34-36 Crabtree Lane, Lancing, West Sussex, BN15 9PQ

Property Details: • Type: N/A • Tenure: N/A • Floor Area: N/A

Key Features: • Income Producing • Two Bedroom Flat • Situated in an Established Parade • 100% Rate Relief (STS)

Location: • Nearest Station: N/A • Distance to Station: N/A

Agent Information: • Address: 12 Chapel Road, Worthing, BN11 1BJ

Full Description: LocationThe premises is located just over half a mile from Lancing town centre with its range of shopping facilities, cafes and restaurants. Lancing mainline train station is situated 0.6 miles away and provides short commuting routes to Worthing and Brighton. Local bus services also pass close by providing access to surrounding areas and offering easy access to the A27.DescriptionThis mid-terraced property presents an opportunity to acquire a mixed-use building comprising a fully let ground-floor commercial unit and self-contained maisonette arranged over the upper floor. The property currently generates a rental income of £27,600 per annum, with the commercial unit contributing £12,000 and the residential unit producing £15,600 per annum. The ground floor features a predominantly open-plan layout, benefiting from a rear storage room, WC, and single access door to the rear. The unit is currently let on a 20-year lease that commenced in 2021.Accessed via an external staircase, the upper floors comprise a self-contained marionette arranged over two floors, offering two bedrooms, a living room, kitchen, and bathroom.Externally, the property offers a rear garden and rear access.PriceOffers are invited in the region of £300,000 for the freehold interest.Tenure CommentsFreehold investmentRentThe premises are let on a 20 year lease, from 2022, at a current rent of £12,000 per annum, exclusive.The flat is let and producing a rent of £15,600 per annum.EPCThe property has an EPC rating of C - 59.VATWe are informed that VAT is not applicable on the terms quoted.UseWe understand the premises benefit from Class E use however, we would advise any potential tenant to check with the Planning Department to ascertain if their use is permitted.Legal FeesEach party is responsible for their own legal fees in this transaction.ViewingStrictly by appointment with Sole Agents, Jacobs Steel.