Offers Over £150,000

• Freehold Investment Opportunity
• Income Producing
• Flat Sold off on a Long Lease
• Situated in an Established Parade

DESCRIPTION  An opportunity to purchase a freehold investment along an established parade of shops located in Lancing. This mixed use property is arranged over two floors and made up of a first floor flat, which is sold off on a long lease of 125 years and ground floor shop, currently let on a 20 year lease from 2021 and produces an income of £12,000pax. 

LOCATION The premises is located just over half a mile from Lancing town centre with its range of shopping facilities, cafes and restaurants. Lancing mainline train station is situated 0.6 miles away and provides short commuting routes to Worthing and Brighton. Local bus services also pass close by providing access to surrounding areas and offering easy access to the A27.

PRICE Offers are invited in the region of £150,000 for the freehold interest.

RENT The premises are let on a 20 year lease, from 2022, at a current rent of £12,000 per annum, exclusive.

EPC The property has an EPC rating of C.

BUSINESS RATES The rateable value from April 2023 provided by the Valuation Office Agency is £6,000. The small business rates for the financial year (2023 - 2024) is 49.9p in the £ making the rates payable approx. £2,994.00. However, since the premises have a rateable value of lower than £12,000, occupiers can expect to benefit from 100% rate relief, subject to status.

LEGAL FEES Each party is responsible for their own legal fees in this transaction.

VIEWING Strictly by appointment with Sole Agents, Jacobs Steel.

CONTACT:

Leigh Doherty 

Jacobs Steel - Commercial Manager

t: 01903 792785 e: leighdoherty@jacobs-steel.co.uk