Key Details

Property Description

PAID ANNUALLY; 20,000

Development and Investment Opportunity

Chichester is an attractive cathedral city, and the county town of West Sussex. It is conveniently located along the A27 south coast trunk road, and lies approximately 15 miles to the east of Portsmouth and 30 miles west of Brighton. A mainline railway service to London reinforces commerce. The property is situated in a central position close to all amenities. This include high quality restaurants such as the Ivy, an exciting nightlife for Uni students studying at Chichester, and scenic walks through its multiple parks. Chichester is also home to Goodwood's renowned summer festivals, including the Festival of Speed and Revival together with their horse racing which also provides two 18 hole golf courses. Close by is the attractive Chichester Harbour and the excellent opportunities for sailing.



A new Use Classes Order (UCO) came into effect on 1st September 2020. Under the new UCO a new Use Class E was introduced to cover commercial, business and service uses. Use Class E encompasses A1, A2, A3, B1 and some D1 and D2 uses under the former UCO. We therefore understand that the premises benefit from Class E 'Commercial Business and Service' use within the Use Classes Order 2020. Interested parties should make their own planning enquiries and satisfy themselves in this regard. Planning consent has been achieved under CC/23/01207/FUL for: Change of use of bank (Use Class E[c][i]) to residential (Use Class C3) comprising 4 no. new flats, to include various internal layout alterations, changes to fenestration, and a three storey extension, ground floor infill extension, fenestration changes and removal of external spiral to the 1960s linked rear extension.



We understand that the property is not elected for VAT.

The property is an attractive period Grade II* listed building over three floors with a basement. The attractive facade with three window bays and flint elevations give the property its name. Behind the facade (where the listed nature of the building is focussed) the property had been converted to bank premises and has a 1960's modern extension to the rear. The property, particularly at the first floor front, has high ceilings and large windows making it a perfect candidate to become a light and breathable living space. The rear car park can provide up to 10 cars currently but as part of the development comprises infill this reduces down to four spaces plus a garden area. Whilst the current planning permission allows for conversion to four apartments it would also make a wonderful single dwelling, or could be retained to provide excellent E Class premises either as a single occupation or let in its individual parts. The property benefits from planning consent for conversion to four apartments further detail set out below. Ground Floor Apartment 3 bedrooms with courtyard garden totaling 174 sq m with additional basement of 60 sqm (proposed wine store/cinema room/gym) First Floor Front Apartment 2 bedrooms with high ceilings and attractive bay window totaling 133 sq m First Floor Rear Apartment 2 bedrooms with lift access totaling 70 sq m Second Floor Rear Apartment 2 bedrooms with lift access totaling 70 sq m The accommodation has an approximate total floor areas Gross Internal Areas (GIA) of 4,812 sq ft (447 sq m)

Rateable Value (2023): £48,000

Further information available on request.

Each party to bear their own legal costs incurred.

• Location