Chichester city centre property sells for £1.5 million
A commercial property in Chichester city centre has been sold for £1.5 million, marking its first sale in 60 years.
The building, at 42 South Street and 1 Old Market Avenue, includes a mix of restaurant, office and leisure businesses.
Extending to around 8,227 sq ft, the property is fully let to tenants, providing rental income for its new owner.
The freehold property was sold by Flude Property Consultants, with Mark Minchell handling the deal on behalf of the previous owner. The buyer is a private property company based on the South Coast.
Mr Minchell said the building was originally constructed by the previous owner’s family for their own business and included a flat for the owner on the top floor.
That space later became Flude’s Chichester office.
He said: “This represents the first sale of the property in its 60-year history since construction.
“The property is now fully let to a diverse mix of restaurant, office and leisure occupiers, providing the new owner with a well-balanced range of tenant types and a strong addition to their investment portfolio.”