19 London Road, Bognor Regis, West Sussex

Description

The premises comprise of a self-contained retail unit arranged over two floors. Internally, the ground floor provides open plan sales area, together with storage and staff facilities on the first floor.

Externally, there is a small store and rear access. There are three parking spaces to the rear which can be utilised for loading.

Location

Bognor Regis is an affluent and popular resort town in West Sussex, ideally located on the south coast approximately 55 miles south west of London, 24 miles west of Brighton and six miles south east of Chichester.

London Road serves as one of Bognor Regis' principal commercial thoroughfares, benefitting as a fully pedestrianised high street in the town's central shopping district. The street is characterised by a range of national and independent occupiers including Holland & Barrett, Greggs, Superdrug, Robert Dyas and Costa.

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.

VAT

We understand that the property is not elected for VAT.

Accommodation

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

Business Rates / Council Tax Band

Rateable Value (2023): £22,250

Following the Government's latest budget, all occupied retail, hospitality and leisure properties receive a 40% discount from 1st April 2025 until 31st March 2026. Subject to annual cash cap of £110,000 per business and qualifying use.

EPC

We understand the property has an EPC rating of D.

Legal Fees

Each party to bear their own legal costs incurred.

AML

In accordance with current Government legislation, we are legally required to conduct Anti-Money Laundering (AML) checks on all prospective purchasers or tenants where the transaction involves a capital value of €15,000 (EUR) or more, or a rental value of €10,000 (EUR) per calendar month or greater.

This process includes verifying identity, as well as confirming the source and availability of funds. Please note that we must obtain and record this information before any transaction can be formalised or contracts exchanged.