17 Elmer Road, Bognor Regis, PO22 6DZ

Description
The property comprises of a deceptive ground floor retail premises with self contained two bedroom flat above. At the rear of the property is a single storey outbuilding currently used for a mixture of retail and storage purposes.

The ground floor currently provides retail accommodation for a longstanding cards and gifts company owned by the freeholders. Comprising of open plan retail accommodation with a mixture of carpeted and laminate flooring, 28ft double glazed window frontage, suspended ceiling with various light fittings and ample electrical points. The property also benefits from CCTV (not tested). The property has a small kitchenette and WC.

To the rear of the retail area is a self contained outbuilding which has currently been split into two parts. The smaller front part has been let on a flexible Licence Agreement to a local barbers who have fitted out the space nicely. At the rear there are various rooms currently being used for storage purposes of the front retail occupiers.

The first floor comprises of a self contained two bedroom flat consisting of lounge, two bedrooms, study and bathroom. The flat presents in reasonable condition throughout.

Location
This substantial commercial and residential property is located on the B2132 Elmer Road in the popular and picturesque village of Middleton-On-Sea in West Sussex. The village, which forms part of Bognor Regis with its population of 25,000 is situated approx 9 miles southeast of the cathedral city of Chichester, 7 miles west of the tourist town of Littlehampton and 15 miles west of the popular seaside town of Worthing. Nearby occupiers include One Stop Convenience Store, Lloyds Pharmacy, Avisford Medical Group, a Public House and a handful of independent retailers and takeaways.

The village has adequate parking facilities via both on road parking and in the free car park opposite the subject property. Bognor Regis railway station is 3.4 miles from the property where regular services along the coast and north to London Victoria (journey time of 1 hour and 50 minutes) are located.

Terms
The property is available freehold with vacant possession of the ground floor retail premises.

The first floor residential flat is let on a standard AST Agreement for a period of 12 months from 4th July 2022 at a passing rent of £720 per calendar month.

Part of the rear outbuilding is let to a local Barbers on an informal licence basis at a rent of £300 per calendar month.

Copies of all agreements can be provided to serious applicants upon request.

Opportunity
The property provides versatile accommodation and therefore there are various ways in which a new owner could proceed.

1) The Retail space has two front entrances and easily could provide two retail spaces for two respective businesses. This could potentially limit the exposure of a new owner in terms of one Tenant at ground floor level.

2) The residential upper parts have been let to the same Tenant for a number of years. It is felt the property is currently underlet and therefore a new owner could look to increase the rent in line with market conditions.

3) The rear outbuilding provides a variety of opportunities to include potential re-development to residential (subject to planning). Other opportunities include conversion to offices, medical centre or other commercial uses, subject to gaining any necessary planning consents.

Business Rates & Council Tax
According to the VOA (Valuation Office Agency) the property has a Rateable value of £9,600. It is therefore felt that an incoming Tenant could be eligible for 100% small business rates relief. Interested parties are asked to contact Arun District Council.

The flat has a Council Tax banding of B

Anti Money Laundering
In accordance with Anti-Money Laundering requirements, two forms of identification will be required from the purchaser or tenant and any beneficial owner together with evidence / proof identifying the source of funds being relied upon to complete the transaction.