Property for sale
Property description & features
- Tenure: Freehold
- Investment
- Freehold
A mixed investment opportunity comprising 2 shops let on commercial leases producing £26,000pa, & four 1 bedroom flats above producing a ground rent of £1,360a pa, & therefore a yield of 7% on the asking price.
Rooms
Property
All measurements are approximate & have been measured on a gross internal basis:
24 Southchurch Road (Retail Shop): 511 Sq.Ft.
26 Southchurch Road (Take Away/Restaurant) 990 Sq.Ft.
Both have rear parking with vehicular access.
Features
Mixed Investment Opportunity
Comprising 2 Shops & 4 Flats
Adjacent City Centre
Rent Roll £27,360PA
Yield Of 7% On Asking Price
Walking Distance Of Both Stations
Tenure
Freehold, subject to the tenancies referred to.
Tenancy Schedule
24 Southchurch Road: 5 year lease from 13th August 2018. Rent £8,000pa.
26 Southchurch Road: 20 year lease from 28th June 2013. Rent £18,000pa with 5 yearly rent reviews, the next in June 2023.
Flat numbers 1, 2 & 4 were sold on long leases from 5th October 2007 for 125 years, each producing a ground rent of £340pa. The lease in respect of flat 3 was granted for 99 years from 1st July 2004 with a ground rent of £340pa.
Legal Fees
Each party is to be responsible for their own legal fees.
Property information from this agent
Places of interest
See more properties like this:
*DISCLAIMER
Property reference DBS220120. 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 Dedman Gray - Commercial.
OnTheMarket may have applied supplementary data to this property listing, including:
Broadband availability and predicted speed
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
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
Any supplementary data should not be relied upon as forming part of any property particulars and OnTheMarket cannot be held responsible for any incorrectness in this data. See here for more information.