Retail property (high street) for sale
Property description & features
- Tenure: Freehold
- Situated In High Street, Littlehampton
- Nearby Occupiers Include Costa Coffee, Sainsburys, Greggs & Superdrug
- Planning Granted in December 2023 For 2x Retail Units & 8x Residential Flats (4x 1 Bedroom & 4x 2 Bedrooms)
- Available With Full Vacant Possession
- GDV of £1,900,000. ERV of £115,000 Per Annum
- Rare Freehold Opportunity
- Potential To Re-Configure (subject to planning)
A rare opportunity to purchase a substantial ground and first floor retail premises with the benefit of a consented mixed use planning permission in the heart of Littlehampton Town Centre.
The property comprises of a former Bonmarche retail store located over two floors. Currently the property is laid out with ground floor retail accommodation which is largely open plan in nature with internal stairs leading to ancillary storage space, staff welfare facilities and offices. The property would suit another large retailer at ground floor level and the property is presented to the market ready for immediate occupier fit out. The ground floor currently benefits from tiled flooring, ample electrical points, LED lighting and superb (x) ft window frontage.
Planning has been granted to create 2x retail units at ground floor level and a further 3x residential units within the current building envelope. A new build three storey extension would create a further 5x residential units at the rear.
This is seen as an exciting and rare opportunity to purchase the freehold of a substantial commercial property with the added benefit of planning permission within a Town Centre location.
Location
Littlehampton is a popular West Sussex town located on the southcoast between the city of Brighton (23 miles east) and the cathedral city of Chichester (13 miles west). The town, which has a population of approx 20,000, is served by the A259 and A27 roads whilst Littlehampton mainline railway station where services to Brighton (40 minutes), Southampton (1 hour 20 minutes) and London Victoria (1 hour 40 minutes) are located is situated 0.25 miles from the subject property. The property occupies a prominent position within the pedestrianed High Street with nearby occupiers including Greggs, Costa Coffee, Sainsburys and Superdrug.
Terms
The property is available freehold with full vacant possession available upon completion.
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The accommodation comprises the following areas:
Planning
Planning was granted via reference number LU/244/23/PL in December 2023 for the Erection of a three storey new-build development with mansard roof to the rear and mansard roof extension to the existing building to the front (facing High Street), 2 No ground floor Class E commercial and business units, with the change of use of the upper floors to the building to the front to 3 flats comprising 2 No 1-bedroom flats and 1 No 2-bedroom flat and 5 flats to the rear comprising 3 No 2-bedroom flats and 2 No 1 bedroom flats including covered and secure cycle and bin storage and access, and a central, shared landscaped courtyard.
A full copy of the planning decision notice is available upon request.
Basis of Offer
Unconditional offers will only be considered and interested parties are required to provide background evidence of how the purchase will be funded and provide a set timetable for a swift exchange of contracts. The Vendors are not obliged to accept the highest or any offer.
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