Retail

4 South Street, Chichester PO19 1EH

 

Quoting Price: £1,930,000 - Initial Yield:6.24%

Acting on behalf of M&G Real Estate we are instructed to market this highly prominent and well secured prime retail investment.

The property occupies a highly prominent prime pitch on South Street, 20 metres from the intersection with East Street, benefitting from significant footfall. Nearby occupiers include Russell & Bromley, Moss Bros, Top Shop and Jigsaw. The property comprises a prime retail unit arranged over ground, basement and first floors, with a total net internal floor area of 3,321 sq ft. Well secured, being let to Blacks Outdoor Retail Limited with JD Sports Fashion Plc (D&B rating of 5A1) as guarantor, for an unexpired term of 2.1 years and at a passing rent of £128,000 per annum (£131 psf ITZA). The first floor benefits from direct access on to South Street, which could suit long term alternative uses, subject to planning.

Offers are sought in excess of £1,930,000 (One Million, Nine Hundred and Thirty Thousand Pounds). A purchase at this price would reflect a net initial yield of 6.24%, assuming purchasers costs of 6.26%.

Contact

Jeff Ellis

Tel: 020 7493 3330
Mob: 07775 582 719
jellis@lewisellis.co.uk

James Elkington

Tel: 020 7493 3330
Mob: 07810722459
jelkington@lewisellis.co.uk

Fred Daeche-Marshall

Tel: 020 7493 3330
Mob: 07785741700
FDMarshall@lewisellis.co.uk


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