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1-2 West St 1,475 sq ft Retail Unit Offered at £450,000 in Chichester PO19 1QD
Investment Highlights
- Prominent corner-position in town centre
- Conveniently located along the A27 south coast trunk road and lies approximately 15 miles to the east of Portsmouth and 30 miles west of Brighton
- Multiple retailers nearby including; Marks and Spencer, Sea Salt, Jo Malone, Fat Face, Next, Mint Velvet, Crew, H&M, TK Maxx and Jig Saw
Executive Summary
The retail offering in Chichester is concentrated along the two main shopping axis comprising North Street/South Street and East Street/West Street; these intersect at the Market Cross directly in front of the property. Chichester is an attractive cathedral city, and the county town of West Sussex. It is conveniently located along the A27 south coast trunk road and lies approximately 15 miles to the east of Portsmouth and 30 miles west of Brighton. There is a mainline railway service to London.
1 Unit Available
- Unit
- Unit Size
- Unit Use
- Price
- NOI
| Sale Type | Investment or Owner Occupier | Tenure | Freehold |
| Net Initial Yield | 7.22% |
| Sale Type | Investment or Owner Occupier |
| Net Initial Yield | 7.22% |
| Tenure | Freehold |
Description
This attractive Grade II Listed five storey building occupies a prime position on West Street facing both the Cathedral and The Market Cross within the pedestrian core of the city. There is rear loading and access from Chapel Street.
Sale Notes
The premises are available on a new full repairing and insuring lease for a term to be agreed, or, on a Freehold basis subject to vacant possession.
The property is available on a new lease at £32,500 per annum.
Alternatively, the freehold is available at £450,000 with vacant possession.
The property is available on a new lease at £32,500 per annum.
Alternatively, the freehold is available at £450,000 with vacant possession.
| Unit | Unit Size | Unit Use | Price | NOI |
| Unit 2 | 1,475 sq ft | Retail | £450,000 (£305.08/sq ft) | £32,500 |
Unit 2
| Unit Size |
| 1,475 sq ft |
| Unit Use |
| Retail |
| Price |
| £450,000 (£305.08/sq ft) |
| NOI |
| £32,500 |
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Unit 2
| Unit Size | 1,475 sq ft |
| Unit Use | Retail |
| Price | £450,000 (£305.08/sq ft) |
| NOI | £32,500 |
| Sale Type | Investment or Owner Occupier |
| Net Initial Yield | 7.22% |
| Tenure | Freehold |
| Description | |
| This attractive Grade II Listed five storey building occupies a prime position on West Street facing both the Cathedral and The Market Cross within the pedestrian core of the city. There is rear loading and access from Chapel Street.</li></ul> | |
| Sale Notes | |
| The premises are available on a new full repairing and insuring lease for a term to be agreed, or, on a Freehold basis subject to vacant possession. <br> <br> The property is available on a new lease at £32,500 per annum.<br> <br> Alternatively, the freehold is available at £450,000 with vacant possession.</li></ul> |
Property Facts
The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Property Size | 2,053 sq ft | Floors | 5 |
| Property Type | Retail (Unit) | Typical Floor Size | 411 sq ft |
| Property Subtype | Shopfront | Year Built | 1902 |
| Costar Property Class | B | Total Plot Size | 0.03 ac |
| Total Property Size | 2,053 sq ft |
| Property Type | Retail (Unit) |
| Property Subtype | Shopfront |
| Costar Property Class | B |
| Floors | 5 |
| Typical Floor Size | 411 sq ft |
| Year Built | 1902 |
| Total Plot Size | 0.03 ac |
Amenities
- 24 Hour Access
- Storage Space
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Nearby Major Retailers
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Photos
Street View
Street
Map
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1-2 West St
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