A rare opportunity to purchase an impressive and rare Freehold, Grade II Listed, double fronted Georgian property located on Arundel’s historic High Street, which has come to market for the first time in 37 years.
The accommodation is arranged over four floors. The ground floor provides and attractive open plan retail unit with access to a basement level and is currently trading as a bookshop.
The residential accommodation has a private entrance to the
hallway with stairs leading to the basement, door out to the fully enclosed courtyard garden with staircase up to the first floor.
The first floor accommodation comprises sitting room with High Street views, period features such as ceiling rose, dado rails and fireplace. The kitchen/breakfast room has Castle Views, wood fronted units and space for table and chairs, walk in pantry and exposed beams. The second floor has a large master bedroom with fitted wardrobes and an ensuite shower room. There are two further bedrooms and a family bathroom along with a quirky snug area, which makes a great tv lounge or study.
The walled courtyard garden has wonderful views of the castle turrets making an ideal alfresco entertaining area.
Location
The historic and beautiful town of Arundel is built around the famous Norman castle and catholic cathedral and is situated on the edge of the South Downs National Park. Arundel is a popular tourist location visited by thousands of people from the UK and around the world. Arundel is situated approximately 9.5 miles northwest of the popular seaside town of Worthing and 12 miles east of the cathedral city of Chichester. Arundel enjoys good road access via both A27 & A259 trunk roads whilst the mainline railway station with its regular services along the southcoast and north to London is approximately 1 mile from the subject property. Tarrant Street, where this property is situated is accessed off the main High Street and is a charming street filled with independent retailers and eateries at one end with residential houses and flats at the other.
Accommodation
The property has the following approximate floor areas:
Basement Storage - 226 sq ft
Main Retail Area - 474 sq ft
First Floor Kitchen / Dining Room - 142 sq ft
First Floor Lounge - 287 sq ft
Second Floor Bedroom One - 279 sq ft
Second Floor Bedroom Two - 198 sq ft
Second Floor Bedroom Three - 106 sq ft
Second Floor Snug - 123 sq ft
Total Area - 1,835 sq ft
Terms
Oppoprtunity - This is seen as a rare opportunity to acquire a substantial freehold premises in the heart of picturesque and historic Arundel. There is potential for a new owner to break up this opportunity whilst there is also potential for rental growth in future commercial and residential lettings. This opportunity would suit owner occupiers or investors alike, and viewing is therefore highly recommended.
Terms - The property is available freehold, subject to the occupational tenancy on the ground floor and vacant possession of the residential flat.
Guide Price & VAT - £650,000 (Six Hundred & Fifty Thousand Pounds)
VAT is not to be charged on the quoting terms.
Tenancies - The ground floor retail premises is let on a 5 year FR&I Lease from 25th January 2024 outside the provisions of the 1954 Landlord & Tenant Act (Part II) as amended to a private individual at a passing rent of £14,000 Per Annum. There is a mutual break clause and rent review at the 3rd year anniversary date. A full copy of the Lease is available to serious applicants.
Business Rates & Council Tax - According to the VOA (Valuation Office Agency) the ground floor retail premises has a rateable value of £15,250.
We are verbally informed the residential flat has a Council Tax Banding of C.
Legal Costs - Each party to pay their own costs
EPC - D(84)
Specification
- Stunning Double Fronted Georgian Property Situated in Main High Street
- Grade II Listed
- Potential to Produce £36,250 Per Annum
- Superbly Presented Vacant 3 Bedroom Flat Over First & Second Floors
- Filled with Period Features & Walled Rear Courtyard
- No Onward Chain
- Viewing Highly Recommended