WORTHING 14-20 SOUTH STREET - Allsop
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FORMER STORE
14-20 SOUTH STREET
WORTHING BN11 3AA
OPPORTUNITY TO ACQUIRE A LANDMARK BUILDING NEAR
THE SEAFRONT WITH DEVELOPMENT POTENTIAL
On the instructions of Victoria Liddell mrics and Tammy Wilkins mrics of Allsop LLP acting as Joint Fixed Charge Receivers
14-20 SOUTH STREET
WORTHING BN11 3AA
INVESTMENT CONSIDERATIONS PROPOSAL
■ Development opportunity to reconfigure former ■ Comprising approximately 44,898 sq ft over ground ■ We are instructed to seek offers in excess of
Debenhams Store, subject to consent and four upper floors £1,350,000 (One Million, Three Hundred and Fifty
■ Situated in the heart of Worthing Town Centre, ■ Site of 0.28 acres (0.11 ha) Thousand Pounds) subject to contract and exclusive
occupying a strong retail location of VAT. This equates to a low capital value of £30 psf.
■ Town centre becoming a focal point for residential/mixed use
■ Benefits from exceptional frontage onto South Street, regeneration
one of the town’s major thoroughfares ■ Strong precedent to convert upper floors to alternative uses,
■ Freehold subject to obtaining the necessary consents
14-20 SOUTH STREET
WORTHING BN11 3AA
M3
M20
M25 LONDON M26
A25
A3
M25
GUILDFORD A26
Dorking Reigate
A31 A21
M23 TUNBRIDGE
A24 Edenbridge LOCATION
GATWICK ROYAL
41 MINS Worthing is an affluent seaside town in West Sussex on the South Coast, approx. 100 km (60 miles)
TUNBRIDGE
East
WELLS south of London. The town benefits from excellent east/west road links via A27, which links Worthing
Crawley Grinstead to Brighton, Hove, Portsmouth and the M27. Worthing also sits at the end of the A24 which runs
A26
north to the M23 and M25, approximately 48 km (29 miles) and 69 km (40 miles) respectively.
A264
Worthing is the largest town in West Sussex, with a population of 97,000 residents, strategically
Balcombe Crowborough located on the south coast, 55 miles south west of London and 10 miles west of Brighton.
Horsham
A22 A229 Direct rail services run from Worthing to London Victoria with a journey time of 80 minutes.
Billingshurst
Rail services also run to Brighton and to Gatwick Airport which is 50 km (30 miles) to the north.
Haywards
Heath
A272
Uckfield
Burgess Hill A21
A24 A23
Hassocks
A22
A283 LEWES ROAD TRAIN AIR
35 MINS Hailsham
A27 1.9 miles Brighton 25 mins London Gatwick 40 mins
A27 A27 Bexhill
A259
Hove A24 2.1 miles Chichester 28 mins Southampton 60 mins
A259 LITTLEHAMPTON WORTHING BRIGHTON
A26
M25 40 miles Portsmouth 50 mins London Heathrow 75 mins
Bognor
Regis Peacehaven EASTBOURNE Central London 60 miles London Bridge 90 mins
Seaford
14-20 SOUTH STREET
WORTHING
BN11 3AA
Worthing
SITUATION
The subject property is located in a a one-way system vehicular road where
central position on the eastern side of there is car parking and storage units to
South Street, close to the junction with the rear of the subject property.
the pedestrianised Montague Street, and The property is located only 0.1 mile
just south of the pedestrianised Warwick to the north of Worthing Pier, with
Street which are the two main retail exceptional seafront views from the
thoroughfares in town, providing constant upper floor levels.
high footfall to the subject property.
Nearby retailers include TK Maxx,
The property backs onto Marine Place, Vodafone, Robert Dyas and WH Smith.
FORMER
STORE
© Crown Copyright, ES 100004106. For identification purposes only.
14-20 SOUTH STREET
WORTHING BN11 3AA
DESCRIPTION
The subject property comprises a purpose-built Internally the property comprises of retail accommodation on ground first, The building benefits from three points of access: one on South Street, and
second and third floors with plant machinery located in the basement and two on Marine Place. It would be possible to use one of the existing points
department store of an Art Deco design, dating the fourth floor. The property benefits from well-configured floorplates of access at Marine Place to carve out self-contained access to the upper
from the late 1920’s and totalling 44,898 sq ft offering good levels of natural light owing to the large number of windows on floors as the access point directly links to the stairs leading upstairs.
(4,171.1 sq m) GIA. The property is of brick and three elevations of the property. A courtyard provides access to the loading area to the rear of the building.
The building can be accessed from both South Street and Marine Place and Internally, staircases access all floors with the addition of a passenger lift
concrete frame construction and arranged over
occupies almost 100% of the site. The property has been recently vacated by serving basement to third floors.
basement, ground and four upper floors. Debenhams and offers an opportunity to repurpose or redevelop the site.
TENANCY
FORMER
Vacant.
STORE
TENURE
Freehold: Title number WSX275560.
SITE AREA
0.28 acres (0.11 ha).
ACCOMMODATION
The property provides the following Gross Internal Area (GIA):
Floor Area Sq M Area Sq Ft
Basement 66.8 719
Ground Floor 1,045.5 11,254
First Floor 1,000.2 10,766
Second Floor 979.5 10,543
Third Floor 887.3 9,551
Fourth Floor 191.8 2,065
Total 4,171.1 44,898
*Allsop have not measured the property and the above floor areas
are from a historic valuation report. Parties are expected to satisfy
themselves as to the accuracy of these measurements.
