Summary - 1, OLD MARKET AVENUE PO19 1SP
1 bed 1 bath Office
Income producing freehold with terrace and short‑term rental upside.
Fully let multi‑storey freehold with 8,227 sq ft NIA
Total passing rent £141,477 pax; room for reversion at expiry
WAULT of six years to lease expiries
Third‑floor terrace with cathedral and town views
Ground floor restaurant benefits from strong street frontage
Refurbished throughout; lift, AC, LED lighting, good natural light
One EPC C (can be upgraded to B); part rated B
Located in area recorded as very high crime — insurance implications
A prominently located mixed‑use freehold in central Chichester, offered as a multi‑let E Class investment with a WAULT of six years. The building is fully let to a restaurant, two office occupiers and a yoga studio, delivering immediate income of £141,477 pax and scope for rental reversion on lease expiries.
The property has been comprehensively refurbished: modern finishes, air conditioning, suspended ceilings with integrated LED lighting, lift access and strong natural light throughout. The third floor includes a substantial terrace overlooking the cathedral, creating a rare town‑centre amenity that supports premium positioning for office or leisure uses.
Energy performance is B for part of the building, with the other part rated C but capable of upgrading to B. The freehold sale at £1,650,000 reflects an 8.08% net initial yield (after usual purchasers’ costs), offering an investor entry to a busy retail and leisure pitch with close public car parks, bus and rail links.
Buyers should note material considerations: the building sits in an area recorded as having very high crime, which could affect insurance and occupational perceptions. One unit was formerly residential; internal layouts vary and further tenant roll‑out or refurbishment may be required at lease expiries. Overall this is a well‑presented, income‑producing town‑centre asset with short‑to‑medium term upside at reversion.
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