspoons & Peacocks.
    The property is of two storey construction with retail at ground floor (approx 2,490 sqft) & residential upper floors comprising x4 letting rooms, x1 bathroom with shower/wc & x1 shower room/wc. Heating is via a combi gas boiler (untested)
    Access to the upper parts is via a rear of the property.
    The shop has a rear loading area.

    Upper parts (known as 12a) floorplan available to download. Please click the link above.

    Location

    Surrey Street is a main shopping street in the West Sussex coastal town of Littlehampton. The town is approximately 12 miles east of Chichester & 9 miles west of Worthing. It has a current population of around 60,000 people & a has a large catchment area.

    Sat nav: BN17 5BG

    Tenancy Information

    Ground Floor - let to Savers Health & Beauty Limited on Fri terms expiring April 2027. Rent currently £35,000 per annum exclusive with a review in April 2022.

    The first floor is fully let to multiple tenants on AST agreements. Historically, these have mainly been to local healthcare workers.

    Savers Information

    Savers Health & Beauty Limited are part of the Savers/Superdrug group & one of the largest high street retailers in the UK. The group is expanding UK wide with 50 new stores planned to open in 2020 (with many existing Superdrug stores rebranding as Savers) - source .
    They have recently upgraded the Surrey Street store with a new air conditioning system showing a commitment to future trading in Littlehampton.

    Income Details

    Total income: £51,000 pax

    Ground Floor Rent - £35,000 pax
    First Floor Rent - £16,000 pax approx

    Investment Profile/Price

    Freehold for sale with the benefit of the current income.

    Offers in the region of £725,000. A purchase at this level shows a buyer a Net Initial Yield after costs of approximately 6.75%

    Legal Costs

    Each party to pay their costs incurred in the transaction.

    Viewing

    By prior appointment only with sole agent Brierley & Coe

    Property info

    * Sizes listed are approximate. Please contact the agent to confirm actual size.

    Arrange Viewing

    For more information about this property, please contact
    Brierley and Coe, BN13 on +44 1903 906510 * (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 Brierley and Coe, and do not constitute property particulars. Please contact Brierley and Coe 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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