Southchurch Road, Southend-on-Sea, Essex, SS1
£395,000
Guide price
Guide price
DESCRIPTION:
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.
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.
Viewing Arrangements All viewing arrangements of the commercial space are via Gerard Biagioni of Dedman Gray Property Consultants on 01702 311 111.
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.
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.
Viewing Arrangements All viewing arrangements of the commercial space are via Gerard Biagioni of Dedman Gray Property Consultants on 01702 311 111.
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