1-4 Harfield Court, High Street, Bognor, PO21 1EE

Description
Harfield Court comprises an attractive retail investment opportunity arranged as three self-contained lock-up retail units on the ground floor, held on long leasehold interests. The units occupy a prominent position and benefit from frontage onto the High Street. The property offers investors a straightforward asset management opportunity within a well-established town centre location.

Location
Harfield Court is situated in the popular coastal town of Bognor Regis, West Sussex, benefiting from excellent road connections via the A29 and A27, providing access to Chichester, Worthing, Brighton and the wider South Coast. Bognor Regis railway station offers regular services to London Victoria and Gatwick Airport.

The property is conveniently located close to the town centre, within easy reach of a wide range of retail, leisure and business amenities. The seafront, railway station and main shopping areas are all within walking distance, making Harfield Court an attractive and accessible business location.

Terms
We are instructed to seek offers in excess of £300,000 reflecting a gross yield of 12.4% and a Net Initial Yield of 9.91% (assuming standard purchasers costs and allowance for service charge).

Tenure and Service Charge
The property is held virtual freehold under title number WSX253704 for a term of 999 years from 30th March 1997. There is a service charge of approximately £6,600 per annum for YE 2026.

VAT
We understand the property is not elected for VAT

Legal Costs
Each party to bear their own professional costs incurred in the transaction.

Tenancies
The property produces a current gross annual income £37,235 per annum.

EPC
The lock up shops have the below EPC ratings:
Unit 1 &2 - B46
Unit 3 - 87D
Unit 4 - 82D

Anti-Money Laundering Requirements
In accordance with Anti-Money Laundering requirements, two forms of identification will be required from the purchaser or tenant and any beneficial owner together with evidence/proof identifying the source of funds being relied upon to complete the transaction.