A rare opportunity has arisen to purchase a commercial and residential unit situated in a bustling high street within the popular seaside town of Bognor Regis. The light and airy commercial unit offers a modern and practical business space and has the added benefit of parking. The two bedroom apartment set over two floors offers spacious accommodation in the heart of Bognor Regis.
The maisonette is accessed from a communal door and stairs leading to the first floor. Once inside, the property is arranged over two floors. As you enter the property there is an entrance hall (with two large store cupboards) which leads to a large modern kitchen and benefits from a breakfast bar. The entrance hall also leads to a cloak room, equipped with a basin and toilet. On the same floor you will find a deceptively large living/dining room with ample space to put lots of furniture. The living/dining room benefits from double aspect windows, flooding the room with natural light. On the second floor of the maisonette you will find two large double bedrooms. Both bedrooms benefit from substantial sized windows and are extremely spacious rooms. The maisonette benefits from a second bathroom, in the form of a large family bathroom. This can be found on the second floor.
The commercial element comprises the ground floor which is accessed from a shared entrance door and internal lobby. As you enter there is a large shop window which looks out onto the busy main road directly opposite a One Stop convenience store. To the rear of the unit is a treatment room, cloakroom fitted with basin and toilet. There is also a door leading to rear access. The site includes the side access road and four car parking spaces which have been let to neighbours.
The shop is let to a private individual on a 20-year lease from 2nd June 2003 at a rent of £6,500per annum. The tenant has expressed interest in taking a new 10-year lease.
The car parking spaces are let on a licence at £100 per month to neighbours. It is stipulated in the licence that it is used only for road worthy vehicles and must not be used as an area to carry out repairs on vehicles parked there
The maisonette is let on an AST at a rent of £783.34 per calendar month but is considered to be worth £1,000 per month/£12,000 per annum.
The current total rental income is £17,1000 per annum with potential to increase to £19,240 per annum subject to the negotiation of new leases.