Property Auctions London, Property Auctioneers London, London Property Auctions, Property Auctions London

Lot 41 Click here for addendum

6 Week completion

SITUATION

Occupying a prime retail pitch in the pedestrianised section of the town centre, between South Street and Montague Place, adjacent to W H Smith and Rush Hair, diagonally opposite the Royal Arcade and close to branches of Debenhams, Beales Dept Store, Waterstones, H. Samuel, Topshop, Starbucks and only a minute's walk from the Sea Front and Pier.
Worthing is a popular coastal resort and a busy commercial centre only 9 miles west of Brighton and enjoying excellent road links with the A27.

PROPERTY

A mid terrace building comprising a Ground Floor Shop with internal access to Ancillary Accommodation on the first and second floors.

ACCOMMODATION

Ground Floor Shop
Gross Frontage 15'8"
Internal Width 12'3"
Shop Depth 40'3"
Built Depth 50'9"
Sales Area Approx 460 sq ft
Store Area Approx 180 sq ft
First Floor Ancillary
Area Approx 325 sq ft
2 WCs
Second Floor Ancillary
Area Approx 395 sq ft

Total Area Approx 1,360 sq ft

VAT is applicable to this Lot

FREEHOLD

TENANCY

The entire property is let on a full repairing and insuring lease (subject to a photographic schedule of condition) to Virgin Media Limited (having 135 branches) (T/O for Y/E 31/12/15 £504.9m, Pre-Tax Profit £627.8m and Shareholders' Funds £5.18bn) for a term of 5 years from 20th February 2015 at a current rent of £30,000 per annum exclusive.

Note: The tenant did not operate their February 2018 Break Clause.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,000 plus VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

6 Montague Street, Worthing, West Sussex BN11 3HA