Skip to content
This property has been removed by the agent.
For more information please contact the agent directly using the details provided.
View similar properties
UNDER OFFER

11 - 14 Southgate, Chichester, West Sussex, PO19

Offers in Excess of
£1,000,000

£237.59 per sq ft

Business rates & charges may apply

Flude Property Consultants, Chichester
SIZE AVAILABLE

4,209 sq ft

391 sq m

SECTOR

Commercial property for sale

Key features

  • Chichester is an affluent Cathedral City in West Sussex
  • Four self-contained retail units and one bedroom flat
  • Fully let intact freehold
  • Future asset management opportunities
  • Total NIA 391.03 sq m (4,209 sq ft)
  • Total current rent £68,700 per annum for the whole
  • ERV for £74,250 per annum for the whole
  • Offers in excess of £1,000,000, subject to the tenancies and contract
  • Property not registered for VAT
  • A purchase at this level would reflect an attractive net initial yield of 6.50% on the commercial element, after graduated purchasers costs of 5.75% Reversionary yield of 7.70% for the commercial e

Description

Description

The property comprises an unbroken and intact terrace of four lock-up shops and a large self-contained one bedroom flat. 11 and 12 Southgate comprise ground floor lock-up retail units. The flat is located directly above these two shops. 13 and 14 Southgate are each arranged over the ground and first floors. These two shops are Grade II Listed.

To the rear of the property is a two story structure, which is used as a garage and store. This building is positioned at the bottom of what would be the garden of 11 Southgate. Attached to the garage, to the north, is a single storey room which is located at the bottom of what would be the garden of 13 Southgate.

There is vehicular and pedestrian access to the rear of the property through an underpass in Avenue House, on Avenue De Chartres; and access to the flat is only available from the rear of the property.

The flat is accessed up a flight of external stairs and over a rooftop patio area, and is known as 13a Southgate.

Location

The Cathedral City of Chichester is located approximately 65 miles south west of London, 15 miles east of Portsmouth and 30 miles west of Brighton.

The city has excellent road communications being situated on the A27 dual-carriageway which runs east to Worthing and Brighton and west to Portsmouth and Southampton.

By rail there are frequent services to London, as a result Chichester is a popular commuter location for those working in London's City and West End.

The property is situated in central Chichester, positioned on the western side of Southgate, just to the north of its junction with Market Avenue. Southgate is a busy location in terms of pedestrian and vehicular prominence, and forms a thoroughfare to South Street, and the centre of the city from the Avenue De Chartres car park and train station.

Planning

We understand that the premises benefit from A1/ A2/ A3/ A4/ A5 use within the Use Classes Order 1987 (as amended).


VAT

Rents and prices are quoted exclusive of but may be subject to VAT.

EPC

We understand the property has an EPC rating of C.

Legal Fees

Each party to bear their own legal costs incurred.

Terms

Price £1,000,000 (One Million Pounds), subject to tenancies and contract.

A purchase at this level would reflect an attractive net initial yield of 7.4% on the commercial element, after usual purchaser's costs of 6.8% and a reversionary yield of 7.90% based on the ERV for the commercial element.

The above figures are based on a value of £225,000 for the residential element.

11 - 14 Southgate, Chichester, West Sussex, PO19

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Chichester Station0.1 miles
  • Fishbourne Station1.6 miles
  • Bosham Station3.0 miles

About Flude Property Consultants, Chichester

1 Old Market Avenue, Chichester, West Sussex, PO19 1SP

Flude Property Consultants, Chichester

Flude Property Consultants is a regional independent firm of Chartered Surveyors regulated by the Royal Institution of Chartered Surveyors (RICS) who specialise in advising clients with commercial property interests.

Our main areas of expertise are commercial property agency, lease advisory (rent reviews, lease renewals and lease re-gears), property management, valuation, rating, investment and development property.

We are a commercially minded practice who understand the needs and

More properties from Flude Property Consultants, Chichester

Industry affiliations

Royal Institute of Chartered Surveyors

Notes

These notes are private, only you can see them.

Disclaimer - Property reference 2668. 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 Flude Property Consultants, Chichester. 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.

Map data ©OpenStreetMap contributors.

Your search history

You have no recent searches.