Summary - 2, TOWER STREET PO19 1QH
1 bed 1 bath Office
Estate-scale investment with development upside and immediate rental income.
Freehold multi‑let business park on 5.12 acres with 105 dedicated parking spaces
Income £459,306 pa; guide price £4,525,000 (9.52% net initial yield)
1.68‑acre paddock included with development potential, subject to planning permission
Vacant Unit 2 at centre; opportunity to refurbish, redevelop or reposition
Diverse tenant mix: laboratory, vets, nursery, restoration workshop, offices
Estate-scale asset with mix of single and two‑storey modern and converted buildings
Average broadband but excellent mobile signal; affluent local catchment and schools
Reported very high local crime — consider security, insurance and tenant risk
This freehold multi-let business park extends to 5.12 acres in a well-connected South East location, producing a headline income of £459,306 pa and reflecting a 9.52% net initial yield at the guide price. The estate includes a mix of single and two-storey office, nursery, laboratory and workshop units with 105 designated car spaces and additional overflow parking — well suited to an investor seeking diversified, estate-scale income.
A clear value driver is the central vacant storage Unit 2 and 1.68 acres of paddock land included within the site. Both areas offer immediate scope to refurbish, reposition or pursue redevelopment (subject to planning) to increase rental income and capital value. There are also routine reversion and lease event opportunities across the park to capture uplifts through rent reviews and regears.
The tenant mix is varied — laboratory, vets, nursery, classic car restoration and offices — which helps spread occupational risk but means some uses are specialist. The park appears generally well maintained with modern courtyard offices and a secure yard warehouse; however, any refurbishment or redevelopment will require planning consent and capital investment to realise uplift.
Practical notes for buyers: the site benefits from excellent mobile reception and good local amenities, but broadband speeds are average. The wider area is described as affluent with strong local schools nearby. Buyers should also factor in the site’s reported very high local crime level when underwriting tenant security, insurance and any prospective capital works.
Office for sale in 42 South Street And 1 Old Market Avenue, Chichester, West Sussex, PO19 1SP, PO19 — £1,650,000 • 1 bed • 1 bath • 8227 ft²
Office for sale in Avenue House, 8-10 Southgate, Chichester, West Sussex, PO19 — £1,750,000 • 1 bed • 1 bath • 6065 ft²
Office for sale in Dukes Court, Bognor Road, Chichester, West Sussex, PO19 — £225,000 • 1 bed • 1 bath • 1438 ft²
Light industrial facility for sale in Plot 5B, Terminus Road, Chichester, West Sussex, PO19 — £1,600,000 • 1 bed • 1 bath • 19742 ft²
Industrial development for sale in Cathedral Business Park, A27 Bognor Road, Chichester, West Sussex, PO19 8NS, PO19 — POA • 1 bed • 1 bath
Warehouse for sale in Units 1-10, Block K, Southern Cross Trading Estate, Shripney Road, Bognor Regis, West Sussex, PO22 9SE, PO22 — £1,775,000 • 1 bed • 1 bath • 19980 ft²
