Retail premises for sale in High Street, Southend-On-Sea SS1

Location

The premises is situated towards the Southern end of the High Street close to its junction with Pier Hill/Royal Terrace. Southend Central Station is 0.2 miles/5 minutes walk to the North of the demise. Notable occupiers nearby include the British Heart Foundation, Toni & Guy, and Boots Chemist.

Accommodation

Ground floor retail unit occupied by Betfred, arranged predominantly open plan with sales area, staff facilities and male and female public WC’s. Access is by virtue a front entrance on High Street albeit there is also a fire exit to the rear of the premises providing means of escape onto the side elevation on Richmond Avenue.

Lease terms

The ground floor is let to Betfred on a Full Repairing and Insuring (Fri) Lease for a term of 15 years from 25th March 2004. The Tenants have protection under the 1954 Act and are therefore holding over at a rental of £32,500.00 . The lease provides for upwards only rent reviews in June 2009 and 2014.

The long leasehold interest is for a term of 994 years from 25th December 1954.

Price

Offers in the region of £300,000.00 subject to contract for the long leasehold interest with the benefit of the current tenancy in place.

VAT

VAT is not applicable in respect of this transaction.