Retail premises for sale in Calcutta Road, Tilbury RM18

Fixed price £650,000 (£122.66/sq. ft)
Retail premises for sale 5,299 sq. ft*
Interested in this property? Call +44 20 3641 9157 * or Request Details

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Property features

  • Comprises two ground floor retail shops and gym at first floor.
  • Residential development potential stp
  • Rental Increase in September 2021 to a minimum of £28,706.09 p.a. (giy - 4.42%)
  • VAT is not applicable to this property.
  • Total area size of 492.30 sq m (5,299 sq ft)
  • Nearby occupiers include The Co-operative Food, Boots, Tesco Express

Property description

Investment Consideration:
Gross Initial Yield: 3.90%
Rental Income: £25,372 p.a.
Rental Increase in September 2021 to a minimum of £28,706.09 p.a. (giy - 4.42%)
Comprises two ground floor retail shops and gym at first floor.
Development potential for additional storeys or conversion of uppers and rear commercial to residential, subject to getting consents.
VAT is not applicable to this property.
Total area size of 492.30 sq m (5,299 sq ft)
Nearby occupiers include The Co-operative Food, Boots, Tesco Express and a variety of local traders.

Property Description:
The property is arranged on ground and one upper floor to provide two ground floor shops together with a self-contained gym on the first floor which is accessed from St. Chads Road. Development potential for additional storeys or conversion of uppers and rear commercial to residential, subject to getting consents.

The property provides the following accommodation and dimensions:
Ground Floor: Unit 1 (Betfred) 105.90 sq m (1,139 sq ft)
Ground Floor: Unit 2 (Florist) 116.70 sq m (1,256 sq ft)
First Floor: Gym 269.70 sq m (2,903 sq ft)
Total area size: 492.30 sq m (5,299 sq ft)

Tenancy:
The property is at present let to Done Brothers (Cash Betting) Ltd for a term of 16 years from 28th February 2011 at a current rent of £25,372 per annum and the lease contains full repairing and insuring covenants. Rent review in September 2021 with minimum rental increase to £28,706.09 p.a. (minimum 2.5% p.a. Compounded uplift). No break clause. Part of the ground floor has been sublet to a florists and the first floor has been sublet to a gym operator.

Location:
The Thameside town of Tilbury is a deep water port and freight terminal located 27 miles east of central London, close to Grays. Road access is excellent, with the A13 offering direct access to the M25 and the Dartford Crossing. The property is situated at the eastern end of Calcutta Road, the main thoroughfare through the eastern side of Tilbury, at its junction with St Chads Road. Occupiers close by include The Co-operative Food, Barclays Bank, Ladbrokes, Tesco Express and a variety of local traders.

Property info

* Sizes listed are approximate. Please contact the agent to confirm actual size.

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For more information about this property, please contact
Blue Alpine Partners, SW1P on +44 20 3641 9157 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Blue Alpine Partners, and do not constitute property particulars. Please contact Blue Alpine Partners for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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