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14-15 East St 3,097 SF 100% Leased Retail Building Chichester PO19 1HE $1,915,274 ($618.43/SF) 8.01% Cap Rate
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.
We have been instructed to market the freehold interest at a Guide Price of £1,435,000, which reflects a NIY of 7.5% after usual purchasers costs of 6.80%.
We have been instructed to market the freehold interest at a Guide Price of £1,435,000, which reflects a NIY of 7.5% after usual purchasers costs of 6.80%.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront Retail/Residential
Building Size
3,097 SF
Building Class
B
Year Built
1890
Price
$1,915,274
Price Per SF
$618.43
Cap Rate
8.01%
NOI
$153,489
Percent Leased
100%
Tenancy
Multiple
Building Height
4 Stories
Building FAR
0.32
Lot Size
0.22 AC
Frontage
30’ on East Street
AMENITIES
- Signage
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NEARBY MAJOR RETAILERS
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14-15 East St
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