24 South Street, Chichester, West Sussex, PO19

Description

Double Fronted Class E Premises
Sales Area 1,921 sq ft

Location

Chichester is an attractive cathedral city, and the county town of West Sussex. It is conveniently located along the A27 south coast trunk road, and lies approximately 15 miles to the east of Portsmouth and 30 miles west of Brighton. A mainline railway service to London reinforces commerce.

The property is situated on the western side of South Street, which is a prominent shopping destination within Chichester City Centre. South Street accommodates a number of national retailers including, Mistral, White Stuff, Sweaty Betty, Jojo Mama Bebe and Tesco Express. There are also a number of upmarket eateries including Wagamama, Cote Brasserie, Prezzo and Three Joes.

Planning

A new Use Classes Order (UCO) came into effect on 1st September 2020. Under the new UCO a new Use Class E was introduced to cover commercial, business and service uses. Use Class E encompasses A1, A2, A3, B1 and some D1 and D2 uses under the former UCO. We therefore understand that the premises benefit from Class E 'Commercial Business and Service' use within the Use Classes Order 2020.

Interested parties should make their own planning enquiries and satisfy themselves in this regard.



VAT

We understand the property is registered for VAT.

Accommodation

The property comprises a double fronted two storey Grade II Listed building which provides a desirable level of retail space over the ground and part of the first floors. There is also a storage and staffroom on the first floor.

The accommodation has the following approximate Net Internal Area (NIA):

Ground Floor Sales Area 1,505 sq ft
First Floor Sales Area 416 sq ft
Total Sales Area 1,921 sq ft
First Floor Storage 331 sq ft
Total NIA 2,252 sq ft

Business Rates / Council Tax Band

Rateable Value(2023): £49,750.

Following the Government's latest budget, it has been confirmed that there will be a 75% discount until 31st March 2025. Subject to annual cash cap of £110,000 per business and qualifying use.

Interested parties should make their own enquiries to satisfy themselves of their business rates liability.

EPC

We understand the property to have an EPC rating of C (56).

Legal Fees

Each party to bear their own legal costs incurred.

Terms

The property is available to let by way of a new full repairing and insuring lease for a term to be agreed at commencing rent of £55,000 per annum exclusive.

There is a licence fee payable for the rear fire escape access.