Lot 78

COMMERCIAL INVESTMENT OPPORTUNITY

Units 1-15 Norfolk Street, Worthing, West Sussex, BN11 4BB
Sold Prior

Currently let at £28,020 per annum

Situated close to Worthing town centre in this predominantly residential location being just off Norfolk Street close to its junction with Cobden Road.

This is an exciting opportunity to acquire the freehold of 13 lock up garages and workshops situated around a central courtyard accessed via a service road. We are advised that all of the units are currently let on informal license agreements producing a gross income of £28,020 per annum.

Tenancies

Units 1,2,3,4,8,9&14 are all single lock up garages.
Joinery firm occupies units 5-7 and 13 as workshops. They also occupy unit 8 as an office space and units 11-12 as storage.
Units 15-16 are let to a motor mechanics.
Unit 10 is let to a building company as a storage facility.
The first floor unit above 1-4 is an office/store.

The central courtyard is shared by all of the tenants and there is also a shared W.C.

Important

All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on Auction Day.

* Price Information

Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction).

We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.

Additional Fees

An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer.

All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to cliveemson.co.uk/buyers-fees/