Long term income secured against a good quality, long established business.
Rustington is a popular West Sussex town located on the south coast between Littlehampton 1.5 miles to the west and Worthing 6.5 miles to the east. Brighton and Hove is located 16 miles to the east and Chichester 11.5 miles to the west.
The property is located on the established Brookside Trading Estate in Rustington. Nearby Occupiers include Aldi, Next, Chandlers BMW, Euro Car Parts, Screwfix and a variety of local occupiers.
The area is well connected by road, with the A259 and A27 providing east/west routes. The A24 is easily accessible to the north-east. The new Lyminster bypass, currently under construction, connects to the A259 1.5 miles to the west of the
property. It will provide improved access to the A27. Angmering Rail Station is located less than 1 mile to the east and provides regular rail services to Southampton, Brighton and London Victoria.
VAT is applicable. The property can be sold via a TOGC.
The property comprises a purpose built detached industrial/warehouse unit with landscaped gardens to the front (east) elevation and yard / parking area to the north elevation.
The property has the following approximate GIA:
Ground Floor Warehouse 8,161 sq ft 758.2 sq m
Ground Floor Office 714 sq ft 66.3 sq m
First Floor Office 714 sq ft 66.3 sq m
Total 9,589 sq ft 890.8 sq m
Each party to bear their own legal costs incurred.
Offers are sought of £985,000.
A purchase at £985,000 would reflect a Net Initial Yield of 6.22% assuming purchase costs of 5.8% (NB the vendor will top up the rent to £65,000 PA from day 1).
( Agency Pilot Software Ref: 3689 )