Property description & features
LOCATION
Located along London Road, Southend-On-Sea on the junction with North Road/Milton Road.
DESCRIPTION
A mixed commercial/residential freehold investment consisting of a ground floor commercial unit and 13 flats over with planning permission for a further 3 flats split over both second and third floors.
ACCOMMODATION
GROUND FLOOR COMMERCIAL:
Currently let on a term which expires in December 2024 and assigned from Morrisons a rent of £40,369 PA + VAT. The current gross internal floor area 4,073 SQ.FT (378.43 SQ.M) includes 6 x parking spaces to the rear.
FIRST & SECOND FLOORS:
Situated on the first and second floors is a total of 13 flats, 6 x 2 bedroom flats and 7 x 1 bedroom flats and 10 parking spaces all let on AST agreements producing a total income of £112,500 per annum (an opportunity exists to increasing current rental income).
AMENITIES
Local amenities include main bus links and within close proximity to a number of local railway stations.
TERMS
Asking price £2,950,000 are required for our client's freehold interest in these premises.
OUTGOINGS
The rateable value is £34,500 which is chargeable at 49p. in the pound for the rating year to April 2022.
VAT
VAT is chargeable on the rent and Service Charge of the commercial Tenant.
LEGAL COSTS
Each party is to be responsible for their own legal costs.
PARKING NOTES
Parking situated to the rear of the property.
PLANNING
Please see planning reference 20/00611/FUL in relation to the granted planning permission of the 3 flats split over both second and third floors.
VIEWING
By prior appointment with Hair & Son:[use Contact Agent Button] (Option 3).
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*DISCLAIMER
Property reference 101353016340. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Hair & Son - Southend on Sea.
OnTheMarket may have applied supplementary data to this property listing, including:
Broadband availability and predicted speed: obtained from Ofcom on January 13, 2022
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
The data is updated three times a year. The checker results are predictions and should not be regarded as guaranteed. For more information, see: https://checker.ofcom.org.uk/en-gb/about-checker#Answer_0_2
Mobile phone signal availability and predicted strength: obtained from Ofcom on January 13, 2022
Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:
Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
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