Under Offer
3 West Barn,
Norton Lane,
Norton,
Chichester,
West Sussex,
PO20
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Offices, Development, Investment
3,394 Sq Ft (315.3 Sq M)
- Attractive modern high specification office / E Class accommodation, comprising two suites - Total 3,394 sq ft (315 sq m) (including lobby)
- Total income £42,133 per annum
- Close to A27 and Chichester
- Located in scenic semi-rural area
- Good natural light
- Dedicated fibre optic broadband
- On site parking
- Underfloor heating and automatic Velux windows
- Freehold
- Price £545.000, which represents a net initial yield of 7.37% (after graduated purchaser's costs) and an attractive capital value of £160 per sq ft
Location
West Barn is located in Norton which is an attractive village only five miles east of Chichester and benefits from good road links to
the A27 south coast trunk road. Chichester is the County Town of West Sussex and a historic cathedral city located midway between
Southampton and Brighton.
Description
Freehold attractive modern E Class / Office Investment
Accommodation
This high quality accommodation comprises part of a former agricultural building which was subject to complete conversion to provide modern and attractive offices arranged over the ground and first floor.
The available accommodation has the following approximate NIA:
Unit 3 Floor Sq m Sq ft
Lobby Ground 25 sq m 273 sq ft
Suite 1 Ground 134 sq m 1,442 sq ft
Suite 2 First 156 sq m 1,679 sq ft
Total 315 sq m 3,394 sq ft
Twelve parking spaces are allocated with the property.
Planning
A new Use Classes Order (UCO) came into effect on 1st September 2020. Under the new UCO a new Use Class E was introduced to cover commercial, business and service uses. Use Class E encompasses A1, A2, A3, B1 and some D1 and D2 uses under the former UCO. We therefore understand that the premises benefit from Class E 'Commercial Business and Service' use within the Use Classes Order 2020.
Interested parties should make their own planning enquiries and satisfy themselves in this regard.
VAT
VAT is applicable to the purchase price
Legal Fees
Each party to bear their own legal costs incurred.
Terms
Price - £545,000 for the freehold interest subject to contract.
Rateable Value / Council Tax Band
Ground Floor Ratable Value 1 April 2023 to present: £15,750
First Floor - TBC
Energy Performance Rating
We understand the property to have an EPC rating of C(67) - expiry 22.5.2026