Property Summary
The commercial premises are let to HARP on the basis of a 5 year lease with effect from October 2023 at a rent of £9,500 in year one and rising by £250 per annum in each of the following years. The lease is within the security of tenure provisions of the Landlord and Tenant Act 1954.
The flat is sold on a 199 ground lease from 2019 producing £155 per annum . 10 yearly review in line with the RPI
CURRENT INCOME £9,500 PER ANNUM with an annual increase of £250 per annum .
Full Details
LOCATION
The premises is located on the north side of Southchurch Road within the popular Southchurch Village shopping area
DESCRIPTION
A tenanted shop and long leasehold flat over
ACCOMMODATION
SHOP 15'8" X 14'3" + 13'3" X 12'4"
REAR SALES 11'4" x 14'4" security grilles to side windows
STORE ROOM 7'4" x 11'4"
INTERNAL W.C.
EXTERNALLY
CONCRETED YARD AREA 8'7" X 17'11"
FIRST AND SECOND FLOOR FLAT OVER APPROACHED VIA ACCESS DOOR TO THE FRONT
SERVICES
Mains electricity and water to the premises
TERMS
£120,000 is required for our client's freehold interest in these premises , with the benefit of the tenancies in place.
VAT is not payable on the purchase price.
OUTGOINGS
The occupiers are responsible for payment of business rates and council tax respectively.
VAT
The property is not VAT elected
LEGAL COSTS
Each party to be responsible for their own legal costs
VIEWING
Prior telephone appointment