113-115 Montague Street, Worthing

An opportunity to purchase the freehold interest of a pair of two storey mid-terrace properties situated along the popular pedestrianised Montague Street, the property is offered for sale subject to the occupational tenancies noted within these marketing details.

Shop 113 comprises of a ground floor takeaway premises with front sales and seating area with rear commercial kitchen with internal stairs leading to first floor ancillary storage and staff facilities. Shop 115 Montague Street comprises of a ground floor convenience store with front sales area with rear storeroom with WC. The property has rear pedestrian access.

Shop 113 - 15 years from 14/12/21, break on 14/12/26 current rental £17,000pa
Shop 115 - 15 years from 14/12/21, break on 14/12/26 current rental £20,000pa

Combined rental income of £37,000 per annum exclusive.

Location
The property is situated towards the western end of Montague Street close to the junction with Crescent Road. Other occupiers within the immediate vicinity include The Body Shop, Greggs, Card Factory, The Works and a number of independent & national retailers, restaurants and cafes.

Viewings
Viewings can be arranged via the Vendors sole Agents - Newlands Property.

Terms
Offers are invited in the region of £474,950 for the freehold interest, subject to the occupational leases in place. A purchase at this level would reflect a net initial yield of 7.45% allowing for purchasers costs.

Available Area