Location

Description

A rare and exciting opportunity to purchase a mid-terraced, two storey commercial and residential property with the added benefit of vacant possession upon completion. The property comprises of a substantial ground floor retail premises which for many years has traded as a successful launderette with a self-contained two bedroom flat above.

The ground floor is accessed via pedestrian door directly off South Street and benefits from superb 17ft window frontage, tiled flooring, strip lighting, three phase electricity and could be sold either with the existing washing machine and tumble dryers in situ (by way of separate negotiation) or cleared ready for a new owner or occupier to fit out.

The first floor flat is accessed via the rear and comes with an added benefit of a rear enclosed garden. Accessed via metal stairs the flat is deceptively large and provides two bedrooms, kitchen, lounge and bathroom. It should be noted that the flat has a wide landing with loft access which it is felt could provide further accommodation, subject to obtaining the necessary planning consents. We are verbally informed that the flat has its own gas, water and electric connections and metering.

This is seen as an excellent opportunity for an investor or owner occupier to acquire flexible mixed use accommodation in a popular Sussex village and viewing is therefore highly recommended.

Accommodation

The property has the following approximate floor areas:

Ground Floor
Main Retail Area	443 Sq Ft
Ironing Room / Office	141 Sq Ft
Plant Room / Kitchen	135 Sq Ft
First Floor
Kitchen	71 Sq Ft
Bathroom	30 Sq Ft
Bedroom One	92 Sq Ft
Landing	75 Sq Ft
Bedroom Two	150 Sq Ft
Lounge	227 Sq Ft
TOTAL AREA	1,364 Sq Ft

Terms

The property is available freehold with full vacant possession upon completion

Guide Price & VAT

£400,000 (Four Hundred Thousand Pounds)

We are informed that VAT is not to be charged on the quoting terms

Opportunity

This is seen as an excellent investment opportunity with the property providing plenty of versatility.

Once fully let the property is likely to achieve a rent in the region of £28,000 Per Annum making this an attractive investment for either a new or seasoned investor.

There is break up potential as both the commercial ground floor and the residential first floor are self-contained and could be sold or let individually.

Alternatively, an owner occupier could potentially work and live within this attractive property and location.

Business Rates & Council Tax

According to the VOA (Valuation Office Agency) the property has a rateable value of £9,800. It is therefore felt that any new owner occupiers or Tenants may be eligible for 100% small business rates relief. Interested parties are asked to contact Adur & Worthing Council's directly to ascertain what relief is applicable to their business.

The flat has a Council Tax banding of A

Legal Costs

Each party to pay their own costs

EPC's

Ground Floor: C(52)
First Floor: E(53)

Anti-Money Laundering

In accordance with Anti-Money Laundering requirements, two forms of identification will be required from the purchaser or tenant and any beneficial owner together with evidence/proof identifying the source of funds being relied upon to complete the transaction