118 High St 1,596 SF 100% Leased Retail Building Selsey PO20 0QG $1,816,270 CAD ($1,138.01 CAD/SF) 10.41% Cap Rate

Selsey is a seaside town situated approximately 8 miles to the south of Chichester and 7 miles to the west of Bognor Regis. The town is well connected by road with the B2145 giving direct access to Chichester and the A27 (east/westbound routes). A Google Street View of the High Street can be viewed through Google Maps by typing in the property’s postcode PO20 0QG.
A prominent three-storey building comprising an arcade of 5 shops, plus a large café over the ground floor, 6 self-contained flats over ground, first and second floors, and an adjoining 1-bedroom and 2-bedroom cottage to the rear. Externally, there is a well-maintained, good-sized rear garden, which is currently let to the café for outside seating.
The total combined commercial rents produce an annual income of £30,420. Unit F, which currently serves as an office, is occupied by our client. In our considered view, we believe Unit F would let at a rental figure of £3,750 per annum exclusive.
Areas calculated by the Valuation Office Agency.
The total combined residential rents produce an annual income of £71,100. The flats, with the exception of flat 3, were refurbished in 2022. A photograph library, which was produced following the refurbishment, can be made available via email on request. The two cottages known as 1 & 2 The Yard were constructed in 2013.
Total rental income - £101,520 per annum exclusive.
A breakdown of the property’s passing rents can be made available confidentially to interested buyers, subject to meeting satisfactory ID checks.
Tenure
Freehold interest, subject to the above tenancies and vacant possession of Unit F, Penny Lane Arcade.
Purchase Price
£975,000
VAT
We have been advised that the property has not been elected for VAT and therefore, VAT will not be payable on the purchase price.
Energy Performance Ratings
The property has a range of ratings from Band B to Band E, all are valid and all meet the “Minimum Energy Efficiency Standards” under the current regulations. The arcade falls under a single assessment (Band B). A certificate for the commercial accommodation and each flat can be made available via email on request or alternatively, these can be downloaded online by following this link.
Anti-Money Laundering
In accordance with Anti-Money Laundering requirements, upon an agreement of Heads of Terms, a mandatory Purchaser, Know Your Customer (KYC) documentation request will be made.
Viewing Arrangements
Strictly by appointment through SOLE SELLING AGENTS:
Henry Adams Commercial www.henryadams.co.uk/commercial
A walk-through video tour of the arcade and flat 6 can be made available via WhatsApp on request to the following mobile number 07868 434 449.
Contact
Andrew Algar - Head of Commercial Property
01403 282 519
07868 434 449
andrew.algar@he