Lot O4 - 54 The Street, Littlehampton, Rustington, West Sussex, BN16 3NR

  • Unconditional Online Auction Sale
  • * Reserve not to exceed : £110,000

Freehold Shop Investment

  • Located in established neighbourhood parade
  • Let until 2020

Tenure

Freehold

Location

The property is situated on the North side of The Street, between its junctions with Church Road and Old Manor Road in an established trading location.
Occupiers close by include Cubitt & West Estate Agents, Leaders Estate Agents, Cats Protection Charity Shop, Chicken Lover and St Barnabas Hospice Charity Shop amongst other predominantly local traders. There is on street parking to the front of the property

Description

The property is arranged on ground floor only to provide a ground floor shop currently trading as a beauty salon and which interconnects with the adjoining property, No. 52 (not included in the sale).

VAT

VAT is applicable to this sale, please refer to the legal documents for further details.

Current Rent

Current Rent Reserved £12,000 p.a.

Buyers Fee

Buyers Fee -The successful purchaser will be required to pay the auctioneers administration fee of £600 inclusive of VAT. Other additional costs/fees may apply please see Special Conditions of Sale.


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Sold for £154,500

This auction lot is now closed.

Auction Ended

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* Reserve not to exceed:
£110,000
Gross initial yield:
10.9%
No. Present Lessee Accommodation Terms of Lease Agreement Current Rent £ p.a Next Review / Reversion
54 K Wetherfield Gross Frontage
Net Frontage
Shop Depth
Built Depth
Ground Floor
5.85 m
5.35 m
8.20 m
11.55 m
53.0 sq m
(19' 2")
(17' 6")
(26' 9")
(37' 9")
(570 sq ft)
15 years from 21.12.2005
FR&I
£12,000 p.a. Reversion 2020
Total £12,000 p.a.

  • * The Reserve Price is the minimum price at which the auctioneer is authorised to sell the lot at auction. The lot may be sold to the highest bidder at or above the Reserve Price but the auctioneer is not authorised to accept a bid below the Reserve Price.
  • The Reserve Price will only be disclosed once it has been met during bidding and not before.
  • The term "reserve not to exceed £..." means that the seller's lowest acceptable sale price will not exceed the quoted figure. The reserve price will not be set above this figure. However, it could be set at, or indeed below, the "reserve not to exceed" figure stated.
  • Reserve prices are subject to change up to the date of the auction.
  • At the commencement of marketing a starting price is to be announced. The starting price will be published 24 hours before bidding opens.
  • Lots may be withdrawn prior to auction.