Under Offer
19 London Road,
Bognor Regis,
West Sussex
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Retail, Food and Beverage, Investment, Leisure (Class D1, D2 and Other)
902 - 1,652 Sq Ft (83.8 - 153.47 Sq M)
- Bognor Regis is an affluent and popular resort town in West Sussex
- London Road is a diverse commercial high street
- Open plan retail unit
- First Floor: 749 sq ft
- Area to the rear for parking and loading
- Rent £30,000 pax
- New FRI lease available
- Alternatively, the freehold interest is available with vacant possession
- Guide price £325,000 stc
- Occupiers on London Road include Holland & Barrett, Greggs, Superdrug, Robert Dyas, Costa and Sports Direct
Location
Bognor Regis is an affluent and popular resort town in West Sussex, ideally located on the south coast approximately 55 miles south west of London, 24 miles west of Brighton and six miles south east of Chichester.
London Road serves as one of Bognor Regis' principal commercial thoroughfares, benefitting as a fully pedestrianised high street in the town's central shopping district. The street is characterised by a range of national and independent occupiers including Holland & Barrett, Greggs, Superdrug, Robert Dyas and Costa.
Description
The premises comprise of a self-contained retail unit arranged over two floors. Internally, the ground floor provides open plan sales area, together with storage and staff facilities on the first floor.
Externally, there is a small store and rear access. There are three parking spaces to the rear which can be utilised for loading.
Accommodation
The accommodation has the following approximate Net Internal Area (NIA):
| Description | Sq Ft | Sq M |
|---|---|---|
| Sales Area | 902 | 83.8 |
| First Floor | 749 | 69.58 |
| Total | 1,651 | 153.38 |
Energy Performance Rating
We understand the property has an EPC rating of D.
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.
Taxation
Rateable Value (2023): £22,250
Following the Government's latest budget, all occupied retail, hospitality and leisure properties receive a 40% discount from 1st April 2025 until 31st March 2026. Subject to annual cash cap of £110,000 per business and qualifying use.
Terms
The property is available to let by way of a new full repairing and insuring lease for a term to be agreed at a commencing rent of £30,000 per annum exclusive.
Alternatively, there is also the option to purchase the freehold interest and have been instructed to market the property with vacant possession at a guide price of £325,000, subject to contract.
VAT
We understand that the property is not elected for VAT.
Legal Fees
Each party to bear their own legal costs incurred.
Anti-Money Laundering Regulations 2017
In accordance with current Government legislation, we are legally required to conduct Anti-Money Laundering (AML) checks on all prospective purchasers or tenants where the transaction involves a capital value of €15,000 (EUR) or more, or a rental value of €10,000 (EUR) per calendar month or greater.
This process includes verifying identity, as well as confirming the source and availability of funds. Please note that we must obtain and record this information before any transaction can be formalised or contracts exchanged.
Flude Property Consultants for themselves and for the vendors or lessors of this property whose agents they are give notice that: i) these particulars are set out in good faith and are believed to be correct but their accuracy cannot be guaranteed and they do not form any part of any contract; ii) no person in the employment of Flude Property Consultants has any authority to make or give any representation or warranty whatsoever in relation to this property.
Please note that whilst we endeavour to confirm the prevailing approved planning use for properties we market, we can offer no guarantees in this regard. Planning information is stated to the best of our knowledge. Interested parties are advised to make their own enquiries to satisfy themselves in respect of planning issues.
We advise interested parties to make their own enquiries to the local authority to verify the above and the level of business rates payable in view of possible transitional arrangements and any reliefs.