Withdrawn
Withdrawn Prior
Sold
Sold Prior
Sold Post
The property comprises a double fronted retail unit with residential upper parts.
Arranged across basement, ground and first floors, the property is part let and producing £12,000 per annum. The ground floor and basement are let to a private individual trading as a massage parlour whilst the upper parts are currently vacant.
Accessed via an alleyway from Pier Road, the upper parts comprise a single residential unit that was previously used as a four bedroom HMO. We understand that the flat previously generated approximately £23,000 per annum.
Works are required to the upper parts including the placement of fire doors and repairs to ceiling plaster in isolated areas. The first floor currently extends over part of the ground floor and there may be potential to extend the property to create a four bedroom unit (subject to obtaining the requisite consents).
Littlehampton is an affluent and popular seaside resort town. Pier Road is one of the principal retailing streets and prominent local occupiers include Iceland, JD Wetherspoon and Sainsburys.
Tenure
Freehold
Tenancy
The ground floor is let on a lease to a private individual for a term expiring 21/08/2028 and paying a rent of £12,000 per annum.
The lease is on internal repairing and insuring terms and is outside of the Security of Tenure provisions of the Landlord and Tenant 1954 Act.
We understand a deposit of £3,000 is held.
Planning
Whilst there are no extant planning consents, there may be potential to extend the first floor above the retail to create additional residential accommodation, subject to obtaining the requisite consents.
Rent
Notes
Works are required to the residential element of the property due to a Prohibition Order made by Arun District Council. Please consult the legal pack for more information.