High demand for commercial property continues
Companies go head-to-head to secure 25,000 sq ft Rustington warehouse
Two companies were recently involved in a competitive battle to secure the new lease on a 25,000 sq ft warehouse and yard premises on the Rustington Trading in West Sussex.
After it failed to attract interest with another agent, our commercial team were instructed by landlords Hargreaves to find suitable commercial tenants for the building on Brookside Avenue. Our fresh marketing campaign and proactive approach meant that two interested parties bid in competition for the property and we achieved over the asking rent and excellent lease terms for the landlord.
The unit proved to be popular with its large secure yard, new roof and clean open span warehouse area. Brookside Avenue is located close to the A27, Angmering railway station and next to the newly built Manor Retail Park which is home to several stores including Tapi Carpets, Next at Home, Chandlers BMW and Aldi.
The high interest in this unit also demonstrates the real shortage of larger quality units we are experiencing in the area.
‘Worthing House’ sold quickly to investors for £1.9m
Worthing House, which is a six storey retail and office building on South Street in the heart of Worthing town centre, has recently been sold for £1.9m to a London based property investment company after the owners opted to sell with a view of seeking new investments. The building was sold very quickly and has a current rental income of £116,000 a year and is part let to bookmakers Ladbrokes and shoe specialist Shuropody. The new owners plan to convert the upper floors to residential use given the sought-after position, excellent sea views and a short walking distance to the seafront.
As well as working with the purchaser on development plans, we continue to support the current office occupiers to help find suitable space for their relocation. Ladbrokes and Shuropody are unaffected and remain under lease on the ground floor.
Our dedicated commercial team have excellent knowledge of the local area and property market. If you are seeking a new opportunity, or if you would like advice on your commercial property, please get in touch with us on 01903 201212.
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Content accurate at time of publishing.