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1-13 South Farm Rd 4,000 SF Retail Condo Unit Offered at $1,753,494 CAD in Worthing BN14 7AB
Investment Highlights
- Excellent connectivity
- Strategic location
- Close proximity to local amenities
Executive Summary
Worthing is a large seaside town, located in the county of West Sussex. It is conveniently located along the A27 south coast trunk road, and lies approximately 15 miles west of Brighton, and 38 miles east of Portsmouth. The property occupies a prominent corner posion on the western side of South Farm Road, at its juncons with Teville Road, Tarring Road and Clion Road. This locaon is a neighbourhood shopping area, with high levels of passing vehicular traffic, about a quarter of a mile to the northwest of Worthing town centre.
Property Facts
| Total Building Size | 15,000 SF | Floors | 3 |
| Property Type | Multifamily (Condo) | Typical Floor Size | 4,171 SF |
| Property Subtype | Apartment | Year Built | 1886 |
| Building Class | C | Lot Size | 0.22 AC |
| Total Building Size | 15,000 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | Apartment |
| Building Class | C |
| Floors | 3 |
| Typical Floor Size | 4,171 SF |
| Year Built | 1886 |
| Lot Size | 0.22 AC |
Amenities
Site Amenities
- Smoke Detector
1 Unit Available
Unit 1-5
| Unit Size | 4,000 SF | Sale Type | Investment |
| Price | $1,753,494 CAD | Tenure | Long Leasehold |
| Price Per SF | $438.37 CAD | Cap Rate | 6.17% |
| Condo Use | Retail | NOI | $108,190.61 CAD |
| Unit Size | 4,000 SF |
| Price | $1,753,494 CAD |
| Price Per SF | $438.37 CAD |
| Condo Use | Retail |
| Sale Type | Investment |
| Tenure | Long Leasehold |
| Cap Rate | 6.17% |
| NOI | $108,190.61 CAD |
Description
The subject accommodaon comprises the ground floor of a substanal, three-storey building. The building is of a tradional construcon, beneath a pitched slate-led road, and incorporates stucco-rendered and painted elevaons above a tradional mber-framed shop front. Internally, the ground floor is configured as a lock-up shop, which is currently occupied as a convenience store by Tesco Express. The configuraon of the ground floor allows the premises to be occupied as a whole, or as three individual units.
Sale Notes
Offers in excess of £950,000 for the long leasehold, which would reflect a NIY of 6.17% (aer purchasers costs of 5.69%).
Rent £62,000 pax from the occupying tenant, with a lease expiring in March 2038.
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1-13 South Farm Rd
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