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10 High St 8,011 sq ft Retail Property Worthing BN11 1NU £1,150,000 (£143.55/sq ft) 10.87% Net Initial Yield
INVESTMENT HIGHLIGHTS
- £1,150,000 OR WILL SPLIT £450,000/ £700,000.
- HIGHLY IMPRESSIVE FORMER CHURCH BUILDING.
- HIGHLY PROMINANT TOWN CENTRE POSITION.
- DEVELOPMENT POTENTIAL.
- CURRENTLY BAR/CLUB PREMISES CAPACITY 750.
- SUIT A VARIETY OF USES.
EXECUTIVE SUMMARY
A substantial premises made up of two adjoining units each with separate entrances. The building is let to Group Entertainment Ltd trading as Angels Bar & Nightclub. The premises are let on a 15 year lease at a current annual rent is currently £125,000, rising to £135,000 from 2025 for the remainder of the term.
The premises are predominantly open plan and consist of a part mezzanine seating area with bar which overlooks the main dance area located on the ground floor, comprising of bar, seating booths and DJ area. An internal door leads to a further self contained bar area with dance floor and additional seating.
The premises are predominantly open plan and consist of a part mezzanine seating area with bar which overlooks the main dance area located on the ground floor, comprising of bar, seating booths and DJ area. An internal door leads to a further self contained bar area with dance floor and additional seating.
PROPERTY FACTS
Sale Type
Investment or Owner Occupier
Property Type
Retail
Tenure
Freehold
Property Subtype
Bar
Property Size
8,011 sq ft
Costar Property Class
B
Year Built
1980
Price
£1,150,000
Price per sq ft
£143.55
Yield
10.87%
NOI
£125,000
Tenancy
Single
Number of Floors
2
Plot ratio
0.31
Total Plot Size
0.60 ac
Frontage
53 ft on High Street
AMENITIES
- 24 Hour Access
- Bus Route
- Commuter Rail
- EPC - D
- Balcony
SPACE AVAILABILITY
- SPACE
- SIZE
- USE
- POSITION
- AVAILABLE
The property is To Let on a new lease for a term to be agreed.
| Space | Size | Space Use | Position | Available |
| Ground | 8,011 sq ft | Retail | In-Line | Now |
Ground
| Size |
| 8,011 sq ft |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
1 of 6
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Ground
| Size | 8,011 sq ft |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
The property is To Let on a new lease for a term to be agreed.
1 1
NEARBY MAJOR RETAILERS
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
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10 High St
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