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Lot 17 Sold: £76,000

Auction: Thursday 27th February 2020

45 Teville Road, Worthing, West Sussex BN11 1UX

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Lot 17   Click here for addendum

Gross Yield 12%
5 week completion

Situation

Located close to the junction with South Farm Road in this retail parade, nearby Tesco Express and amongst a variety of independent traders, only ½ a mile from the town centre and less than 250 yards from Worthing Train Station (National Rail).
Worthing is a popular Seaside Resort and a busy commercial centre lying 9 miles west of Brighton, enjoying excellent road links via the A27.

Property

Forming part of a mid-terrace building comprising a Ground Floor Shop. In addition the property includes a Forecourt for parking.

Accommodation

Ground Floor Shop
Gross Frontage 20'5”
Internal Width 21'9”
Shop & Built Depth 25'11”
WC
Plus Forecourt for parking approx. 2 cars

VAT is applicable to this Lot

Tenure

Leasehold for a term of 999 years from 25th March 2001 at a peppercorn ground rent.

Tenancy

The property is let on a full repairing and insuring lease to G. P. Page as a Polish & African Delicatessen for a term of 5 years from 26th July 2019 (excl. s.24-28 of L & T Act 1954) at a current rent of £7,200 per annum exclusive.

Tenant's Break on every anniversary of the term.

Note: The property may be suitable for conversion to Residential Use, subject to obtaining possession and the necessary consents.

Enquire about this lot:

Photo of Elliott Greene

Elliott Greene
020 8492 9449
egreene@barnettross.co.uk

Photo of Steven Grossman

Steven Grossman
020 8492 9449
sgrossman@barnettross.co.uk

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

  • a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
  • b. A single price figure where the 'Reserve' is not to exceed it.
  • c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
  • d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.