Superbly Presented Freehold Investment Opportunity Fully Let to Large Dentist Chain

Location

The property is located along Church Street in Storrington. The Town is situated at the foot of the South Downs being approximately 10 miles north of the popular seaside town of Worthing and approximately 13 miles south of its district town of Horsham. The nearby A283 links directly to the A24 north and southbound which is just a few minutes’ drive away from the subject property. There is a large pay and display car park within a few minutes’ walk and the property is also situated on a popular bus route (via West Street). The property is situated within a mix of residential and commercial properties with occupiers in the vicinity including Tesco Express, Waitrose & Partners, Arun Veterinary Group, Stable Antiques, Thirteen Restaurant and Storrington Bowling Club.

Description

The property comprises a three storey commercial and residential building located on the corner of Church Street and Rosemary Close in the heart of Storrington village. Externally at the rear there is a compound of garages which are part of the freehold title alongside the allocated 5 parking spaces which are demised to the Tenant.

This is seen as an excellent and rare opportunity to acquire a fully let income producing commercial investment in an affluent part of Sussex. The ground floor was superbly refurbished by the current Vendors in 2018 transforming the space from old tired offices into a thriving 5 surgery dental practice. Accessed via double doors from street level the practice currently has an inviting and spacious reception area leading to 5 surgery/treatment rooms with separate CT scanning and decontamination rooms. At the rear of the property is a staff kitchen and WC. The property benefits from three phase electricity, air conditioning, suspended ceilings with inset LED lighting, electric heating and non-slip flooring throughout (excluding reception which is wood effect LVT). The property also has superb natural light via 40ft double glazed window frontage.

All the flats above which comprise of 4x 2 Bedroom flats & 4 of the 5 garages in the compound behind are all sold off on long term leases. Each flat pays a peppercorn rent to the freeholder. Further information available upon request.

Accommodation

The property has the following approximate floor areas:

Reception	260 Sq Ft
Surgery One	162 Sq Ft
Surgery Two	113 Sq Ft
Surgery Three	128 Sq Ft
Office	52 Sq Ft
Plant Room	12 Sq Ft
Surgery Four	95 Sq Ft
Staff Room	127 Sq Ft
Decontamination Room	77 Sq Ft
CT Scanning Room	34 Sq Ft
Surgery Five	173 Sq Ft
TOTAL AREA	1,233 Sq Ft

Terms & Tenancy

The property is available freehold, subject to the aforementioned Tenancy & sold off Upper Floor flats.

The ground floor is let to Envisage Dental UK Limited for a term of 15 years from 01/10/24. The Lease contains no break clauses. The Landlord has a right to review the rent in October 2029. The passing rent is £36,000 Per Annum exclusive. A copy of the Lease is available to serious applicants upon request.

Guide Price & VAT

£500,000 (Five Hundred Thousand Pounds)

VAT is not to be charged on the purchase price

Business Rates

According to the VOA (Valuation Office Agency) the property has a rateable value of £12,500. Interested parties are asked to verify this information with Horsham District Council directly.

Legal Costs

Each party to pay their own legal costs incurred within this transaction

EPC

C(58)

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

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