19,465 sq. Ft. Current rental income of £129,250 per year.
A fantastic opportunity to redevelop this prime site. The property comprises a large four storey building totalling 19,465 gross sq. Ft (1,808 sq. M). Floor plans and cad available. The property is arranged to provide well configured retail sales accommodation at basement (Coral), ground floor (Crazy Cave) and first and second floors (Marks & Spencer). Freehold & VAT elected.
See the CGI (overleaf) showing the substantial development possible subject to planning and vacant possession. The landlord has reserved access rights to the upper parts from the High Street.
Accommodation & Tenants:
Marks & Spencer plc – 45 years at £34,000 pa from 01/03/1982.
First (Sales) : 4,661 sq ft / 433 sq m
Second (Ancillary) : 4,675 sq ft / 434.3 sq m
Total nia: 9,336 sq ft / 867.3 sq m
Crazy Cave – 5 years at £60,000 pa from 02/03/2021.
Ground (Sales) : 4,110 sq ft / 381.8 sq m
Lower Ground(Ancillary) : 1975 sq ft / 1836.4 sq m
Total nia : 6,085 sq ft / 565.3 sq m
Coral Estates Ltd – 15 years at £35,250 pa from 26/02/2006.
Lower Ground (Sales) : 1649 sq ft / 153.1 sq m
Ground (Entrance) : 173 sq ft / 16 sq m
Total nia : 1,882 sq ft / 169.3 sq m
Southend-on-Sea is a popular seaside town, and one of the major commercial centres in Essex, England. The town is located 42 miles east of Central London and is home to the longest pleasure pier in the world, Southend Pier. The town features two main railway stations and an international airport. On 18 October 2021, it was announced that Southend will be granted city status, as a memorial to the Member of Parliament for Southend West, Sir David Amess, a long-time supporter of city status for the town, who was fatally stabbed on 15 October 2021.
Southend benefits from a long pedestrianised High Street, flagged on the North & South ends by large shopping centres; The Royals Shopping Centre & Victoria Plaza Shopping Centre.
The scheme is located on the semi pedestrianised High Street, close to Southend Central Station & The Royals Shopping Centre and the Seaside – nearby retailers include; Primark, H&M, Greggs