Property Details: • Type: Commercial Property • Tenure: N/A • Floor Area: N/A
Key Features: • Freehold Investment Opportunity • Prominent Parade • Lancing Village Centre • Fantastic Yield • 7 Commercial Units • Leasehold Flat Renewal Opportunity • Sole Agents • Ground Rent Income
Location: • Nearest Station: Lancing Station • Distance to Station: 0.1 miles
Agent Information: • Address: 5-7 South Street, Lancing, West Sussex BN15 8AP
Full Description: A rarely available freehold investment opportunity situated in the heart of Lancing Village in this busy prominent parade. The development offers either commercial units all being let long term and one residential unit. The opportunity offers the whole freehold and includes the leasehold flat renewal opportunity.Commercial Units - 1. Queensway, LancingTruffles - bakers/caféLease dates: 21/05/22 - 21/05/2032Annual Rent: 19,5302. Queensway, LancingC Ratis - deli/caféLease dates: 26/06/2023 - 26/06/2028Annual Rent: 9,0003-4. Queensway, LancingFireaway Pizza - takeawayLease dates: 27/08/2019 - 26/08/2029 (10 years)Annual Rent: 12,0005. Queensway, LancingStanely Ale House - pubLease dates: 01/05/2018 - 30/04/2022 (want to renew)Annual Rent: 12,0006-7. Queensway, LancingO'Curniciello - Italian restaurantLease dates: 26/08/2020 - 25/08/2030 (10 years)Annual Rent: 19,000The current owner would be open to offer for these units only, as number 8 and flat 14 are detached and currently have interest from the tenants to buy. Total income £71,530 per annum.Residential Units - Flat 9. 99 years from 2002 Flat 10. 99 years from 2002Flat 11. 99 years from 2002 Flat 12. 125 years from 2012 Flat 13. 99 years from 2002Tenure - The property is available freehold subject to the mentioned leases.Vat - We understand VAT is not charged on the purchase price.Legal Fees - Each party to pay their own legal costs unless otherwise agreed.Viewing - Strictly by appointment only through Robert Luff & Co.BrochuresQueensway, Lancing
