7 and 7a Canada Grove, Bognor Regis, West Sussex

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Description

Investment/Development Opportunity
Shop suitable for owner occupation of conversion subject to planning
Size 1,214 sq ft (112.78 sq m)

Location

Bognor Regis is an affluent and popular resort town in West Sussex ideally located on the south coast, approximately six miles south east of Chichester.

The town benefits from excellent transport links with easy access to the A259 which links to the A27 (seven miles north of the town) and therefore the wider national road
network.

Canada Grove forms part of the A2166 between Station Road to the north and Argyle Road to the south.

Planning

We understand that the premises benefit from Class A1 use within the Use Classes Order 1987 (as amended).


VAT

Rents and prices are quoted exclusive of, but may be subject to VAT.

Accommodation

The property comprises a ground floor shop, self contained first floor flat and substantial yard area to the south and west of the property.

The Property will be sold with vacant possession of the ground floor shop.

The flat is subject to a 99 year lease from July 2009. The current ground rent is £150 pa rising to £300 pa after 33 years and £600 pa after 66 years. (not inspected).

The shop has the following floor areas:

Shop 87.88 sq m 946 sq ft
Side Extension 24.91 sq m 268 sq ft

Total 112.79 sq m 1,214 sq ft

Business Rates / Council Tax Band

Rateable Value (2017): £8,000

As the RV is below £12,000 we believe 100% small business rate relief is possible.

The first floor flat is Council Tax Band B

EPC

We understand the retail property has an EPC rating of TBC
The flat has an EPC rating of F38.

Legal Fees

Each party to bear their own legal costs incurred.

Terms

The property is for sale freehold, with vacant possession of the ground floor and subject to the long leasehold interest of the flat.

Price - offers in the region of £139,950 subject to contract.
( Agency Pilot Software Ref: 3491 )