Flint House, 44 South Street, Chichester, West Sussex, PO19

Description

Residential Development and Investment Opportunity

Location

Chichester is an attractive cathedral city, and the county town of West Sussex. It is conveniently located along the A27 south coast trunk road, and lies approximately 15 miles to the east of Portsmouth and 30 miles west of Brighton. A mainline railway service to London reinforces commerce.

The property is situated in a central position close to all amenities. This include high quality restaurants such as the Ivy, an exciting nightlife for Uni students studying at Chichester, and scenic walks through its multiple parks. Chichester is also home to Goodwood's renowned summer festivals, including the Festival of Speed and Revival together with their horse racing which also provides two 18 hole golf courses. Close by is the attractive Chichester Harbour and the excellent opportunities for sailing.

Planning

A new Use Classes Order (UCO) came into effect on 1st September 2020. Under the new UCO a new Use Class E was introduced to cover commercial, business and service uses. Use Class E encompasses A1, A2, A3, B1 and some D1 and D2 uses under the former UCO. We therefore understand that the premises benefit from Class E 'Commercial Business and Service' use within the Use Classes Order 2020. Interested parties should make their own planning enquiries and satisfy themselves in this regard.

Planning consent has been achieved under CC/23/01207/FUL for:

Change of use of bank (Use Class E[c][i]) to residential (Use Class C3) comprising 4 no. new
flats, to include various internal layout alterations, changes to fenestration, and a three storey
extension, ground floor infill extension, fenestration changes and removal of external spiral to
the 1960s linked rear extension.

S106 payments have been paid in full by the seller.


Retailing in Chichester / Brighton

Chichester City Centre is a vibrant and attractive retail centre with a core retail floor space totalling around 700000 sq ft. The retail on offer in Chichester is concentrated within the city walls and is focused along two main shopping axes namely North Street/South Street and East Street/West Street; these intersect at the Market Cross.

The city contains many national multiple retailers including; Marks and Spencer Fat Face Topshop / Topman HandM TK Maxx and River Island. This is accompanied by restaurant occupiers such as The Ivy, Cote, ASK, Brasserie Blanc and Wagamamas.

VAT

We understand that the property is not elected for VAT.

Accommodation

The property is an attractive period Grade II* listed building over three floors with a basement. The attractive facade with three window bays and flint elevations give the property its name. Behind the facade (where the listed nature of the building is focussed) the property had been converted to bank premises and has a 1960's modern extension to the rear.

The property, particularly at the first floor front, has high ceilings and large windows making it a perfect candidate to become a light and breathable living space.

The rear car park can provide up to 10 cars currently but as part of the development comprises infill this reduces down to four spaces plus a garden area.

Whilst the current planning permission allows for conversion to four apartments it would also make a wonderful single dwelling.

The property benefits from planning consent for conversion to four apartments further detail set out below.

Ground Floor Apartment
3 bedrooms with courtyard garden totaling 174 sqm with additional basement of 60 sqm (proposed wine store/cinema room/gym).
First Floor Front Apartment
2 bedrooms with high ceilings and attractive bay window totaling 133 sqm
First Floor Rear Apartment
2 bedrooms with lift access totaling 70 sqm
Second Floor Rear Apartment
2 bedrooms with lift access totaling 70 sqm

The accommodation has an approximate total floor areas Gross Internal Areas (GIA) of 4,812 sqft (447 sqm).

Note: The total Net Internal Area (NIA) is 4,360 sq ft (405 sqm)


Business Rates / Council Tax Band

Rateable Value (2023): £48,000

EPC

Further information available on request.

Legal Fees

Each party to bear their own legal costs incurred.

Terms

We have been instructed to market the property with the benefit of the planning consent and are looking for offers in excess of £1,000,000 for the freehold interest subject to contract.