Martletts Corner, RH12

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Key Points

Summary

Freehold Retail and Residential Investment

Description

This investment opportunity comprises a fully let mixed use property, with retail units on the ground floor, along with 6 residential units on the upper floors. There are two 1-bedroom units and six 2-bedroom units. Private parking is to the rear, along with on-street parking to the front of the property.

Location

The property is located within the village of Rudgwick and benefits from a prominent trading position on the main thoroughfare, Church Street. The village is located 7.5 miles west of Horsham on the north side of A281.

Tenancy

Unit 1-2 on the ground floor is at present let to BP Wealth Management Limited until 8th December 2026 at a rent of £10,500 per annum. Unit 3-7 on the ground floor is let to Co-Operative Group Limited, from 21st April 2022 to 20th April 2037 at an initial rent of £38,000 per annum, with five-yearly reviews to open market rent, along with tenant only break options on every fifth anniversary of the term.

Flats 1-8 are all currently let on ASTs producing a total income of £106,200 per annum.

Terms

Curchod & Co are instructed to dispose of the freehold interest, and offers in excess of £2,400,000 are invited. A purchase at this level represents a NIY of 6.06% assuming purchasers costs of 6.36%.

Anti Money Laundering

To comply with Anti Money Laundering regulations, Curchod & Co undertake ID checks for all successful purchasers and tenants where legislation requires us to do so.