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68 North St

Shop for sale

£1,185,000 3,354 sq ft

Ryden LLP
Contact name

Andy King - Ryden LLP

Full address
68 North St, Chichester PO19 1LP – Chichester
Highlights
  • 5.76% Yield
Property owner
Coral
Property type

Shop for sale

Asking price
£1,185,000
Available space range
There is 1 space available. This measures 3,354 sq ft.
Features
Storage space
Brochure
Download the brochure

Sale details

Sale unit 3748939 Available

3,354 sq ft, £353.31 per sq ft

Unit Sale unit 3748939
Address 68 North St, Chichester, West Sussex, PO19 1LP, GB
Size 3,354 sq ft
Price £1,185,000
Price per unit £353.31 per sq ft
Unit Sale unit 3748939
Address 68 North St, Chichester, West Sussex, PO19 1LP, GB
Size 3,354 sq ft
Price £1,185,000
Price per unit £353.31 per sq ft
Sale type Investment
Tenure Freehold
Net income yield 6.27%
Financial type Actual
Financial year 2018
Net operating income £74,300

Sale notes

  • North street is one of chichester’s two prime retail pitches.
  • Attractive grade ii listed period property with upper parts.
  • Affluent, historic cathedral city and popular retail and tourist destination.
  • Strong trading position within the pedestrianised section of north street.
  • 80% of the income secured against the covenant of coral racing limited.
  • Total income of £78,500 per annum.
  • Low passing rent reflecting £109.50 per sq ft zone a.
  • Freehold.
  • Potential for residential conversion of upper parts subject to planning.
  • Offers in excess of £1,185,000 which reflects an attractive net initial yield of 5.76% after the deduction of usual purchasers costs of 5.69%.

Property description

The property is part of a terraced block of properties fronting North Street situated between Lion Street and Crane Street.

The property is a listed building comprising 3 storeys in a traditional brick construction rendered to the front elevation and incorporating Georgian style sash windows to the front. The property has a pitched roof covered by slates with a small area of flat roof over the rear of the premises. The ground floor comprises a retail unit with a side trades entrance with a café and courtyard to the rear. The first floor accommodation is accessed via a staircase from North Street and comprises 2 large hairdressing salons with ancillary rooms. There are WC facilities on the ground floor for use by staff and customers.

Part of the first floor accommodation, accessed via a staircase to the rear of the property, is also occupied by the ground floor tenant.

The property is located within Chichester City Centre, a historical Cathedral City located on the south coast in West Sussex. Chichester lies some 20 miles east of Portsmouth, 30 miles west of Brighton and 67 miles south of London. The City benefits from excellent road communications with easy access onto the A27 and onto the M27 leading to the national motorway network.

The property is situated within the pedestrianised area half way up North Street with the front of the building facing westwards, virtually opposite the entrance to Crane Street. Fast trains go to both London Waterloo and Victoria.

Building subtype
Storefront
Number of storeys
3
Rentable building area
3,354 sq ft
Year built
1773

Attachments

PDF #1 Marketing brochure/flyer Download

This shop for sale is located in Chichester.

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Disclaimer. Property descriptions, images and related information displayed on this page are based on marketing materials found on the website registered to Ryden LLP. Realla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Ryden LLP for full details and further information.