The retail unit is currently let to Timpson Limited on a 10 year lease from 1st November 2013, expiring on the 1st November 2023. The passing rent is currently £11,400 per annum. The ground rent received each year from the Head Lease residential part of the building is £5 per annum.
There is now no break provision available prior to the expiration of the lease.
Main retail area: 8m x 4.7m
Ancillary area: 3.3m x 4.1m (This area was formally part of the main retail area and is only separated by a partition wall)
Second ancillary area: 4.4m x 1.5m
Cloakroom with WC and wash basin
The property is located just off the town centre of Bognor Regis, close to the main shopping thoroughfare. The property is also within walking distance of the mainline railway station and the beach.
Guide prices are provided as an indication of the seller’s current minimum acceptable price at auction. They are not necessarily figures that a property will sell for, and may change at any time prior to the auction. The guide price may not be the minimum sale price, which can be higher or lower.
The reserve price is the minimum acceptable price under the hammer, which remains confidential, and may change at any time prior to the auction. Unless otherwise stated, each property will be sold subject to a reserve. The reserve is expected to be set no more than 10% above a fixed figure guide price, or within a guide price range.