HIGHLY REVERSIONARY RETAIL INVESTMENT WITH DEVELOPMENT POTENTIAL - The property is let to Shelter Limited on a 10 year full repairing and insuring lease term from 31st March 2010 at a rent of GBP 20,000 per annum exclusive. We have been advised there is an outstanding rent review from the 31st March 2015. Class G of Part 3 of The Town and Country Planning (General Permitted Development) (England) Order 2015 allows for a mixed use of A1 or A2 plus up to two flats, subject to a number of conditions. In our informal opinion, the accommodation over the first floor would suit conversion to a specious two bedroom flat. The current tenant in occupation utilises the first floor for ancillary storage. The tenant has not indicated their future leasing intentions but it might be possible to take advantage at lease renewal to re-develop the first floor under rights to develop, subject to usual compensation rules that apply to protected leases (Security of Tenure).
Two large ground floor shops with rear yards and rear vehicular access in one of Worthing's main suburban retailing areas. One is let as a hardware store at £20,000pa and the other is let to The Co-operative Group (CWS) Ltd as a funeral parlour at £20,000pa. The upper floors comprise four flats sold on long leases with ground rents totalling £550pa.
The subject property is a terraced; three storey building arranged over basement, ground, first and second floors. The building has a grey façade on the ground floor and the first and second floors are of traditional red brickwork. Immediately adjacent to the subject premises is an alleyway, which provides access to the car park to the rear of the premises, comprising space for circa five vehicles.
- Former Natwest Bank Premises For Sale - Offers in excess of £380,000 - Arranged over ground, first and second floors, totalling 2,488 sq ft
For Sale - Bank Property - Former located in Goring-By-Sea
Type: General Retail, Retail - High Street, Retail
Built in 1906, Courtlands is an impressive three storey Grade II Listed office building, situated in approximately 4.5 acres of magnicent mature gardens, which extend to the south of the property and include small woodland and a lake.
A car park is located to the front of the building offering parking for up to 55 cars.
The construction is brick with stone dressings and a slate roof and the property is entered via a spectacular entrance hall with a domed glass ceiling, large wrap-around wooden staircase and restored Wedgewood pattern plaster wall mouldings.
The building is steeped in history and many of its original features have been protected and listed, particularly in the 'Gold Room' where an original Queen Ann mantelpiece exists. The architect, Robert Adam, specialised in Roman and Italian styles and his favourite designs were wreaths and patrae, many of which can be seen on the walls and staircases at Courtlands, alongside honeysuckle, cherubs and fan ornaments.
Courtlands for the last 20 years has been HQ offices for an international software company and features large and attractive meeting and training rooms, together with a multitude of smaller individual rooms. There is a passenger lift (currently not in operation), basement storage, staff kitchen and several Male and Female WC facilities throughout the building.
The property comprises a 4.55 acre site with a 53,299 sq ft office building. At the western end of the site, fronting Southdownview Road, there is the office building which was constructed in the 1970�s and incorporates two separate buildings connected by way of a link. The northern section is arranged around a central courtyard with ground and two upper floors, with the southern wing being rectangular and arranged over ground and first floors. At the eastern end of the site, overlooking Dominion Way there is an extensive car parking area for 282 cars.
Worthing is the largest town in West Sussex with a population of circa 100,000. It is located 55 miles south of London and 12 miles west of Brighton. It is home to many large scale office occupiers including West Sussex County Council, Sussex Police, Equiniti, Southern Water and the Environment Agency.
The property is located in an established industrial area on the north eastern edge of Worthing. There are a number of industrial occupiers in this location already. The largest is GSK who occupy approximately 850,000 sq ft on circa 50 acres. Other occupiers include Allergy Therapeutics, Booker Cash & Carry, Computer & Printable Label Systems, Roscomac & Wenban Smith. ( Agency Pilot Software Ref: 758881 )
Southdownview Road, Worthing, BN14 8NH
Type: Warehouse, Land, General Industrial, Industrial, Commercial Land