Property description
Robert Luff & Co are delighted to offer this fantastic rare investment opportunity ideally situated in the favoured Tarring/West Worthing location yards from the mainline station with local amenities and plenty of passers by. The ground floor unit would let for £9,000 per annum is currently a thriving kitchen showroom. Upstairs there are three flats all let on AST's with long term tenants at £450 pcm, £500 pcm and £595 pcm offering a total annual income of £27,000 offering close to a 7.5% CIRCA return of the asking price. The freehold of 5 flats would be included in the purchase as well as the shop.
COMMERCIAL UNIT
This unit has a tenant waiting for a 5 year lease at £9,000 per annum, however any buyer could occupy with first refusal. The unit is ideally positioned with a large shop front facing the busy South Street shopping area in Tarring. Currently used as a Kitchen Showroom.
Private Entrance
A private entrance to the side of the shop opens into:
Communal Entrance
Door to rear access stairs leading up to three flats over two floors.
FLAT 1 - CURRENTLY LET ON AN AST WITH A LONG TERM TENANT AT £500 PCM.
Entrance Hall
Hanging space, door into:
Inner Entrance Hall
Skimmed ceiling, steps down into:
Studio Room - 15' 10'' x 9' 7'' (4.82m x 2.92m)
Double glazed windows to rear, double glazed sky light, radiator, built in range of wardrobes and shelving, wall mounted cupboard enclosing combination boiler. television point, telephone point, wall mounted entry phone, skimmed ceiling, spotlights.
Modern Kitchen - 11' 0'' x 4' 9'' (3.35m x 1.45m)
Stainless steel single sink unit inset to work surfaces with mixer tap and drainer, matching range of wall and base units, integrated washing machine and fridge, built in oven and four ring hob, stainless steel extractor fan above, tiled floor, part tiled walls, feature underlighting.
Bathroom
Double glazed frosted window to rear, panel enclosed bath with shower and screen, low level flush wc, wall mounted wash hand basin, tiled floor and fully tiled walls, chrome heated towel rail.
FLAT 2 - CURRENTLY LET ON AN AST WITH A LONG TERM TENANT AT £595 PCM.
Front Door
Opening to entrance hall, smoke alarm, door to:
Lounge/Kitchen - 15' 7'' x 13' 3'' (4.75m x 4.04m)
Double glazed window, radiator, entry phone handset, television point, telephone point, cupboard housing central heating boiler and time controls, cupboard with electric circuit breaker fuse box. KITCHEN AREA - tiled floor, one and a half bowl single drainer single unit with mixer taps, cupboards under and built in fridge, washing machine, wall mounted cupboards over, work top surfaces, built in oven and hob with extractor over.
Bedroom One - 11' 7'' x 8' 7'' (3.53m x 2.61m)
Measurements to include built in wardrobes, double wardrobe with hanging space and cupboards over, radiator, double glazing and television point.
Bathroom/WC
Low level flush wc, panelled bath with shower and screen and mixer taps, tiled walls and floor, chrome towel rail, wash hand basin with cupboards below, fully mirror tiled wall.
FLAT 3 - CURRENTLY LET ON AN AST WITH A LONG STANDING TENANT AT £450 PCM.
Communal entrance
Access via entry phone, stairs leading up to top floor, private door into:
Entrance Hall
Double glazed Velux window to front, recess area with built in shelving, built in meter cupboard, door into:
Sudio Room - 14' 6'' x 12' 8'' (4.42m x 3.86m)
Double glazed Velux window to front and rear aspect, radiator, television point, built in eaves storage cupboard, built in kitchen including one and a half bowl stainless steel sink unit inset to oak effect work surface with mixer tap and drainer, matching range of wall and base units, built in oven, integrated washing machine and fridge with freezer compartment, cupboard enclosed boiler, skimmed ceiling with spotlights, door into:
Bathroom - 7' 5'' x 6' 2'' (2.26m x 1.88m)
Double glazed Velux window to rear, panel enclosed bath with tiled surround, chrome mixer taps and shower attachment, wash hand basin inset to vanity unit below, low level flush wc, tiled floor, part tiled walls, chrome heated towel rail, skimmed ceiling, extractor fan.
Property Features :
- Investment Opportunity
- 7% Return
- Ground Floor Retail Unit
- Freehold
- Three Flats