Under Offer
Unit 4 The Buttermarket,
North Street,
Chichester,
West Sussex,
PO19
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Retail and Leisure
2,313 Sq Ft (214.88 Sq M)
- Chichester is an affluent and thriving retail centre
- Located on the prime pedestrian pitch
- Open plan sales area
- Class E encompasses A1, A2, A3, B1 and some D1 and D2 uses
- To let on new EFRI lease
- Rent £42,500 pax
- Situated in an attractive historic building
- Nearby occupiers include Bills, M & S, Robert Dyas, O2, Paperchase, The White Company and Boots
Location
Chichester is located approximately 65 miles south west of London 15 miles east of Portsmouth and 30 miles west of Brighton.
The property is situated on the eastern side of North Street, which is fully pedestrianised. Nearby occupiers include Bills, Robert Dyas, O2, Paperchase, The White Company, Boots and M & S.
Description
Well Presented Retail Unit
Total Size 214.88 sq m (2,313 sq ft)
Accommodation
The shop is situated with the Buttermarket, formerly known as Market House was built in 1808 for market traders who had been trading at the Market Cross. In 1980 it was extended to include an upper floor, which is currently occupied by Bills. The building is noted for its special architectural and historic interest and was refurbished in 2011 to provide the current layout.
The accomodation includes a kitchen area, WC and storage and has recently acquired planning to improve the layout and increase the size. Please see floor plan.
The property has the following approximate Net Internal Area (NIA) of 214.88 sq m (2,313 sq ft).
Planning
We understand that the premises benefit from Class E use within the Use Classes Order 2020 (as amended).
The Buttermarket is a Grade II* Listed Building.
VAT
We understand the property is registered for VAT.
Legal Fees
Each party to bear their own legal costs incurred.
Terms
The property is available to let by way of a new (effectively) full repairing and insuring lease for a term to be agreed at a commencing rent of £42,500 per annum exclusive.
There is service charge payable currently of £10,560 per annum.
Rateable Value / Council Tax Band
Rateable Value (2017): £40,000.
Rateable Value (April 2023): £30,000.
Currently, all occupied retail, hospitality & leisure properties receive a discount of 50% on rates payable until 31st March 2023. Following the Government's latest budget, it has been confirmed that there will be a 75% discount from 1st April 2023 until 31st March 2024. Subject to annual cash cap of £110,000 per business and qualifying use.
Should you require further information on Business Rates, please contact our in house rating surveyor Daniel Green (d.green@flude.com).
Energy Performance Rating
We understand the property has an EPC rating of C (71).