3 Elm Grove

Horsham, West Sussex, RH13 5HX

Under offer

MIXED RETAIL & RESIDENTIAL
FREEHOLD INVESTMENT FOR SALE

Status

For Sale

Location

The property is located on Elm Grove, in a predominantly residential area of Horsham, within easy access of the A281.

Both Horsham's town centre and Horsham mainline railway station are conveniently located close by, both being approximately a 15-minute walk.

Description

The property comprises a ground floor retail premises which continues to trade as a long established butchers with forecourt parking, understood to have originally been two separate retail units which have now been amalgamated, whilst the rear garden and associated stores are allocated for ground floor use only.

The first floor is configured as two self-contained 1-bedroom flats (3A and 3B) which are accessed to either side of the building and it is understood that only Flat 3B benefits from a single parking space within the front forecourt.

Accommodation

The premises have the following approximate net internal floor areas:

Accommodation Size (sq m) Size (sq ft)
Ground Floor (NIA)    
Retail and Internal Storage 68.36 736
External storage 25.75 277
First Floor (GIA)    
Flat 3A 42.76 460
Flat 3B 42.76 460
Total 179.63 1,933

The property comprises a total site area of approximately 0.107 acres (0.431 hectares)

Tenure

The property is available by way of a sale of the freehold interest, subject to the existing tenancies.

Tenancies

Ground Floor - let to two private individuals, trading as L M Clapham Butchers, on an effectively full repairing and insuring 15-year lease from 3 April 2009 at a passing rent of £20,800 per annum exclusive. The lease is subject to an upward only rent reviews every third anniversary of the lease term.

First Floor - Flat 3A is let on an Assured Shorthold Tenancy at the current rent of £675 per calendar month (£8,100 per annum exclusive) to a private individual.

First Floor - Flat 3B is let on an Assured Shorthold Tenancy at the current rent of £695 per calendar month (£8,340 per annum exclusive) to a private individual.

Total passing rent is currently £37,240 per annum exclusive.

VAT

VAT is not applicable on the terms quoted.

Legal Costs 

Each party to be responsible for their own legal costs. 

Price

Offers in excess of £500,000

Energy Performance Rating

This property has been graded as C (75)

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