JD Sports & Specsavers, Worthing

Property Description

• Freehold blue-chip retail investment
• The property offers regularly configured sales accommodation at ground and first floor level. Each unit benefits from ancillary accommodation at first and second floor level.
• In total the property provides 9,319 sq ft of accommodation (NIA).
• The property benefits from a right of way over the service yard at the rear of the property.

Location Description

• Worthing is one of the UK ‘s most affluent coastal towns, and the largest retail centre in West Sussex.
• Worthing is a large seaside town 10 miles west of Brighton, and at the heart of the Brighton/Worthing/Littlehampton conurbation which is the 12th most populous urban area in the UK.
• The property is prominently situated in the heart of Montague Street, Worthing’s prime pedestrianised retail area.

Tenancy & Additional Information

• Unit 1 let to Specsavers Optical Superstores Ltd for 5 years from 25th February 2021 at a passing rent of £75,000.
• Unit 2 let to JD Sports Fashion plc for 10 years from 18th May 2013 at a passing rent of £90,000.  Tenant did not exercise their 2018 break option.
• Development potential of the property’s extensive upper parts, subject to planning and tenant negotiations. Prime town centre residential values in Worthing are in excess of £500 per sq ft.

Tenancy & Accommodation Schedule