FOR SALE, SOUTHEND ESSEX, VIRTUAL FREEHOLD INVESTMENT PRODUCING £36,000PA

Property Description

A virtual freehold investment opportunity let with an income of £36,000pa (7.5% yield on asking price). Comprising a Licenced Coffee Shop in some 1,900 sq.ft. 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 calculated on a gross internal basis:
In a total of approx. 1,900 sq.ft. with an open plan seating area, together with a commercial fully equipped kitchen and ladies/gents toilets. In addition, al-fresco area licenced for up to 30 seated customers.

Features
Virtual Freehold Investment
Producing Income Of £36,000PA
Yield 7.5% On Asking Price
Approx, 1,900 Sq.Ft. Overall
On Busy Victoria Avenue
Highly Visible Corner Location

Investment Content
The property is let by way of a lease for a term of 15 years from 22nd November 2023, producing a rental income of £36,000pa + VAT, subject to a reversion in November 2028.

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 £266.67p per month plus VAT.

Business Rates
The most recent rating valuation shows an adopted value of £21,750, with Business Rates payable of approx. £10,875pa.

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