Rateable Value : £272,500 per annum
Rates Liability: £139,250 per annum
Site outline for identification purposes only.
14-20 SOUTH STREET
WORTHING BN11 3AA
ST
HIGH
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VI C TO R
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ROA
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TOWN
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H A LL
PEL
A S S EM B LY
H A LL
CHA
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E R IA
WORT H ING
M US EUM
PA R K
LIB R A RY
AV E N
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C E B E ACH H OUS E
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UNIO PA R K
D
A2 59
ND RO AD
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HIGH
L AC E
OSE P
AMBR
STRE
ET
A D
H RO
O RT
SA L I S BU
T SW
G RA F TO
CHA
P OR T L A N
DEVELOPMENT POTENTIAL
RY R O A D
GUILDB OUR NE
N RO A
CENT R E
LOCAL POLICY
D RO A D
D
The property is not listed, but does aimed at supporting redevelopment and B R I G H TO
N S T RE E
T A 2 59
C R E S C EN T ROAD
however sit within the South Street alternative uses at upper floor levels in
Conservation Area. order to create a thriving and vibrant B E ACH H OUS E
5 GROUNDS
Town Centre environment.
DENTON
S H E L L E Y RO A D
Identified under the Worthing Core GA R DENS
4
T HE STE YN
Strategy 2011, the site is located within This is supported further by the Local THE
S T E Y NE
the Central Shopping Area – Zone A – Plan which seeks to ‘improve and increase 2
3
E
Primary Designation, an area safe-guarded the mix of uses in the Town Centre’.
1
to preserve and protect A1 units within In addition, as part of their local policy, THE
the Towns primary retail destination.
DOM E
Adur and Worthing Council have CINEM A
7 N E PA
RA DE
Under a revised version of the outlined ambitious plans for residential 6 MARI
Worthing Core Strategy (2020), the provisions with approximately 4,000
Council have implemented policies new units to be delivered by 2026, PAV ILLION
T H E AT R E
within the Primary Shopping Area 1,711 of which are yet to be allocated. E PA RADE
WORTHI N G
P I ER
MARIN
WORTHI N G
LIDO
DEVELOPMENT OPPORTUNITIES RESIDENTIAL POTENTIAL
Located within the heart of Worthing Town Centre, the subject site lends In line with local policy of conserving A1 Additionally, the development would be subject 4 32-36 South Street
space, the site presents the opportunity for a to a CIL payment of £125 per sq m of residential Conversion and 3rd floor extension to create
itself to a number of redevelopment opportunities, subject to obtaining the
mixed retail and residential development under space and a further £150 per sq m of foodstore, 10 residential units with retail at ground floor
necessary consents. In line with local policy, the following options could be
explored; Permitted Development Rights. supermarket or retail warehouse accommodation. 5 40-42 South Street
Indicative studies previously carried out on the There have been several notable developments which Redevelopment of upper floors to provide
1. An Office-led scheme 9 residential units
site highlight the potential viability of a scheme have set the precedent for introducing mixed-use
Conversion of upper floors into office accommodation, through the flexible with retail at ground and basement floors and c. buildings onto South Street which are outlined below: 6 123-125 Montague Street
E use class; 35 residential units to the floors above. 1 SUBJECT PROPERTY Conversion and extension at 1st and
2nd floors to create 4 self-contained
2. Mixed-use scheme Adur and Worthing Council require affordable 2 22-23 South Street residential units
Potential for a truly mixed-use scheme providing retail, flexible commercial housing provisions to be included, which for Conversion and extension of upper floors
a development of 15+ units, would require to create 7 residential units 7 85-87 Montague Street
space, including leisure and office, and residential accommodation; Change of use to ground floor A1 unit
30% affordable housing. This contribution can 3 19-23 South Street
3. Retail and Residential development, potentially be offset however through securing to flexible commercial uses
Redevelopment of the former Beales Department
A mixed-use scheme retaining retail accommodation at street level and Vacant Building Credit. Store to provide a mixed-use scheme with 8 57a Chapel Road
converting upper floors to residential through Permitted Development Rights. For more information please refer to the planning retail and co-working accommodation and Permitted development for change of use
statement in the dataroom. 45 residential apartments of ground floor retail unit to offices
Site outline for identification purposes only.
On the instructions of Victoria Liddell mrics and Tammy Wilkins mrics of Allsop LLP acting as Joint Fixed Charge Receivers
EPC
There is an EPC for the subject property dated 2nd March 2015 – Rating: C 69.
VAT
To Be Confirmed.
ANTI-MONEY-LAUNDERING
A successful bidder will be required to provide information to satisfy the AML requirements when Heads of Terms are agreed.
DATA ROOM
For access to the Allsop data room please use the following link:
https://datarooms.allsop.co.uk/register/worthingdebenhams
PROPOSAL
We are instructed to seek offers in excess of £1,350,000
(One Million, Three Hundred and Fifty Thousand Pounds) subject to
contract and exclusive of VAT. This equates to a low capital value of £30 psf.
For further information or to make arrangements for viewing please contact:
NATIONAL INVESTMENT RESIDENTIAL DEVELOPMENT
Alex Butler Gergo Petrovics Florence Rothwell
07801 219 888 07961 234 029 07595 922 764
alex.butler@allsop.co.uk gergo.petrovics@allsop.co.uk florence.rothwell@allsop.co.uk
allsop.co.uk
Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to
be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties,
undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as
to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary
searches and enquiries. Allsop is the trading name of Allsop LLP. Design CommandD www.commandHQ.co.uk 07.21You can also read
