138-140 Middleton Road, Bognor Regis,
West Sussex, PO22 6DB
For Sale
Investment
Asking Price £550,000
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Commercial
The ground floor is currently let to a café which benefits from laminate flooring, various light fittings, double glazed shop front and ample electrical and data sockets. The property provides open plan retail space for front with rear kitchen and WC.
Residential
The flat is accessed via self contained entrance on the Western elevation with stairs leading to a well presented three bedroom flat which has been refurbished throughout within the last 24 months. Comprising of three bedrooms, bathroom, kitchen and lounge. The flat benefits from its own water and electric connections.
This is seen as a superb opportunity for an investor to acquire a substantial mixed-use premises within a popular location and with excellent asset management potential and viewing is therefore highly recommended.
138 Middleton Road – the property is let on a new 5 year FRI lease which ends on 31.03.2031.
140 Middleton Road – the property is let on a new 5 year FRI lease which ends on 01/08/2031.
The current passing rent is £24,000 per annum.
140a Middleton Road – is currently let to an individual on a new 12 month AST agreement which is on a periodic tenancy at a passing rent of £16,800 per annum.
Copies of the lease, AST agreement and any associated documentation are available by the selling agent by request.
138 Middleton Road – £8,200
140 Middleton Road – £5,800
140a Middleton Road – Council Tax Band C
VAT - Not To Be Charged.
140 Middleton Road – (D)
140a Middleton Road – (D)
Attractive Mixed Use Investment Opportunity in Heart of West Sussex Village
Location
138-140 Middleton Road occupies a prominent position within the established village centre of Middleton On Sea in West Sussex. The property forms part a well-established local community surrounded by a range of independent retailers, cafes, professional services and everyday amenities. Middleton on Sea’s popular beach and seafront are within easy reach, whilst the nearby coastal town of Bognor Regis and Littlehampton provide a wider range of shopping, leisure, and employment facilities. The area benefits from good road connections with the A259 providing access towards Bognor Regis (2.6 miles), Chichester (9 miles) and Littlehampton (6 miles). The immediate surroundings provide an established and convenient catchment for both commercial and residential occupiers.
Description
The property comprises of a detached building of standard brick construction which has been rendered over under a tile hung pitched roof. Originally constructed as a self contained residential dwelling the property currently comprises of two ground floor retail units with a self contained three bedroom flat at first floor level. The property sits on a plot approximately 0.158 acres (6,568 sq ft) and is surrounded by front and side lawned areas and rear courtyard.Commercial
The ground floor is currently let to a café which benefits from laminate flooring, various light fittings, double glazed shop front and ample electrical and data sockets. The property provides open plan retail space for front with rear kitchen and WC.
Residential
The flat is accessed via self contained entrance on the Western elevation with stairs leading to a well presented three bedroom flat which has been refurbished throughout within the last 24 months. Comprising of three bedrooms, bathroom, kitchen and lounge. The flat benefits from its own water and electric connections.
This is seen as a superb opportunity for an investor to acquire a substantial mixed-use premises within a popular location and with excellent asset management potential and viewing is therefore highly recommended.
Accommodation
The property has the following approx floor areas:| 138 Middleton Road | 377 Sq Ft |
| 140 Middleton Road | 365 Sq Ft |
| 140a Middleton Road | 904 Sq Ft |
Terms
The property is available freehold subject to the below mentioned tenancies:138 Middleton Road – the property is let on a new 5 year FRI lease which ends on 31.03.2031.
140 Middleton Road – the property is let on a new 5 year FRI lease which ends on 01/08/2031.
The current passing rent is £24,000 per annum.
140a Middleton Road – is currently let to an individual on a new 12 month AST agreement which is on a periodic tenancy at a passing rent of £16,800 per annum.
Copies of the lease, AST agreement and any associated documentation are available by the selling agent by request.
Guide Price
£550,000 FreeholdBusiness Rates & VAT
According to the VOA (Valuation Office Agency) the commercial elements has the following rateable values:138 Middleton Road – £8,200
140 Middleton Road – £5,800
140a Middleton Road – Council Tax Band C
VAT - Not To Be Charged.
Legal Costs
Each Party to Pay Their OwnEPC
138 Middleton Road – (C)140 Middleton Road – (D)
140a Middleton Road – (D)
Anti-Money Laundering
in accordance with anti-money laundering requirements, two forms of identification will be required from the tenant and any beneficial owner together evidence /proof identifying the source of funds being relied upon to complete the transactionSummary
- Situated in Heart of Popular West Sussex Village Close to all Local Amenities
- Comprising of Two Established Income Producing Retail Units With Self Contained Residential Flat Above
- Current Rental Income of £40,800 Per Annum Exclusive
- Superb Asset Management Opportunity
- Rare Opportunity
- Viewing Highly Recommended
