Property for sale
Property description & features
- Tenure: Freehold
- Investment
- Freehold
The freehold of the building comprising Grd & 1st Floor offices along with a vacant Café held together under a single lease of the commercial premises which will be included in the sale, plus eight upper floors containing 52 residential apartments which have been sold on long leases. To the rear of the building there is a moderately sized car park which is used by the residents and commercial occupiers.
The property is located on the west side of Victoria Avenue, a short distance from its junction with Victoria Circus and the London Road (A13) and close to Southend City Centre. Mainline train services are available at Southend Victoria (to London Liverpool Street) and Southend Central (London Fenchurch Street).
Rooms
Accommodation
We have not had an opportunity to undertake a full measured survey but understand that the commercial areas are arranged to provide the following Net Internal (NIA Areas):
Grd Floor
Café (Vacant) 829 sq ft 77 sq ms
Offices (Let to NHS) 4,300 sq ft 399 sq ms
Office (Vacant) 619 sq ft 57 sq ms
Storage Area (Let to A Gordon) 516 sq ft 48 sq ms
1st Floor
Offices (Let to Plaza BC) 5,688 sq ft 528 sq ms
TOTAL 11,952 sq ft 1,110 sq ms
Occupancy Profile
• NHS Trust - 10 year lease from 6 March 2019.
• Mr A Gordon - 5 year lease from October 2018.
• Plaza Business Centre Ltd – 2 x 5 year leases from October 2021.
• AP Wireless II (UK) Ltd – 50 year (rooftop) lease from July 2014.
• 52 Self Contained Apartments with various leaseholders – 999 year leases from 1st January 2002.
Income
The occupied commercial parts are understood to currently produce a total rent of £134,950 pax. Once let, the vacant café and ground floor office will provide additional income.
Grd rents of £100 per annum, per flat, are receivable with provision for this to be doubled every 25 years for first 99 years of the term
Energy Performance Certificate (EPC)
Available for inspection on request.
Terms
We are instructed to seek offers in the region of £1,400,000 (One Million, Four Hundred Thousand Pounds) for the freehold interest in the property, plus VAT if applicable.
Property information from this agent
Places of interest
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OnTheMarket may have applied supplementary data to this property listing, including:
Broadband availability and predicted speed: obtained from Ofcom on December 16, 2021
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 December 21, 2021
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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