Southend on Sea is approx. 45 miles from Central London & 20 miles from Chelmsford and enjoys excellent road and rail links. Located on West Street on the western side of Victoria Avenue being the main Arterial Route into Southend which then sells first class public transport facilities.
An attractive mixed use investment opportunity producing approx. £34,220 per annum. The investment comprises three commercial units on the ground floor and a 2 bed flat above. The commercial tenants have outstanding rent reviews which will therefore increase in the overall rental income. In addition, an advertising board on the side of unit 8 produces £600 pa on an informal arrangement.
All areas are approximate and taken from the Valuation Office Authority estimations:
Unit 2-4 (William Hill) - Overall = 1,231 sq. Ft. (114.4 sq. Ms.)
Unit 6 (Boux Beauty) - Overall = 358 sq. Ft. (33.3 sq. Ms.)
Unit 8 (Blow) - Overall = 363 sq. Ft. (33.8 sq. Ms.)
Flat 4A (2 Bed) Overall = 810 sq. Ft. (75.3 sq. Ms)
Mixed Use Freehold
Three Commercial Units
Total Income Approx. £34,220 pa
Outstanding Rent Reviews
2 Bed Flat
The freehold is available to buy for offers in the region of £540,000 (VAT not applicable).
Full lease terms and tenancy schedule are available upon request.
The properties are entered on the 2017 rating list with the follow descriptions and rateable values:
2-4 West Street - Shop and Premises with a current rateable value of £12,750.
6 West Street - Shop and Premises with a current rateable value of £3,750.
8 West Street - Shop and Premises with a current rateable value of £3,800.
Interested parties are advised to seek verification from Southend On Sea Borough Council Business Rates department.
Although we are advised that the unit benefits from main services, we would recommend that all interested parties check with the relevant statutory authorities as to the existence, adequacy or otherwise of these.
Energy Performance Certificate
All units require a new energy performance survey to be conducted and will be commissioned in due course.
Each party to be responsible for their own legal costs.
By prior appointment with Dedman Gray Commercial on .