Southchurch Avenue, Southend-on-Sea
£935,000
£0
LOCATION
Located on Southchurch Avenue between Southchurch Road and Queensway/Woodgrage Drive.
DESCRIPTION
An investment opportunity made up on 4 commercial properties and 4 x self contained flats.
ACCOMMODATION
83/83a Southchurch Avenue:
Let on a full repairing and insuring lease for a term of 20 years from 2018 at a current passing rent of £12,000 per annum.
85 Southchurch Avenue:
Let on a lease for a term of 12 years from 2007 (currently holding over) at a current passing rent of £5,750 per annum.
85a Southchurch Avenue:
Currently let on a 12 month AST agreement at a rent of £6,000 per annum.
87/87a Southchurch Avenue:
Let on a full repairing and insuring lease for a term of 12 years from 2007 (currently holding over) at a current passing rent of £11,500 per annum.
89 Southchurch Avenue:
Let on a full repairing and insuring lease for a term of 10 years from 2018 at a current passing rent of £11,500 per annum.
CURRENT GROSS INCOME: £50,000 PER ANNUM following recent rent reviews.
AMENITIES
Local amenities include main bus links and close proximity the Southend East Railway Station.
TERMS
£935,000 is required for our client's freehold interest in these premises.
OUTGOINGS
83 Southchurch Road (Rateable Value): £5,300.
85 Southchurch Road/87 Southchurch Road (Rateable Value): £12,500.
89 Southchurch Road (Rateable Value): £6,200.
LEGAL COSTS
Each party is to be responsible for their own legal costs.
PARKING NOTES
On street parking to front (1 hour stay).
VIEWING
By prior appointment via Hair & Son: 01702 394959 (Option 3).