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Mixed Parade of 7 Shops, 7 Flats, 6 Garages & Roof Aerial with Planning for 10 Flats, Rustington


£ 4,250,000
1-7 Sterling Parade, The Street, West Sussex, BN16 3DR

Basic Facts

Brochure Link: https://www.prideviewgroup.com/wp-content/uploads/2016/04/Tenancy-Schedule-Rustington.docx Status: Type: Tenure: Freehold
Gross Yield %: 6.27 Gross Rent: £ 266,637 VAT applicable: No

Property Description

  • Freehold, Unbroken, Mixed Parade with Planning Permission to build 10 Flats
  • Detached Parade comprising 6 shops, a large convenience store, 6 maisonettes, 1 flat and 6 garages
  • The six maisonettes are accessed from a walkway on the left hand side of the property
  • The property benefits from a service yard / car park to the rear and 6 garages
  • There is a Roof Aerial in addition which is leased out separately
  • The two floors above the convenience store have planning permission to be redeveloped and extended into 10 flats

Location Description

  • The village of Rustington lies on the south coast and adjoins Littlehampton to the west, with Worthing some 6.5 miles to the east.
  • The property is situated on the south side of The Street in the heart of the village at its junction with Claigmar Road.
  • Occupiers close by include Card Factory, WH Smith, Boots, Greggs, Iceland, Barclays Bank, HSBC, Specsavers, NatWest Bank, Lloyds Bank, Costa Coffee, Holland & Barrett and many other national multiples.
  • The area is well connected by road, with the A259 and A27 providing east/west routes and the A24 is easily accessible to the north-east.
  • The nearby Angmering Rail Station provides regular services to Southampton, Brighton and London Victoria.

Additional Notes

  • The first floor (above Tesco Express) benefits from Permitted Development to convert the vacant office space into 5 flats (2 x 2 bed, 2 x 1 bed and 1 x 3 bed)
  • The 2nd floor (above Tesco Express) benefits from Planning Permission to convert the existing flat and build an additional floor to create a further 5 flats (2 x 1 bed, 2 x 2 bed and 1 x 3 bed)
  • Planning details available on request

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