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    Key features

    • To be offered on Tuesday 27 February
    • Mixed Use Investment Opportunity
    • Ground Floor & Basement Retail Unit with Vacant Residential Uppers
    • Upper Parts Formerly 4 Bed HMO
    • Development Potential (subject to planning)
    • Potential to Create High Yielding Investment
    • ERV Approx. £35,000 per annum
    • Prominent Corner Frontage
    • Established and Popular Location
    • No VAT

    Description

    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.

    Additional information

    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

    £12,000 per annum

    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.

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      Local information

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

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