LOT 25 - Chichester

Jewsons, Plot 23 Terminus Road, Chichester, West Sussex, PO19 8UJ

Modern Well Located Leasehold Trade Counter Investment

Sold Prior

Key Features
  • Comprising a trade counter unit totalling 1,398.50 sq m (15,053 sq ft) with external yard area on a self-contained site
  • Let to Jewson Limited, a subsidiary of "St Gobain" until 2032 (No Breaks)
  • Site area of 0.63 hectares (1.57 acres), with low site coverage of 22%
  • Established industrial and trade counter location with nearby occupiers including Howdens, West Sussex County Council & a number of Car Dealerships
  • Close to Chichester Gate Leisure Park
  • VAT is applicable
  • AERIAL VIDEO LINK BELOW

Current Gross Rent Reserved
£185,000 p.a.
Current Net Rent Reserved
£176,625 p.a.
Tenure

Leasehold. Held on an Underlease expiring 04.04.2155 (approx. 134 years unexpired) from A A Duncan at a current ground rent of £8,375 per annum reviewable on 24.06.2022 and every 5 years thereafter to 50% of the rent payable under the Headlease.
Please refer to the Rent Review Provisions in the Headlease and the Underlease in the Legal Pack for further information.


Location
  • The City of Chichester is the county town of West Sussex. It is located 30 miles from both Southampton and Brighton and approximately 60 miles south-west of London
  • The city lies adjacent to the A27 which connects with the A24, A3(M) and M27
  • The property is situated 1 mile to the south of the city centre on an established business/industrial park, fronting Terminus Road which runs adjacent to the A27, at its junction with Chandler Road
  • Occupiers close by include Howdens, Lok 'n' store storage, ATS Euromaster, West Sussex County Council and a number of car dealerships including Harwoods Aston Martin/Landrover/Jaguar, Peter Cooper VW, Skoda & Ford
  • Chichester Gate Leisure park is in close proximity with occupiers including McDonalds, Nandos, Dominoes, KFC, Cineworld and Premier Inn amongst others
Additional Information
  • The property comprises a modern purpose built trade counter/warehouse unit with storage/ancillary space together with and an open storage builders yard
  • The unit has an eaves height of 6.5 metres, occupies a site of approximately 0.63 hectares (1.57 acres) and benefits from on-site car parking for approximately 18 cars
  • The unit provides modern trade counter accommodation and was constructed in 2007/2008
Virtual Tour
Click here to view
VAT

VAT is applicable to this lot.

Additional Charges
  • Additional charges and fees might be charged by the seller and/or other third parties. You are strongly advised to read the Special Conditions of Sale for the Lot prior to bidding to check for any additional charges and fees and to check the addendum which might also (but does not always) contain details of such amounts.
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Important notice - Pre-registration approval to bid, guide prices, reserves, additional charges and other matters

Pre-registration approval to bid Allsop now require all bidders who wish to bid at our Auctions to register beforehand. All checks required by current anti-money laundering legislation must be satisfactorily completed as part of this process before prior approval to bid will be given. Please use the links on our website to pre-register. Following approval to bid, the buyer named in your registration cannot be changed without consent (for which a charge might be made). Guide Prices 1. A guide price (to include a range of prices), is not an indication of the anticipated eventual selling price or a valuation; it is an indication of the minimum price ( “the Reserve” ) at which (or range of prices within which) the seller might be prepared to sell. The eventual sale price can and frequently does, exceed the guide price. 2. Where a range is given, the Reserve will sit within that range and will not exceed the top end of the range. Where a single figure Guide Price is given, the Reserve will be within 10%, upwards or downwards, of that figure. 3. The guide price may be subject to change up to and including the day of the auction. The latest published guide price (or range of prices) is displayed on our website and you should check the website regularly for updates and on the day of the auction. 4. All guide prices are quoted "subject to contract". 5. Please note the guide price for the Lot does not include: - any Buyers' Fee charged by the auctioneers; - VAT on the sale price; - SDLT or any other Government taxes; - additional costs and fees charged by the seller or third parties that might apply to some Lots and/or some buyers. 6. If a guide price is listed as "TBA", it means no guide price has been set at present. Please do not call our office about this - the guide price, or range of prices, will be published online immediately it becomes available and you should check the auction website regularly for updates and on the day of the auction. Reserve Prices 7. The reserve price is the minimum price at which the Lot can be sold. 8. Whilst every effort is made to ensure that the advertised guide prices are up-to-date. it is possible that the reserve price set for any Lot may exceed the previously quoted guide price. This is because the seller may fix the final reserve price just before the Lot is offered for sale and you should check the website regularly for updates and on the day of the auction. Buyers' fees, Seller's fees and additional charges 9. For each Lot, a Buyers' Fee is payable on the fall of the hammer to Allsop LLP as follows: Residential Auctions - Lots sold for £10,000 or more: Buyers' Fee of £1,250 inclusive of VAT - Lots sold for less than £10,000: Buyers' Fee of £250 inclusive of VAT Commercial Auctions - All Lots: Buyers Fee £1,000 inclusive of VAT 10. Additional charges and fees might be charged by the seller and/or other third parties . You are strongly advised to read the Special Conditions of Sale for the Lot prior to bidding to check for any additional charges and fees and to check the addendum which might also (but does not always) contain details of such amounts. 11. VAT may be chargeable in addition to the sale price for the Lot. The Lot Particulars and/or the Special Conditions of Sale will indicate whether VAT applies. Other Matters 12. Please note that Lots may be sold or withdrawn at any time prior to auction. 13. Please note that the amount of Bidder Security (payable on application to bid at the auction) and the Buyer's Fee may each be varied from the standard amounts quoted. Please refer to the addendum, the Particulars and/or the conditions of sale. 14. Street trader plans are reproduced with the consent of Experian Goad Limited. Experian Goad Digital Plans include mapping data licensed from Ordnance Survey with the permission of the Controller of Her Majesty's Stationery Office. © Crown Copyright and Experian Copyright. All rights reserved. Licence number PU 100017316. Location plans are reproduced from the Ordnance Survey mapping with the permission of Ordnance Survey on behalf of the Controller of Her Majesty's Stationery Office, © Crown copyright and Database Rights 2018 OS 100060020 15. The plans and photographs shown in the catalogue are included in order to assist you in locating the Lot in question. They are not to be taken as drawn to scale and any arrows on plans or photographs are merely to assist you in finding the Lot, not for the purpose of indicating legal boundaries or which direction the lot is facing. The Auctioneers do not warrant or represent that any plans or photographs show the up to date position with regard to occupiers either for the Lot or for any other properties shown in such plans or photographs.