Property Summary
The buildings are older styles workshops and may be suitable for re-development subject to the necessary planning consents and to obtaining vacant possession.
The site is mostly let at present and is producing an annual rent of £38,050 (potential to increase , vacant offices ERV £10,500 pax) . Let on Law Society lease which are inside the 1954 Act except for units 4.and 5 which are contracted out
UNUSUAL OPPORTUNITY TO PURCHASE
Full Details
LOCATION
The site is located on Brunel Road on the popular Manor Trading Estate
DESCRIPTION
A complex of tenanted industrial units, with an office building and yard - freehold investment for sale
ACCOMMODATION
UNIT 1 - let on a 7 year lease from 18/2/2019 - rent passing £6,500 pax
UNIT 2 - Let on a 7 year lease from 5/12/2019 at rent passing of £,8,250 pax (contracted out lease)
UNIT 3 - Let on a 3 year lease from 30/04/2021 at rent passing of £6,150 pax
UNIT 4 / 5 Let on a contracted out lease from 15/9/2024 at a rent of £10,500 pax (quarterly mutual break options)
UNIT 6 Let on a 2 year lease from 18/08/2021 at a rent of £7,000 pax
OFFICES B,C and D - vacant but ERV £10,400
N.B. Toilet and kitchen facilities are shared and within the office block
SERVICES
Mains electricity and water to the site
TERMS
This site is being offered for sale by way of an informal tender and we are inviting offers in the region of £700,000 Sealed bids are to be received at our office at 200 London Road, Southend on Sea, SS1 1PJ. Bids are to be marked 'TENDER BID - DO NOT OPEN . FOR THE ATTENTION OF DIANE TAIT/ HAYDEN HARLE'
BIDS CLOSE MIDDAY ON TUESDAY 17TH MAY 2022
OUTGOINGS
The leases provide for the tenants to pay the business rates .
VAT
The site is not VAt elected
LEGAL COSTS
Each party to be responsible for their own legal costs
VIEWING
Prior telephone appointment via Hair and Son: 01702 394959 (Option 3).
Please note that the site itself is open and interested parties may visit of their own accord. Although, should interested parties wish to view the premises' internally then a prior appointment must be made through Hair and Son.