92 Montague Street, Worthing, BN11 3HF
- PROPERTY TYPE
Mixed Use
- BEDROOMS
2
- SIZE
Ask agent
Description
**For Sale By Auction on Thursday 25 January 2024**
*Guide Price £235,000
Freehold Mixed Investment In Central Worthing Producing A Contractual Rent Of £20,000 Per Annum
Description
The building forms part of a terrace on the north side of Montague Street. This three storey building comprises of a ground floor commercial unit - currently used as an electrical sales/repair shop. Over the first and second floor is a 2 bedroom maisonette, with living room, kitchen and shower room. The flat can be accessed via the rear of the shop at 2G Graham Road.
Situation
The property is situated in Worthing Town Centre and is surrounded by a variety of independent & commercial traders. Worthing seafront & mainline station are within walking distance of the property - providing direct links to London Victoria.
Accommodation
Total Floor Area - 144 sq.m.
NB WE DRAW YOUR ATTENTION TO THE SPECIAL CONDITIONS IN THE LEGAL PACK, REFERRING TO OTHER CHARGES IN ADDITION TO THE PURCHASE PRICE. PLEASE ENSURE YOU READ THE SPECIAL CONDITIONS THOROUGHLY
Tenure - Freehold
Tenancy
The entire building is let on a 15 year lease - from 25th March 2017 with rent review dates on 25th March 2022 and 25 March 2027, with a Break clause on the fifth and tenth anniversary of the lease.
Rent
At an initial rent of £18,500 pa from 25th March 2017 until 24th March 2018, then at a rate of £19,000 pa from 25th March 2018 until 25th March 2019 and then £20,000 pa and then revised pursuant to this lease and interim rent determined under the 1954 Act. Full repairing and insuring terms.
Rateable Value - £10,250
EPC Rating - C
Brochures
Legal Documents92 Montague Street, Worthing, BN11 3HF
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Worthing Station0.6 miles
- West Worthing Station1.0 miles
- East Worthing Station1.2 miles
About Austin Gray, Auction House Sussex
Austin Gray LLP, 37 Vernon Terrace, Brighton, BN1 3JH
Notes
Disclaimer - Property reference 233136. 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 Austin Gray, Auction House Sussex. 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.
Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Austin Gray, Auction House Sussex on 01273 109784.
*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”
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