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Church Street, Storrington, West... 2 bed flat for sale
Church Street, Storrington, West Sussex, RH20
£585,000
Church Street, Storrington, West Sussex, RH20
£585,000
Our Summary
- An ideal blend of commercial and residential income with future potential
- ACCOMMODATION * Ground floor retail unit * Separate office * Two well maintained residential flats above - Flat 7A - Two bedroom * One bathroom * Flat 7B - One bedroom * One bathroom *DESCRIPTION Mixed-Use Freehold Investment Opportunity | Village Centre Location | Established Income Stream | Development PotentialAn exceptional opportunity to acquire a versatile and income-generating freehold property, ideally located in the heart of Storrington Village
- The was property was completely renovated circa 2010 and comprises of a ground floor retail unit, a separate office space, and two well-maintained residential flats above, offering an attractive mix of commercial and residential income with scope for future enhancement
- This space is currently self-let at £250 PCM but offers significant scope for redevelopment
- The vendor has previously considered demolishing the office to create additional parking for the residential flats or redeveloping the site for residential or ancillary use (subject to planning permission)
- There remains further scope to add value through potential redevelopment of the office or through future lease restructuring
- This is an ideal opportunity for investors looking for a stable, well-located asset with clear potential for capital and income growth in the years ahead
- DEVELOPMENT POTENTIAL
- Development potential
- MIXED-USE FREEHOLD INVESTMENT OPPORTUNITY
- Mixed use freehold investment opportunity
- Mixed-use freehold investment opportunity
Description
This unique freehold property in Storrington village offers a rare blend of commercial and residential income, with potential for future development. The property comprises a ground floor retail unit, a separate office space, and two well-maintained residential flats above. The retail unit, measuring approximately 718 sq ft, is currently let on commercial terms and benefits from prominent street frontage and good footfall. The office space, measuring approximately 227 sq ft, is self-let at £250 PCM and offers scope for redevelopment. The two residential flats, each with one bathroom, are presented in good order and generate a gross income of approximately £36,890 per annum, with potential for capital and income growth in the years ahead. The property also benefits from an area of land to the rear and an allocated parking space, making it an attractive investment opportunity for those looking for a stable and diversified income stream.