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FOR SALE

40 North Street & The Orangery,
Chichester,
West Sussex

Retail and Leisure, Offices, Investment

8376 Sq Ft (778.13 Sq M)

Features

  • Income producing opportunity suitable for an investor or owner occupier
  • Let to Handelsbanken and Jack Wills
  • Vacant possession deliverable on the Jack Wills space (Main House) at 3 months notice
  • Grade II* Listed Building totalling 8,376 sqft (778.15 sqm)
  • Planning consent exists for change of use from retail to offices
  • Property suitable for alternative uses (subject to planning)
  • Handelsbanken producing £35,000 pa until May 2027 (break option in 2022)
  • Jack Wills producing concessionary turnover rent estimated at £25,000 pa documented rent £124,154 pa)
  • Highly reversionary investment with potential to produce £140,000 pax
  • Freehold. Price £1.6m subject to contract

Location

40 North Street and The Orangery occupies a prominent city centre business
location on one of Chichester's four main retailing streets. The property is only
a short 10 minute walk from the rail and bus stations, providing connectivity
across the south coast and main-lines to London.

Major employers within the city centre include West Sussex County Council,
Chichester District Council, John Wiley & Sons and Mercer Ltd.

Nearby aspirational retailers include L'Occitane En Provence, The White Company and Russell & Bromley. Nearby restaurateurs boast national chains such as Bill's, Wagamama, Côte Brasserie alongside local operators, Purchases Restaurant and Field & Fork.

Description

Freehold Opportunity for Investment or Occupation
Listed Building in City Centre
Total Size 8,376 sq ft (778.15 sq m)

Accommodation

The property is a well-known landmark building. It is configured as two selfcontained units, comprising the Main House (occupied by Jack Wills) and The Orangery, being a period extension to the south with a modern addition (occupied by Handelsbanken).
The Main House is arranged over three floors plus basement, and the remainder over two floors plus the single storey modern rear extension.

Total Net Internal Area of whole = 8,376 sq ft (778.15 sq m).

Planning

The building is Grade II* listed.

The Orangery
We understand that the premises benefit from Class A2 (Financial Services) use
within the Use Classes Order 1987 (as amended).

40 North Street
We understand that the premises benefit from Class A1(Retail) use within the
Use Classes Order 1987 (as amended).

Planning permission exists for change of use to B1 offices. Reference
No:19/02000/FUL and No: 19/02001/LBC.

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.

Terms

Price £1.6m subject to contract.

Energy Performance Rating

We understand the property has the following EPC ratings:

The Orangery - C 56
40 North Street - D 82

Viewing

For further information or to arrange a viewing, please contact Flude Commercial on 01243 819000 or via email to chichester@flude.com.

Key Contacts

Contact Photo

Mark Minchell

01243 929136