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Lot 15

Freehold Restaurant & Flat Investment – Gross Yield 9.9%
6 week completion

SITUATION

Located close to the junction with Sea Lane, within this established local shopping centre 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

An end of terraced building comprising a Ground Floor Restaurant with separate rear access via an enclosed front stairwell and communal balcony to a Self-Contained 2 Bed Flat on the first floor.
There is a rear service road leading to off-street parking for 3–4 cars.

VAT is NOT applicable to this Lot

TENURE

Leasehold for a term of 999 years from 1st January 1977 at a peppercorn ground rent PLUS 1/6TH SHARE OF THE FREEHOLD OF THE ENTIRE PARADE (Nos. 1/1a to 6/6a).

*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.

6/6a The Parade, Pagham, West Sussex PO21 4TW