North House, North Street, Chichester, West Sussex, PO19 1LR
Offers in Region of
£1,900,000
£297.95 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
6,377 sq ft
592 sq m
- SECTOR
High street retail property for sale
Key features
- Chichester is a busy and attractive Cathedral city
- Strong retail centre with limited vacancies and good occupier demand
- Various asset management opportunities, such as re-gearing commercial leases and re-configuring the residential element
- Flat 8 was refurbished recently to demonstrate how the space can be used to unlock better layouts
- The property has undergone some refurbishment, including new roof, new windows to the rear elevation and some windows refurbished to the front elevation
- Total rent £193,240 pax
- Guide Price of £1,900,000 stc
- A purchase at this level would reflect a NIY of 9.52% after usual purchasers costs of 6.80%
- No VAT applicable
- Matterports available through the Data Room
Description
Description
The property comprises a three storey mid-terrace building. The ground floor, and part basement, are configured as three lock-up shops together with two separate accesses to the upper floors. The upper floors form six self-contained flats.
The six flats are presently configured as one Studio apartment (with separate kitchen), two 2-bedroom flat and three 1-bedroom flats. Two of which (4/4a) are accessed from the front directly on North Street and the remaining four via a passageway between Shops 1&2 on North Street.
Comic Shop Matterport -
Gallery Matterport -
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 subject property is situated within the pedestrianised part of North Street, towards the southern end of the street and within sight of the central Market Cross. North Street is one of prime retailing streets in the city.
Nearby occupiers include Marks and Spencer, Vinegar Hill, Katie Loxton, White Company, Lakeland and Toni & Guy.
Planning
There is an opportunity to reconfigure the upper floors to form 2 x 1-bedroom flats and 4 x 2-bedroom flats. Generally, all of the newly configured flats would have open living/kitchen space and shower rooms.
Flat 8 was refurbished recently to demonstrate how the space can be used to unlock better layouts, the result allowed the rent to rise to market otherwise the rest.
The recent refurbishment also included re-roofing over the residential part and new windows to the whole of the residential part of the rear elevation and four refurbished (overhauled frames, new sashes/ double glazing) to the front elevation. The common parts serving flats 5-8 have also been recently been redecorated.
Any such alterations would be subject to obtaining any necessary consents. All enquiries should be made with the local authority.
Interested parties should make their own planning enquiries and satisfy themselves in this regard.
Tenancy Information
Please refer to marketing details.
VAT
We understand that the property is not elected for VAT.
Accommodation
Please refer to marketing details.
EPC
Please refer to marketing details.
Legal Fees
Each party to bear their own legal costs incurred.
AML
Due to Government legislation, we are legally obliged to undertake Anti-Money Laundering checks on prospective Purchasers / Tenants where a transaction has a capital value of €15,000 (Euro) or more or a rental value of €10,000 (Euro) per calendar month or more. This includes checking proof and source of funds.
Please note that we need to obtain the relevant information and record this on file before a transaction can be contracted.
The property comprises a three storey mid-terrace building. The ground floor, and part basement, are configured as three lock-up shops together with two separate accesses to the upper floors. The upper floors form six self-contained flats.
The six flats are presently configured as one Studio apartment (with separate kitchen), two 2-bedroom flat and three 1-bedroom flats. Two of which (4/4a) are accessed from the front directly on North Street and the remaining four via a passageway between Shops 1&2 on North Street.
Comic Shop Matterport -
Gallery Matterport -
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 subject property is situated within the pedestrianised part of North Street, towards the southern end of the street and within sight of the central Market Cross. North Street is one of prime retailing streets in the city.
Nearby occupiers include Marks and Spencer, Vinegar Hill, Katie Loxton, White Company, Lakeland and Toni & Guy.
Planning
There is an opportunity to reconfigure the upper floors to form 2 x 1-bedroom flats and 4 x 2-bedroom flats. Generally, all of the newly configured flats would have open living/kitchen space and shower rooms.
Flat 8 was refurbished recently to demonstrate how the space can be used to unlock better layouts, the result allowed the rent to rise to market otherwise the rest.
The recent refurbishment also included re-roofing over the residential part and new windows to the whole of the residential part of the rear elevation and four refurbished (overhauled frames, new sashes/ double glazing) to the front elevation. The common parts serving flats 5-8 have also been recently been redecorated.
Any such alterations would be subject to obtaining any necessary consents. All enquiries should be made with the local authority.
Interested parties should make their own planning enquiries and satisfy themselves in this regard.
Tenancy Information
Please refer to marketing details.
VAT
We understand that the property is not elected for VAT.
Accommodation
Please refer to marketing details.
EPC
Please refer to marketing details.
Legal Fees
Each party to bear their own legal costs incurred.
AML
Due to Government legislation, we are legally obliged to undertake Anti-Money Laundering checks on prospective Purchasers / Tenants where a transaction has a capital value of €15,000 (Euro) or more or a rental value of €10,000 (Euro) per calendar month or more. This includes checking proof and source of funds.
Please note that we need to obtain the relevant information and record this on file before a transaction can be contracted.
Brochures
North House, North Street, Chichester, West Sussex, PO19 1LR
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Chichester Station0.5 miles
- Fishbourne Station1.6 miles
- Bosham Station3.0 miles
About Flude Property Consultants, Chichester
1 Old Market Avenue, Chichester, West Sussex, PO19 1SPIndustry affiliations:
Notes
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