1 Stocklund House, East Street, Chichester, West Sussex, PO19 1JE

Description

The property occupies a prominent corner position, benefitting from excellent visibility and return frontage. The subject accommodation is situated at ground floor level and is currently configured as a coffee shop. However, the premises is considered suitable for a variety of alternative uses, subject to the necessary consents.

Location

Chichester is an attractive and historic cathedral city, serving as the county town of West Sussex. Strategically positioned along the A27 south coast trunk road, the city benefits from excellent connectivity, lying approximately 15 miles east of Portsmouth and 30 miles west of Brighton. Chichester also offers a direct mainline rail service to London Victoria, enhancing its appeal for both commuters and commercial occupiers.

The subject property is prominently located on the southern side of East Street, one of the city's prime pedestrianised retail thoroughfares. The immediate vicinity features a strong retail line-up, with national occupiers including Hidden Hearing, Coop, New Look, TK Maxx, Flannels, Sports Direct, H&M, and ASK Italian, ensuring consistent footfall and commercial vibrancy.

Planning

A new Use Classes Order (UCO) came into effect on 1st September 2020. Under the new UCO a new Use Class E was introduced to cover commercial, business and service uses. Use Class E encompasses A1, A2, A3, B1 and some D1 and D2 uses under the former UCO. We therefore understand that the premises benefit from Class E 'Commercial Business and Service' use within the Use Classes Order 2020.

VAT

We understand the property is registered for VAT.

Accommodation

The accommodation has the following approximate Net Internal Area (NIA):

Business Rates / Council Tax Band

Rateable Value (2023): 44,000.

Following the Government's latest budget, all occupied retail, hospitality & leisure properties receive a 40% discount from 1st April 2025 until 31st March 2026. Subject to annual cash cap of £110,000 per business and qualifying use.

EPC

We understand the property has an EPC rating of D.

Legal Fees

Each party to bear their own legal costs incurred.

AML

Due to Government legislation, we are legally obliged to undertake Anti-Money Laundering checks on prospective Purchasers / Tenants where a transaction has a capital value of €15,000 (Euro) or more or a rental value of €10,000 (Euro) per calendar month or more. This includes checking proof and source of funds. Please note that we need to obtain the relevant information and record this on file before a transaction can be contracted.