Commercial property for sale in Rowlands Road, Worthing BN11
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Property features
- To be offered on Tuesday 16 April
- High Yielding Mixed Use Investment
- Eight Retail Units with Residential Upper Parts
- Fully Let - Producing £34,750 per annum
- Let on Six Separate Leases
- WAULT of 6.8 Years to Expiry
- Upper Parts Comprise Three Flats (sold Long Leasehold)
- Asset Management Potential
- Guide Price Reflects 11.58% Gross Yield
Property description
Strapline
Auction Sale - 15/04/2024
High Yielding, Multi-Let, Mixed Use Investment
Fully Let Corner Parade of Eight Retail Units (let to six tenants) with Residential Upper Parts. Producing a Total £34,750 per annum.
Description
The property comprises a high yielding, multi-let, mixed use investment forming a popular corner parade in Worthing.
Arranged over ground and first floors, the property comprises eight retail units to the ground floor with three residential flats to the upper parts, each with a separate access from street level.
The retail units are all fully let on six separate leases to five tenants whilst the upper parts are sold off on a long leasehold basis. The retail tenants comprise a mix of local businesses including a pharmacy, barbers and bakery. The Weighted Average Unexpired Lease Term (WAULT) for the retail units is an attractive 6.77 years.
The property forms a prominent corner parade at the junction of two major streets within Worthing, a popular south coast town.
Tenancy
Please see the tenancy schedule for full information.
For more information about this property, please contact
Savills - National Auctions, W1G on +44 20 8022 4160 * (local rate)
Disclaimer
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Savills - National Auctions, and do not constitute property particulars. Please contact Savills - National 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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