Get brand editions for Nicholas James, Hove

6 bedroom commercial property for sale

Chapel Road, Worthing

Sold STC £750,000

Property Description

Full description

Tenure: Freehold

INVESTMENT OPPORTUNITY. Freehold mixed-use investment comprising a ground floor shop with 6 room HMO above let and producing £56,100 per annum. The building has just been refurbished to a high standard and comes with the option of a guaranteed rent for three years, to offer hassle-free income. Centrally located in Worthing town centre, 0.2 miles to Worthing Pier and seafront.

Shop

The ground floor is let to a barber shop on a 10 year lease from 27th October 2020. There is a tenant only break clause at year 2 and a landlord break clause at year 5. The current rent is £9,000 per annum however increases to £10,000pa for the second year, £11,000pa for the third, fourth and fifth year and £12,000pa for the years following.

HMO

The HMO is arranged over 4 storeys with a shared living room and laundry facilities on the ground floor, with 6 bed/sitting rooms over with two full shower rooms.

The rooms are in the process of being let however when fully let will produce an income of £47,100 per annum. Please ask for an up to date rent schedule.

Each of the rooms have been refurbished to a high standard and come with a kitchen area, television and WIFI.

Total rent £56,100 per annum.

Guaranteed rent

There is an option to purchase the property subject to a 3 year lease of the whole building at a rent of £46,500 per annum. This offer will include payment of electric, water, council tax, broadband, management charges, interior repairs and void periods. The purchaser will be responsible for external repairs only, however the exterior has very recently been refurbished and decorated.

This is a fantastic opportunity for a 'turn key' investment with income from day one.  


Nearest stations

  • Worthing (0.5 mi)
  • East Worthing (0.9 mi)
  • West Worthing (1.1 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Nicholas James, Hove

Unit 7, Hove Business Centre, Fonthill Road, Hove, BN3 6HA

01273 839471 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Floorplans


To view this property or request more details, contact:

Nicholas James, Hove

Unit 7, Hove Business Centre, Fonthill Road, Hove, BN3 6HA

01273 839471 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Worthing (0.5 mi)
  • East Worthing (0.9 mi)
  • West Worthing (1.1 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Nicholas James, Hove

Unit 7, Hove Business Centre, Fonthill Road, Hove, BN3 6HA

01273 839471 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 103021000601. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Nicholas James, Hove. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

* Average speeds are based on the download speeds of at least 50% of customers at peak time (8pm to 10pm) from packages available on comparethemarket.com. Speed can be affected by a range of technical and environmental factors. The speed you receive where you live may be lower than that listed above. You can check the estimated speed to your property prior to purchasing. Fibre/cable services at your postcode are subject to availability. You can confirm availability on the provider's website. Providers may increase charges. You should have the right to exit your contract without penalty if this happens. The information is provided and maintained by Decision Technologies Limited.

Map data OpenStreetMap contributors.