£350,000
(£184.21/sq. ft)
Light industrial for saleVictoria Avenue, Southend-On-Sea, Essex SS2
1,900 sq. ft
Leasehold
About this property
Investment
1900 Approx Sq Ft
Leasehold
Description:
A virtual freehold investment opportunity let with an income of £36,000pa (10.28% yield on the asking price). Comprising a Licenced Coffee Shop in some 1,900 sq.ft. On the London bound side of Victoria Avenue, which has been the subject of considerable development with a number of the Office towers having been converted to quality apartments.
Property
All measurements are approximate, and were calculated on a gia (Gross Internal Area) basis:
In a total of approx. 1,900 sq.ft. With an open plan seating area, together with a commercial fully equipped kitchen and ladies/gents toilets. In addition, al-fresco area licenced for up to 30 seated customers.
Features
Virtual Freehold Investment
Producing Income Of £36,000PA
Yield 10.28% On Asking Price
Approx, 1,900 Sq.Ft. Overall
On Busy Victoria Avenue
Highly Visible Corner Location
Investment Content
The property is let by way of a lease for a term of 15 years from 22nd November 2023, producing a rental income of £36,000pa + VAT, subject to a reversion in November 2028.
Tenure/Rent/ Service Charge
The property is available by way of a lease for a term of 191 years (virtual freehold) with a ground rent payable of £350pa. The service charge estimate for the current year is £266.67p per month plus VAT.
Business Rates
The most recent rating valuation shows an adopted value of £21,750, with Business Rates payable of approx. £10,875pa.
Energy Performance Certificate
A copy of the EPC (B rating) is available on request.
Finance Available
Finance is available, subject to status, via the lpa Receivers.
Legal Fees
Each party is to be responsible for their own legal fees.
Viewing
All arrangements to view are via Gerard Biagioni of Dedman Gray Property Consultants on .
A virtual freehold investment opportunity let with an income of £36,000pa (10.28% yield on the asking price). Comprising a Licenced Coffee Shop in some 1,900 sq.ft. On the London bound side of Victoria Avenue, which has been the subject of considerable development with a number of the Office towers having been converted to quality apartments.
Property
All measurements are approximate, and were calculated on a gia (Gross Internal Area) basis:
In a total of approx. 1,900 sq.ft. With an open plan seating area, together with a commercial fully equipped kitchen and ladies/gents toilets. In addition, al-fresco area licenced for up to 30 seated customers.
Features
Virtual Freehold Investment
Producing Income Of £36,000PA
Yield 10.28% On Asking Price
Approx, 1,900 Sq.Ft. Overall
On Busy Victoria Avenue
Highly Visible Corner Location
Investment Content
The property is let by way of a lease for a term of 15 years from 22nd November 2023, producing a rental income of £36,000pa + VAT, subject to a reversion in November 2028.
Tenure/Rent/ Service Charge
The property is available by way of a lease for a term of 191 years (virtual freehold) with a ground rent payable of £350pa. The service charge estimate for the current year is £266.67p per month plus VAT.
Business Rates
The most recent rating valuation shows an adopted value of £21,750, with Business Rates payable of approx. £10,875pa.
Energy Performance Certificate
A copy of the EPC (B rating) is available on request.
Finance Available
Finance is available, subject to status, via the lpa Receivers.
Legal Fees
Each party is to be responsible for their own legal fees.
Viewing
All arrangements to view are via Gerard Biagioni of Dedman Gray Property Consultants on .
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Monthly repayment
£1,750 per month
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