RAYLEIGH ROAD, BENFLEET

0.00 - 0.60
£750,000
  • Ref: 15978
  • Type: Land
  • Availability: Sold STC
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Property Summary

The site currently comprises a complex of older style industrial units occupying a site of approximately 0.6 of an acre. All the units are currently occupied by commercial tenants, all leases have expired and are holding over + one vacant unit. Current rent roll £50,500 per annum. The existing units are in poor order and in need of refurbishment and repair.

Our clients have carried out extensive research in to the possibility of a residential development scheme and had intended to submit a planning application to the local authority, however they have decided not to do so because of ill health. We had a pre application meeting with Castle Point Borough Council in October 2018. They were extremely positive about a residential development for this site. Whilst there were criteria to be satisfied they encouraged an application for the provision of 17 residential units - 11 two beds and 6 one beds - a copy of the pre-application meeting is available upon request.

Full Details

LOCATION
The site is located on the north side of Rayleigh Road, next to Halfords and opposite Sainsbury's.

DESCRIPTION
A freehold site, currently comprises a complex of industrial units which may be suitable for residential development.

AMENITIES
Main road location, about a mile to the east of Rayleigh High Street. Opposite Sainsbury's and the popular Stadium Way Trading Estate.

SERVICES
Mains water, electricity and gas to the site.

TERMS
Offers in excess of £750,000 are required for our client's freehold in these premises with the benefit of the existing commercial buildings and the income from them, upon completion. Current rent roll £50,500 Per Annum.

INFORMAL TENDER CLOSING ON FRIDAY 3rd MAY 2019 - DETAILS ON REQUEST

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 & Son: 01702 394959.