Leasehold Commercial Investment - Central Bognor Regis - Producing £11,400pa

Long leasehold ground floor, commercial unit located on London Road, Bognor Regis. The commercial unit, is let under a 5 year lease to 'Timpsons Ltd' at a rent of £11,400 pa. Situation Central Buildings - 3 London Road, forms part of a terrace of properties in a busy parade. The area is populated by many well established independent traders, including restaurants, bars and coffee shops. Numerous buses serve the area, and Bognor Regis Mainline Railway Station offering direct routes to London, is less than 5 minutes from the property, Accommodation Retail area - 57.89 sq.m Rateable Value - £11,000 Tenure Leasehold - 999 year lease from the 1st January,1980. The ground rent payable to the Freeholder is £5 pa. Tenancy Let on a 5 year lease from 1st February 2014, at a rent of £11,400pa to Timpsons Ltd. We've been informed Timpsons Ltd have signed a new 5 year lease from 29th November 2024, expiring 28th November 2029, we haven't seen a copy of the new lease to confirm the current rent. A copy of the new lease will be uploaded to the legal pack. EPC Rating - E

Lot Type

Commercial Investment

Additional Fees

Administration Charge - Purchasers will be required to pay an Administration fee of 0.5% (inc VAT) of the sale price, subject to a minimum of £1,500 (£1,250 plus VAT)

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.