5 Bed Terraced House For Sale Montague Street, Worthing, BN11
£500,000- Terraced
1 of 1
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Last Updated: 1st May 2024
Description
The premises is a fully let investment with a café/retail unit on the ground floor and a fully let income producing HMO on part ground floor and upper parts of the property. The premises comprises a ground floor, predominantly open plan lock up retail shop with a current rent of £7,200 per annum. The HMO is let to a charity in its entirety and produces an income of £36,000 per annum.
Location
The property is situated near the coastline of West Sussex, on Gratwicke Road in Worthing. It is at the heart of a vibrant and welcoming community. Local shops, cafes and restaurants, as well as multiple independent retailers, surround the area. The premises is located 0.5 miles from the town centre and Worthing mainline train station. The subject property is located in a prominent position off Montague Street.
A location plan and street view can be viewed online through Google Maps by typing in the following postcode: BN11 4BH.
Use/Planning
We understand the property has the use class E of the Town and Country Planning Act 2020, but we advise any potential tenant to liaise with the planning authority. The HMO is licensed and registered.
VAT
VAT will not be chargeable on the terms quoted.
Business Rates
The current Rateable Value provided by the Valuation Office Agency for the retail element is £3,850.
However, since the premise has a rateable value lower than £12,000, occupiers can expect to benefit from 100% rate relief, subject to status: .
Energy Performance Certificate
The EPC for the property is E-54.
Legal Fees
Each party is responsible for their own legal fees.
Viewing Arrangements
Strictly by appointment through sole letting agent, Oakley Property
Agent Details
Oakley Property
3-6 North Road, Brighton, BN1 1YA
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Legal - YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT.
Property Forecaster are working in partnership with Midland Mortgage Bureau Limited. Midland Mortgage Bureau Limited is an appointed representative of The Right Mortgage Ltd, St Johns Court,70 St Johns Close, Knowle, B93 0NH, which is authorised and regulated by the Financial Conduct Authority. Midland Mortgage Bureau Limited financial Services Register number is 756490. The Right Mortgage Ltd Financial Services Register number is 649443.
Property Forecaster are working in partnership with Midland Mortgage Bureau Limited. Midland Mortgage Bureau Limited is an appointed representative of The Right Mortgage Ltd, St Johns Court,70 St Johns Close, Knowle, B93 0NH, which is authorised and regulated by the Financial Conduct Authority. Midland Mortgage Bureau Limited financial Services Register number is 756490. The Right Mortgage Ltd Financial Services Register number is 649443.