14-15 East St
5,652 SF 100% Leased Retail Building Chichester PO19 1HE £2,015,000 (£356.51/SF) 5.71% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Strong retail centre with limited vacancies and good occupier demand
- Planning on going for the conversion of the first and second floors to create two further flats
- 100% prime position on East Street close to the Market Cross
- Chichester is a busy and attractive Cathedral city
EXECUTIVE SUMMARY
The property comprises an attractive and prominent Grade II Listed building arranged over four storeys, plus a basement. The retail unit is configured over the ground floor, basement and part first floor.
The remainder of the part first and the second floors was historically used as a Pilates Studio / office space. The third floor comprises a vacant 2 bedroom flat.
The property has the following approximate NIA:
Ground Floor Sales Area - 1,803 sq ft
Basement - 985 sq ft
First Floor - 309 sq ft
Total NIA - 3,097 sq ft
E Class
First Floor - 1,004 sq ft
Second Floor - 853 sq ft
2 Bedroom Flat
Third Floor - 698 sq ft
Total Size - 5,652 sq ft
The remainder of the part first and the second floors was historically used as a Pilates Studio / office space. The third floor comprises a vacant 2 bedroom flat.
The property has the following approximate NIA:
Ground Floor Sales Area - 1,803 sq ft
Basement - 985 sq ft
First Floor - 309 sq ft
Total NIA - 3,097 sq ft
E Class
First Floor - 1,004 sq ft
Second Floor - 853 sq ft
2 Bedroom Flat
Third Floor - 698 sq ft
Total Size - 5,652 sq ft
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront Retail/Residential
Building Size
5,652 SF
Building Class
B
Year Built
1890
Price
£2,015,000
Price Per SF
£356.51
Net Initial Yield
5.71%
NOI
£115,000
Percent Leased
100%
Tenancy
Multiple
Number of Floors
4
Building FAR
0.59
Lot Size
0.22 AC
Frontage
30 ft on East Street
AMENITIES
- Signage
1 of 1
NEARBY MAJOR RETAILERS
