FOR SALE, SOUTHEND ESSEX, MIXED INVESTMENT COMPRISING 2 SHOPS & 4 FLATS PRODUCING AN INCOME OF £27,360PA (7% YIELD)

Property Description

A mixed investment opportunity comprising 2 shops, one let with an income of £18,000pa & the other vacant, with four 1 bedroom flats above producing a ground rent of £1,360a pa, & therefore a yield of approx. 5% 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 £19,360PA
Yield Of 5% On Asking Price
Walking Distance Of Both Stations

Viewing Arrangements    All viewing arrangements of the commercial space are via Gerard Biagioni of Dedman Gray Property Consultants on 01702 311 111.

Tenure    Freehold, subject to the tenancies referred to.

Tenancy Schedule    24 Southchurch Road: Vacant. (ERV Approx £10,000pa)
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.