Wisteria House, Market Square, Petworth, West Sussex, GU28 0AJ

Description

Attractive South-East Office Investment
Total Size - 3,389 sq ft (314.86 sq m)

Location

Petworth is a market town and civil parish in the Chichester district of West Sussex. It is located at the junction of the A272 (between Billingshurst and Midhurst), the A283 (London Road) and the A285 (Station Road). Chichester and the south coast lie approximately 15 miles to the south-west along the A285.

The subject property is situated in the centre of Petworth, and occupies a prominent mid-terrace position on the eastern side of Market Square. This is a busy location in terms of passing vehicular and pedestrian traffic.

Planning

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

Tenancy Information

The whole property is let to a firm of solicitors by way of named partners, trading as Glanvilles by way of a full repairing and inuring lease commencing 1 January 2019, expiring 31 December 2033. The passing rent is £26,250 per annum exclusive. The tenant has the option to break on 31 December 2029, giving at least six months notice. The tenant benefits from security of tenure under the 1954 Landlord and Tenant Act.

VAT

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

Accommodation

The property comprises a Grade II Listed, substantial three-storey period building, which was originally built in the 1700's.

Internally, the building is currently configured as self-contained office, over ground, first and second floors, together with a basement.

Externally, the building benefits from a rear garden, with direct access from the Market Square, and pedestrian access from Trumpers Lane. Within the garden is a small timber structure (referred to as 'the barn'), which is used for file storage.

We have measured and calculate the property to have the following approximate Net Internal Areas:

Area Sq Ft Sq M
Ground Floor - 997 92.62
First Floor - 1140 105.9
Second Floor - 554 51.46
Basement - 463 43.02
Barn - 235 21.85
Total - 3,389 314.86

Business Rates / Council Tax Band

Ratable Value (2023): £24,500

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

EPC

We understand the property has an EPC rating of D (90).

Legal Fees

Each party to bear their own legal costs incurred.

AML

Anti-Money Laundering Regulations 2017 Due to Government legislation we are legally obliged to undertake Anti-Money Laundering checks on prospective purchasers on transactions which involve a capital value of 15,000 euros or more. We are also required to request proof of funds. Further information available on request.