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Lot 21 Withdrawn Prior
Refer

Auction: Wednesday 9th April 2025

19 The Parade, Pagham, West Sussex PO21 4TW

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Lot 21

Retail Investment – Gross Yield 13.1%
6 Week Completion

Situation

Located close to the junction with Sea Lane, near to Co-Op Food and serving the surrounding residential community.
Pagham lies on the outskirts of the exclusive residential area of Aldwick some 3 miles west of Bognor Regis and 5 miles south of Chichester.

Property

Part of a modern development comprising a Ground Floor Shop.

Accommodation

Ground Floor Shop
Gross Frontage 16'4"
Internal Width 16'2"
Shop Depth 24'4"
Built Depth 32'1"
Rear Storage Approx. 85 sq ft
WC


VAT is NOT applicable to this Lot

Tenure

Leasehold for a term of 199 years from 29th September 2008 (thus having approx. 182 years unexpired) at a fixed ground rent of £100 p.a.

Tenancy

The property is let on a full repairing and insuring lease (by way of service charge) to Paolini's Wine Company Limited (with 2 personal guarantors) as a Wine Merchant for a term of 5 years from 1st November 2023 at a current rent of £7,200 per annum exclusive.

Tenant's Break 31st October 2026

Note: There is a £690 Rent Deposit held.

Enquire about this lot:

Photo of Steven Grossman

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

Photo of Jonathan Ross

Jonathan Ross
020 8492 9449
jross@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.