16-18 South Road, Haywards Heath, West Sussex, RH16 4LA

16-18 South Road, Haywards Heath, West Sussex, RH16 4LA

• FREEHOLD RETAIL INVESTMENT FOR SALE
• LOCATED IN AFFLUENT SOUTH EAST MARKET TOWN
• LET TO NATIONAL RETAILER ON A NEW LEASE

 Full (PDF) Property Details

Location

Haywards Heath is an affluent commercial centre located in the heart of Sussex. The town benefits from good communications being situated on the A272, giving easy access to the A23 (5 miles), which provides dual carriageway access northwards to the M23 (12 miles), Gatwick Airport (20 miles) the M25 (26 miles) southwards to Brighton (18 miles) and the A27 (14 miles).

The premises is located on the southern end of South Road, which is the main retail thoroughfare in the town.   Nearby multiple retailers including GREGGS BAKERY, CLINTONS, BOOTS CHEMIST and FATFACE.  The Orchard Shopping Centre, which is anchored by M&S is located close by.

Description

The subject property is arranged over ground floor level with the upper parts used for residential. The ground floor premises provides an open plan sales area and part of that has been carved off to provide a storage area.  The shop benefits a glazed frontage with a rear kitchen/store area and W.C facilities.  There is a rear yard area, which is used to house a freezer.

We have measured the property to have the following approximate net internal floor areas:

Tenancy

The ground floor shop is let to Cook Trading Limited on a reversionary 10 year lease from 2^nd September 2023 at a passing rent of £29,000 per annum and is subject to 5 yearly upward only rent reviews.  There is a tenant only option to break the lease on the 1^st September 2028.  The lease is held on an effectively fully repairing and insuring basis, with the landlord recovering common expenditure on the building via a service charge.

The first and second floor has been sold off on a long leasehold interest of 150 years from 11^th January 2010 on a FR & I lease and expires in 2160.  The current rent is a “peppercorn”.