Property Summary

A freehold and long lease mixed investment consisting of a large double fronted
commercial unit which represents an anchor store in the Parade. Sitting above the
commercial unit are four apartments, three have been sold off on long leases. A 1
bedroom first floor flat is included in the sale. The flat is in good condition, currently let on
an AST. Within the freehold is a variety of commercial and residential ground rents.
Section 5a notices will need to be served.

Location Situated within Strand Parade, Goring on Sea, a popular and well kept shopping parade.
Benefitting from a mix of independent and commercial users, like Lloyds Pharmacy and
The Co-Op. Currently there are no voids in Strand Parade which has been fully let for
many years. Durrington Station is a very short walk with Worthing Leisure Centre close by.
Opposite the Parade to the South is a new development by Barratt Homes. With a fully
sold-out new build development to the north. Strand Parade sits within a good residential
area and is popular with both residents and businesses

Ground Rents Within 7-9 Strand Parade are three leasehold flats, which have all been sold off on long
leases and charged a yearly ground rent totalling £300 pa for the three leasehold flats.
Also within Strand Parade are eleven commercial leases totalling £690 pa.

Current Rents McColls £19,132
Flat 7a £9,300
Ground rents £990

Price £575,000

lot type

Mixed Use

type

A substantial mixed commercial/residential investment in a prime corner location,
producing £29,442 p1

description

A freehold and long lease mixed investment consisting of a large double fronted
commercial unit which represents an anchor store in the Parade. Sitting above the
commercial unit are four apartments, three have been sold off on long leases. A 1
bedroom first floor flat is included in the sale. The flat is in good condition, currently let on
an AST. Within the freehold is a variety of commercial and residential ground rents.
Section 5a notices will need to be served.

Location Situated within Strand Parade, Goring on Sea, a popular and well kept shopping parade.
Benefitting from a mix of independent and commercial users, like Lloyds Pharmacy and
The Co-Op. Currently there are no voids in Strand Parade which has been fully let for
many years. Durrington Station is a very short walk with Worthing Leisure Centre close by.
Opposite the Parade to the South is a new development by Barratt Homes. With a fully
sold-out new build development to the north. Strand Parade sits within a good residential
area and is popular with both residents and businesses

Ground Rents Within 7-9 Strand Parade are three leasehold flats, which have all been sold off on long
leases and charged a yearly ground rent totalling £300 pa for the three leasehold flats.
Also within Strand Parade are eleven commercial leases totalling £690 pa.

Current Rents McColls £19,132
Flat 7a £9,300
Ground rents £990

Price £575,000