£395,000
Light industrial for saleSouthchurch Road, Southend-On-Sea, Essex SS1
Freehold
About this property
Investment
Freehold
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 8.5% 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 £33,360 pa
Yield Of 8.5% 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 .
Legal Fees
Each party is to be responsible for their own legal fees.
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 8.5% 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 £33,360 pa
Yield Of 8.5% 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 .
Legal Fees
Each party is to be responsible for their own legal fees.
Mortgage calculator
Monthly repayment
£1,975 per month
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