PO21 West Lodge, The Esplanade, Bognor Regis

The property was recently constructed and occupies a prominent corner position on The Esplanade and is arranged over five floors.

The upper floors are configured as five self-contained apartments, which have been sold off on long leases.

The restaurant element is accessed via a ground floor lobby entrance, with stairs leading to both the lower ground floor and upper floor.

There is also a customer lift servicing each floor.

Internally, the lower ground floor provides seating for around 30 covers, a bar area, fully fitted kitchen (electric only), preparation areas and storage, together with customer and staff WC's.

The upper floor benefits from panoramic views of the seafront, providing around 80 covers, and serving bar.

There is also further storage and an office.

Externally, the property benefits from a bin store, and plant room, which is accessed from Manor Place.

Bognor Regis is an affluent and popular resort town

Prominent and attractive newly built opportunity with panoramic views within short walk of town centre

Attractions locally include, Butlins, Bognor Regis Pier, and a long pebble beach

Fully fitted restaurant premises finished to high standard throughout and internally there is seating for around 110 covers, together with external seating

Restaurant let on new 20 year FRI lease at a headline rent of £50,000 pax.

Additional income from five flats sold off above producing £600 per annum

Total income £50,600 per annum

EPC rating A

£17 million refurbishment of the Alexandra Theatre and new Premier Inn boosting the attractiveness of this strongly performing seaside town

Freehold investment with Guide Price of £585,000, subject to contract and the existing lease which represents a net initial yield of 8.24% (after graduated purchasers costs of 5.01%) (No VAT)

Bognor Regis is an affluent and popular resort town in West Sussex ideally located on the south coast approximately 55 miles south west of London 24 miles west of Brighton and six miles south east of Chichester.

Bognor Regis Railway Station offers direct and regular services to London Victoria and the South Coast.

The property is situated on the seafront at the edge of the main commercial and retailing centre to the east. It directly overlooks The Esplanade onto the beach and the leisure pier to the front.

Bognor Regis is a well known UK holiday destination situated on a stretch of southern Sussex coastline boasting the largest holiday centre in the south of England: Butlins Bognor Regis.

The town is also home to the University of Chichester's flagship £35 million Tech Campus accommodating the Engineering, Design and Creative Digital Technologies departments.

Nearby, the Alexandra Theatre is undergoing a £17m refurbishment project and there is also a new Premier Inn that has been constructed and is trading.