FOR SALE, SOUTHEND ESSEX, MIXED INVESTMENT COMPRISING 2 SHOPS & 4 FLATS PRODUCING AN INCOME OF £32,000 PA (8.1% YIELD)

Property Description

A mixed investment opportunity comprising 2 shops, one let with an income of £20,000pa, the other at £12,000pa, with four 1 bedroom flats above producing a total ground rent of £1,360pa, & therefore a yield of 8.1% 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 £32,000 PA
Yield Of 8.1% On Asking Price
Walking Distance Of Both Stations

Tenure
Freehold, subject to the tenancies referred to.

Tenancy Schedule
24 Southchurch Road: 20 year lease from August 2024. Rent £12,000pa with 5 yearly rent reviews, the next in August 2029.
26 Southchurch Road: 20 year lease from 28th June 2013. Rent £20,000pa with 5 yearly rent reviews, the next in June 2028.
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.

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

Legal Fees
Each party is to be responsible for their own legal fees.