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The property comprises a high yielding mixed-use investment opportunity situated in the pedestrianised centre of Worthing; a popular south coast town.
Arranged across ground, first and second floors, the property comprises a retail unit to the ground floor and a two bedroom maisonette to the upper parts. The residential accommodation is accessed from the rear via Graham Road.
The property is let in its entirety on a single lease expiring 24th March 2032 and paying a rent of £20,000 per annum. The tenant had a break clause in 2022 which was not exercised.
Montague Street is one of the principal retail streets in Worthing and has a reputation for attracting artisans and independent retailers as well as a number of national brands. Nearby occupiers include Greggs, CEX, Sports Direct and New Look.
Tenure
Freehold
Tenancy
The property is let in its entirety on a single lease expiring 24th March 2032 and paying a rent of £20,000 per annum. The lease is on full repairing and insuring terms.
The tenant had a break clause in 2022 which was not exercised. There is a further tenant break option in 2027 which is also a rent review date.
Rent