Property for sale

Guildhall Street, Chichester PO19

N.B. This investment opportunity is held within a sipp and the Freehold and Headlease are already separate entities to enable this. The pension benefits from the £25,000 rental income from the restaurant (subject to sub lease). There is potential for a rental uplift At the review date (October 2027). There is additional Ground Rent income from the residential flats. The Freehold and the Headlease can be amalgamated if required to join the investment into one entity.

Located in a central location just off North Street, a fabulous Freehold investment opportunity. The property comprises a three storey Grade II listed building with a small basement.

The accommodation comprises a ground floor restaurant with small basement which is currently let on a full repairing and insuring (Fri) lease for £25,000 per annum to Phoenix Dining. The current lease expires in October 2032 .

The Freehold of the flats on the first and second floor are also being offered for sale.

These comprise:

Flat 1 (first floor): A studio apartment (approximately 284 sq. Ft.) let on a 125-year lease from 1st January 1989. Ground rent payable £150/annum.

Flat 2 (first floor): A two-bedroom apartment (approximately 750 sq. Ft.) let on a 125-year lease from 1st January 1989. Ground rent payable £150/annum.

Flat 3 (second floor): A one-bedroom apartment (approximately 382 sq. Ft.) let on a 125-year lease from 16th January 2015. Ground rent payable £150/annum.

To the rear of 4 Guildhall Street is a terrace and a parking area for 4 cars.

The terrace and one parking space is included in the restaurant lease. The three further spaces are included with the leasehold flats.

Location

Guildhall Street is a one-way road leading off North Street adjacent to Priory Park with plenty of on-street parking available. It is also very close to the mainly pedestrianised city precinct which offers a comprehensive range of shops and a wide variety of restaurants, bistros and bars. The arts are well catered for with Pallant House Gallery and the Chichester Festival and Minerva Theatres. Leisure facilities close by can be found at the Westgate Sports Centre, Chichester Racquets and Fitness Club, and the Festival Theatre, whilst other recreational activities include horse racing at Goodwood, which also has its own private country club and hosts the Festival of Speed and September Revival Meeting at its historic motor circuit. The fabulous Blue Flag beaches of West Wittering can be found approximately 8 miles to the south along with sailing from Chichester Harbour and nearby Bosham. There is a mainline railway station at Chichester providing access to Portsmouth along the coast and to London Victoria (approximately 1 hour 35 minutes).