Prominent Corner Retail Unit
Total NIA 160.79 sq m (1,731 sq ft)
Chichester is an attractive cathedral city in the county town of West Sussex. It is conveniently located along the A27 south coast trunk road, and lies approximately 15 miles east of Portsmouth and 30 miles west of Brighton. A mainline railway service to London reinforces commerce.
There are currently no managed shopping centres in Chichester and in light of the historic nature of the retail core there is limited scope for future development.
The property is situated on the western side of The Hornet, which is a busy shopping destination within Chichester City Centre. Nearby occupiers include Papa John's, The Charcoal Grill, CMW Motorcycles and Drapers Yard Market and Studios.
We understand that the premises benefit from Class A1 use within the Use Classes Order 1987 (as amended).
We understand the property is registered for VAT.
The property comprises a self-contained, modern retail unit. Internally, the ground floor provides open plan sales area, together with first floor storage, kitchen and WC facilities.
We have measured and calculate the premises to have the following Net Internal Area (NIA):
Sales Area - 130.41 sq m (1,404 sq ft)
Ancillary - 30.38 sq m (327 sq ft)
Total NIA - 160.79 sq m (1,731 sq ft)
Business Rates / Council Tax Band
Rateable Value (2017): £17,000.
Following the Government's 2018 Autumn Budget, from April 2019 for the remaining 2 years of the current Rating List, all occupiers of retail units with a Rateable Value below £51,000 (including £50,500 but excluding £51,000), will receive a discount of 1/3 from their rates bill, subject to State Aid Limits (�200,000).
To be confirmed.
Each party to bear their own legal costs incurred.
The property is available to let by way of a new (effectively) full repairing and insuring lease for a term to be agreed at a commencing rent of £23,000 per annum exclusive.
( Agency Pilot Software Ref: 3508 )