42A & 42B Lower Street

VILLAGE RETAIL INVESTMENT

FREEHOLD FOR SALE

Status

For Sale

Location

Pulborough is a village situated within the South Downs National Park, accessed from the A29. The premises are located on the northern side of Lower Street, (the A283) the main thoroughfare through the village. Pulborough offers a variety of independent retailers including amongst others a coffee shop/café, a florist, a wine merchant and Pulborough Stores. Situated in the centre of Pulborough with village car park and railway station within close walking distance. The shops can be accessed from the nearby public car park via footpath in Barn House Lane.

Description

Premises comprise two units, both providing a split-level ground floor retail area together with an office, store and WC at first floor level.

Available area

The accommodation comprises the following approximate net internal floor areas:

Tenure

The premises are available by way of a sale of the freehold investment, subject to the existing tenancies.

Tenancies

42A - Let to an individual by way of a 15 year lease outside of the Landlord & Tenant Act from 01 January 2024, at a rent of £7,500 per annum exclusive. There is a break clause for both parties on 1 January 2026 and 01 June 2034.

42B - Let to an individual by way of a 5 year lease outside of the Landlord & Tenant Act from 01 December 2024, at the current rent of £8,250 per annum exclusive. There is a break clause for both parties and an upward only rent review, both on 01 June 2027.

VAT

VAT is not applicable on the terms quoted.

Legal Costs

Each party to be responsible for their own legal costs.

Price

Offers in excess of £200,000

Business Rates

42A has a Rateable Value of £4,550 and 42B a Rateable Value of £4,600. Both have a UBR of 49.9 p in £. 100% small business rates relief is available subject to status

Energy Performance Rating

Property graded as B-C (48-52)