Property Summary
The shop trades as Essex Gas Showrooms, and has done so for a number of years. The premises are let on FRI terms and the lease has recently been renewed for a further 5 years and is producing an income of £13,000 per annum exclusive. the current business has traded in that location since 2003. THE TRADING BUSINESS IS UNAFFECTED
There is a two bed flat over which has been let but is currently vacant. The flat is in need of some improvement but would be ideal for owner occupation or the lettings market.
EPC Rating for the shop C- 63
Full Details
LOCATION
The property is located in Southchurch Road on the corner of Ilfracombe Avenue.
DESCRIPTION
A commercial investment producing £13,000 per annum exclusive with vacant self contained 2 bed flat over.
ACCOMMODATION
GROUND FLOOR RETAIL PREMISES
SALES AREA 798 SQ.FT. (74 sq.m.)
STORAGE 126 sq.ft.
KITCHEN
W.C.
EPC rating - C-63
PRODUCING £13,000 per annum exclusive - BUSINESS NOT AFFECTED
Flat - self contained entrance to front of the premises
Ground floor entrance hall 13'1" X 14'1"
Kitchen 7' x 8'1"
Bathroom
W.C.
Bedroom 1 12'1" x 16'1"
Bedroom 2 12' x 12'1"
Bedroom 3 10' x 8'8"
EPC RATING F-37
SERVICES
Mains electricity and water. Gas central heating to the flat (not tested)
TERMS
£320,000 is required for our client's freehold interest in these premises with the benefit of the tenancy in place in respect of the ground floor (producing £13,000 per annum) and the vacant two bed flat over.
OUTGOINGS
The ground floor retail premises has a rateable value of £10,000 which is chargeable at 48.6p. in the pound for the rating year to April 2020. Small business rate relief may apply.
The flat is
VAT
The property is not VAT elected.
LEGAL COSTS
Each party to be responsible for their own legal costs.
SERVICE CHARGE
Not applicable
PARKING NOTES
On street parking in Southchurch Road and a large municipal car park close by.
PLANNING
A1 retail use of the ground floor.
VIEWING
Prior telephone appointment