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Lot 12

Commercial Investment – Gross Yield 15%
6 Week Completion

Situation

Located close to the junction with North Street, in the centre of Storrington, nearby multiples such as Waitrose, HSBC, Oxfam, One Stop, Boots, McColl's and a wide variety of independent retailers.
Storrington is an attractive and affluent village located on the main A283 between Pulborough and Washington within easy reach of the A24, approx. 8 miles north of Worthing.

Property

Comprising a Ground Floor Shop.

Accommodation

Ground Floor Shop
Gross Frontage 20'5"
Internal Width 17'9"
Shop Depth 46'0"
Built Depth 49'5"
Staff & Customer WCs

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The property is let on a full repairing and insuring lease to Coral Estates Limited (see Tenant Profile) for a term of 21 years from 1st April 2004 at a current rent of £15,000 per annum exclusive.

Tenant Profile

The Coral brand of betting shops forms part of Entain plc, a FTSE 100 company that is one of the world's largest sports betting and gaming groups operating in the online and retail sector. Entain operates in over 40 countries, across 5 continents around the globe (see: www.entaingroup.com).

Note 1: Coral have been in occupation for approx. 18 years.

Note 2: There is a flying freehold above the property which is not included in the sale.

*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 £1,500 including 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.

8–10 High Street, Storrington, West Sussex RH20 4DU