FOR SALE, SOUTHEND ESSEX, VIRTUAL FREEHOLD INVESTMENT PRODUCING £18,000PA

Property Description

A virtual freehold investment opportunity let with an income of £18,000pa (9% yield on asking price). In Approx. 932 sq.ft. and on the London bound side of Victoria Avenue, which has been the subject of considerable development with a number of the Office towers having been converted to quality apartments.

Property
All measurements are approximate, and were measured on a gross internal basis. Ground floor 932 sq.ft. divided into the main salon, 3 treatment rooms, kitchen, store & WC.

Features
Virtual Freehold Investment
Producing Income Of £18,000PA
Yield 9% On Asking Price
Impressive Glazed Frontage
Ground Floor Of Beaumont Court
With 286 Apartments Above!

Investment Content
The property is to be let by way of a lease for a term of 10 years, with a tenant break at the 5th year, and will produce a rental income of £18,000pa + VAT, subject to a reversion in the 5th year.

Tenure/Rent/Service Charge
The property is available by way of a lease for a term of 191 years (virtual freehold) with a ground rent payable of £350pa. The service charge estimate for the current year is £148.57p per month plus VAT.

Business Rates
The most recent rating valuation shows an adopted value of £25,000, resulting in Business Rates payable of approx. £12,500pa.

VAT
The asking price is subject to VAT.

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

Viewing
All arrangements to view are via Gerard Biagioni of Dedman Gray Property Consultants on 01702 311 037.