Freehold Property to buy in Littlehampton

Key points

• We are instructed to seek offers in-excess of £5,930,000 (Five Million, Nine Hundred and Thirty Thousand Pounds) subject to contract and exclusive of VAT for our client’s Freehold interest.
• A purchase at this level would reflect an attractive Net Initial Yield of 6.25% and only £170 per sq ft assuming purchase costs at 6.62%
• Littlehampton is the fourth largest town in West Sussex, with a total catchment population of approximately 100,000 people.
• Freehold interest, with an extensive site area of 2.90 acres, benefitting from a low site coverage of 25%.
• Modern, purpose-built retail warehouse scheme across two units, extending to 31,565 sq ft GIA and 156 car parking spaces, reflecting an overall ratio of 1:202 sq ft.
• Affordable, rebased contracted rent of £395,120 per annum, reflecting a low passing £12.41 per sq ft.
• 100% occupied by Wickes and Currys. Both tenants have committed to over 30 years of trading from these stores, since 1995.