LONDON ROAD, WESTCLIFF

£279,000
  • Ref: 16837
  • Availability: For Sale
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Property Summary

The property comprises a lock up shop with a self contained 3 bed flat over located on the north side of the London Road, Westcliff , opposite Chalkwell Park . The shop is let as a bridal shop which has traded from these premises for a number of years. The shop is let on a 12 year lease expiring in 2029, with a tenant's break at year 6 at a rent passing of £7,900 per annum.

The flat over with front and side entrance and comprises 3 bedroomed accommodation. We have not inspected the flat but we are advised that it benefits from double glazing and gas fired central heating. Currently let on an assured shorthold tenancy for a period of one year from 24th October 2019 at a rent of £825 per calendar month.

Full Details

LOCATION
The property is located on the north side of London Road opposite Chalkwell Park

DESCRIPTION
A mixed commercial / residential investment - business not affected

ACCOMMODATION
SHOP 14'8" x 29'2"
REAR SALES 10'10" X 13'2*

KITCHEN/STAFF ROOM 10'9" x 8'5" Door to rear garden
INTERNAL W.C. AND LOBBY 10'10" x 3'4"

EXTERNALLY - ENCLOSED REAR GARDEN (may be suitable for extension to the ground floor subject to planning permission)
Let on a full repairing and insuring lease expiring in 2029 at a rent passing of £7,900 per annum exclusive

3 BED FLAT OVER with access to the side of the property
Currently let on an assured shorthold tenancy from 24th October 2019 for a period of a year at a rent of £825 per calendar month.

SERVICES
Mains electricity, water , Gas ( to the flat only)

TERMS
£279,000 is required for our client's freehold in these premises with the benefit of the income from the tenancies in place producing £17,800 per annum.

OUTGOINGS
The rateable value for the shop is £6,500 which is chargeable at 49.3p. in the pound for the rating year to April 2020. Small business rate relief may apply.

The flat will be subject to payment of Council Tax

Council tax and business rates will be payable by the tenants in occupation.

VAT
To be confirmed

LEGAL COSTS
Each party to be responsible for their own legal costss.

SERVICE CHARGE
Not applicable

PARKING NOTES
On street parking close by (one hour)

PLANNING
A1 retail use of the ground floor
A residential flat over

VIEWING
Strictly by prior telephone appointment