Two detached contemporary-style properties of part-tile hung/part cement rendered elevations beneath a flat roof. Havant House is arranged over three floors as four self-contained flats, all sold on long leases with two commercial units on the ground floor producing 20,000 per annum in total. Dems House is arranged over two floors as four self-contained commercial units with the two ground floor units producing 18,000 per annum in total with the two first floor units vacant but being marketed at present with a combined potential rental of 20,900 per annum. There is potential to convert the two vacant commercial units to residential, including the possibility of an additional floor on both of the properties, subject to all necessary consents being obtainable. It is also considered that there is the potential for rental growth on the existing shops. The units are approached via a shared driveway and there are 10 parking spaces shared between the commercial and residential elements.
In the town centre of Storrington, the properties adjoin the main car park with multiples such as Waitrose, Boots and Costa represented and other independent and national retailers in close proximity, please see www.storrington.org.uk for more information. There are excellent road links to Worthing, Horsham and all surrounding areas via the nearby A24/A27.
Havant House - Ground Floor Retail Unit T/A Marakesh Spice Tenancy Let on a 20-year repairing and insuring lease from 25th December 2009 with five yearly rent reviews at a passing rental of 12,000 per annum.
Retail Unit T/A Storrington Fish Company Tenancy Let on 15-year lease, from 6th December 2010, at a passing rental of 8,000 per annum.
Residential Tenure Four flats occupying the first and second floors, each sold on a long lease at a combined ground rental of 500 per annum.
Dems House - Ground Floor Retail Unit Trading As Bits & PCs Tenancy Let on a 20-year lease, from 29th September 2019, with five yearly rent reviews at a passing rent of 8,000 per annum.
Retail Unit T/A Flower Wise - Ground Floor Tenancy Let on a 20-year lease from 29th September 2019 at a passing rent of 10,000 per annum.
Unit 3 First Floor Open plan retail unit with kitchen and W.C.
Tenancy Vacant. Currently marketed at a rental of 9,500 per annum.
Unit 4 First Floor Open plan retail unit with smaller rooms, kitchen and separate W.C.
Tenancy We understand the unit is in the process of being let for a term of 10 years with a five-year review/break clause with a rental of 11,400 per annum. Further information will be provided within the legal pack. Consent has been granted for units 3 & 4 for Class E use.
Outside Ten parking spaces to the rear of the properties divided between the commercial and residential units and accessed by a shared driveway.
Site Measurements The entire site extends to approx. 0.095 hectares (0.23 acres).
Freehold with Part Vacant Possession
Residential EPC: C
Commercial EPC: B
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 the 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 www.cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.
*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 www.cliveemson.co.uk/buyers-fees/
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