80 Church Walk

Burgess Hill, West Sussex, RH15 9AS

TOWN CENTRE RETAIL INVESTMENT
FREEHOLD FOR SALE

Status

For Sale

Location

Burgess Hill is located in Mid-Sussex, within easy access of both the A23 and A272. Haywards Heath is approximately 5 miles to the north-east and Brighton 10 miles to the south.

Amenities

  • Suspended ceilings
  • Carpeting
  • Kitchenette
  • WC facilities
  • 2 car parking spaces

Description

The property comprises open plan ground floor retail premises.

Accommodation

The premises have the following approximate net internal floor areas:

Accommodation Size (sq m) Size (sq ft)
Ground floor retail   88.41 951
Kitchenette/staff room  4.60 50
Total  93.01 1,001

Tenure

Freehold, subject to the existing tenancy.

Tenancy

The ground floor is let to C & J Clark International trading as Clarks on a full repairing and insuring 5 year lease from 26th February 2014. The passing rent is currently £18,100 per annum exclusive. The first and second floors comprise flat 80A Church Walk which has been sold off on a 125 year long leasehold from 26th October 2007. The current ground rent payable is £100 per annum exclusive.

Covenant Information

C & J Clark International Limited (Company No. 00141015) detail their principle activities as the retail and manufacture of shoes and have filed the following accounts figures which are publicly available.

  YE 31/01/17 YE 31/01/16 YE 31/01/15
Turnover £885,600 £935,400 £894,700
Pre-tax profits £36,400 £71,300 £100,000

C & J Clark Limited are the ultimate holding company of C & J Clark International Limited.

Description

VAT

VAT is understood not to be chargable on the terms quoted.

Legal Costs

Each party to be responsible for their own legal costs.

Price

Offers are invited in the order of £300,000 The price reflects an attractive net initial yield of 5.87%, when assuming purchaser's costs at 3.30%.

Business Rates

£8,520 per annum (based on rateable value of £17,750). We advise that you contact the Local Rating Authority for confirmation of the actual amount payable.

Energy Performance Rating

This property has been graded as 115 (E)

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