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14-15 East St 3,097 sq ft 100% Let Retail Property Chichester PO19 1HE £1,435,000 (£463.35/sq ft) 8.01% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Strong retail centre with limited vacancies and good occupier demand
- Planning on going for the conversion of the first and second floors to create two further flats
- 100% prime position on East Street close to the Market Cross
- Chichester is a busy and attractive Cathedral city
EXECUTIVE SUMMARY
The property comprises an attractive and prominent Grade II Listed building arranged over four storeys, plus a basement. The retail unit is configured over the ground floor, basement and part first floor.
We have been instructed to market the freehold interest at a Guide Price of £1,435,000, which reflects a NIY of 7.5% after usual purchasers costs of 6.80%.
We have been instructed to market the freehold interest at a Guide Price of £1,435,000, which reflects a NIY of 7.5% after usual purchasers costs of 6.80%.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Shopfront Retail / Residential
Property Size
3,097 sq ft
Costar Property Class
B
Year Built
1890
Price
£1,435,000
Price per sq ft
£463.35
Yield
8.01%
NOI
£115,000
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
4
Plot ratio
0.32
Total Plot Size
0.22 ac
Frontage
30 ft on East Street
AMENITIES
- Signage
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NEARBY MAJOR RETAILERS
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14-15 East St
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