Under Offer
68 South Street,
Chichester,
West Sussex,
PO19 1EE
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Retail, Food and Beverage, Development, Investment
1,382 Sq Ft (128.39 Sq M)
- Chichester is a busy and attractive Cathedral city
- Strong retail centre with limited vacancies and good occupier demand
- Of interest to owner occupiers and investors
- Possibility of converting upper parts to residential subject to the necessary consents
- Guide Price of £300,000 stc
- Freehold interest
- Vacant Possession
- Total Size 1,382 Sq Ft (128.39 Sq M) NIA
- EPC Rating of B
- Nearby occupiers include Trading Post, Moss Bros, Timothy Roe and Jo Malone
Location
Chichester is an attractive cathedral city, and the county town of West Sussex. It is conveniently located along the A27 south coast trunk road, and lies approximately 15 miles to the east of Portsmouth and 30 miles west of Brighton. A mainline railway service to London reinforces commerce.
The subject property is situated within the pedestrianised part of South Street, towards the Northern end of the street and within sight of the central Market Cross. South Street is one of prime retailing streets in the city.
Nearby occupiers include Trading Post, Moss Bros, Timothy Roe, Jo Malone, Timpson and Hoxton Bakehouse.
Description
The property comprises an attractive mid-terrace building, arranged over four storeys, plus basement.
Internally, the premises are arranged as counter, kitchen and dining areas on the ground floor, with further seating areas and a WC on the first floor. The second and third floors comprise ancillary staff, office and storage accommodation, albeit show signs of being used for residential accommodation historically.
There is rear access from Cooper Street which could provide subject to the necessary consents a secondary access to the upper parts allowing separation from the ground floor.
Therefore there may be potential to split the unit into a retail unit on the ground floor and a flat on the 1st, 2nd and 3rd floor, subject to the necessary consents.
Accommodation
We understand the accommodation has an approximate Net Internal Area (NIA) of 128.36 sq m (1,382 sq ft).
Energy Performance Rating
We understand the property has an EPC rating of B (39).
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): £26,000.
The 2nd and 3rd floor have a council tax rating of A.
Interested parties should make their own enquiries to satisfy themselves of their business rates liability.
Terms
We have been instructed to market the property with vacant possession and quote a price of £300,000 for the freehold interest subject to contract.
VAT
Rents and prices are quoted exclusive of, but may be subject to VAT.
Legal Fees
Each party to bear their own legal costs incurred.
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.