From
£1,400,000
Property for saleHigh Street, Rayleigh SS6
Auction
About this property
High Yielding Retail Investment Opportunity
Let to Savers and Holland & Barrett
WAULT of Approximately Five Years
Producing £144,400 per annum
20,489 sq ft (1,903 sq m)
Substantial Upper Parts Offer Medium/Long Term Development Potential (stp)
High Footfall High Street Location
Guide Price Reflects a Gross Yield of 10.3%
Strapline
Auction Sale - 10/10/2023
High Yielding Retail Investment
High Street Retail Property Let to Savers and Holland & Barrett
Producing £144,400 per annum with a WAULT of approx 5 years
Medium/Long Term Development Potential
Description
The property comprises two prominent high street retail units with substantial associated upper parts.
The property is fully let to Savers and Holland & Barrett producing a total income of £144,400 with an unexpired lease term of approximately five years.
Situated a short walking distance from Rayleigh Rail Station, the property occupies a prominent position on the High Street, enjoying high footfall. Nearby occupiers include Costa, Boots, Clarks and Barclays.
Both units include substantial upper parts (12,335 sq ft across both units), which are used by the tenants as ancillary space, staff areas and storage. However, there may be potential for conversion to alternative uses subject to the existing leases and any requisite consents.
The property benefits from rear service access from Websters Way and the principal town centre car park is also directly to the rear of the property.
Location
The property occupies a prime, high footfall, position on Rayleigh High Street, situated on the southern side of the street at the junction with Bellingham Lane. This area enjoys a wider pavement and is also the position of a regular street market.
Transport
Tenancy
Dun and Bradstreet (D&B) Ratings
Savers Health and Beauty Limited - 5A1
Holland & Barrett Limited - 2A
Please see the tenancy schedule and legal pack for more information.
Planning
Whilst there are no extant planning consents, the property may be suitable for conversion to alternative uses, including residential. This is subject to the existing leases and any requisite consents.
Auction Sale - 10/10/2023
High Yielding Retail Investment
High Street Retail Property Let to Savers and Holland & Barrett
Producing £144,400 per annum with a WAULT of approx 5 years
Medium/Long Term Development Potential
Description
The property comprises two prominent high street retail units with substantial associated upper parts.
The property is fully let to Savers and Holland & Barrett producing a total income of £144,400 with an unexpired lease term of approximately five years.
Situated a short walking distance from Rayleigh Rail Station, the property occupies a prominent position on the High Street, enjoying high footfall. Nearby occupiers include Costa, Boots, Clarks and Barclays.
Both units include substantial upper parts (12,335 sq ft across both units), which are used by the tenants as ancillary space, staff areas and storage. However, there may be potential for conversion to alternative uses subject to the existing leases and any requisite consents.
The property benefits from rear service access from Websters Way and the principal town centre car park is also directly to the rear of the property.
Location
The property occupies a prime, high footfall, position on Rayleigh High Street, situated on the southern side of the street at the junction with Bellingham Lane. This area enjoys a wider pavement and is also the position of a regular street market.
Transport
- Rayleigh Station - 0.4 miles
- London Liverpool St (by rail) - 42 mins
- Southend-on-Sea - 5.8 miles
Tenancy
Dun and Bradstreet (D&B) Ratings
Savers Health and Beauty Limited - 5A1
Holland & Barrett Limited - 2A
Please see the tenancy schedule and legal pack for more information.
Planning
Whilst there are no extant planning consents, the property may be suitable for conversion to alternative uses, including residential. This is subject to the existing leases and any requisite consents.
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