£1,050,000
(£438.60/sq. ft)
Property for sale181-183 High Street, Southend-On-Sea, Essex SS1
2,394 sq. ft
EPC Rating: F
Freehold
About this property
Investment Opportunity
Mixed Use Freehold
Total Income £71,000.
2 Bed & 3 Bed Self Contained Flats
Reversionary Potential at Lease Expiry
Excellent Transport Links
Description
A terraced mixed use freehold investment opportunity currently producing a total income of £71,000 pa. The ground floor comprises of approximately 2,394 sq. Ft. And is let to a 'Costa Coffee' producing an income of £41,000. Pa +VAT. On the 1st floor and 2nd floors, there is a 3 bedroom large self-contained flat and 2 bedroom flat currently let on a rolling periodic tenancies producing a total income of £30,000. Pa. This property benefit from secure tenancies at rents below prevailing market levels, providing an attractive opportunity for rental growth.
Viewings
By prior appointment with Matt Parsons of Dedman Gray Property Consultants on Mobile .
Accommodation
Ground Floor (Costa Coffee) Approx. 2,394 sq. Ft. (222.4 sq. M.)
1st & 2nd Floor Flats: Not Measured
EPC
B-26 Valid Until 7/10/2034
Tenure
The Freehold is available at £1,050,000. (plus VAT if applicable)
Business Rates
The property is entered on the most recent rating list with a rateable value of £43,500.
Tenancy Schedule
Full lease terms and tenancy schedule are available upon request.
Services
Although we are advised that the property benefits from main services, we would recommend that all interested parties check with the relevant statutory authorities as to the existence, adequacy or otherwise of these.
A terraced mixed use freehold investment opportunity currently producing a total income of £71,000 pa. The ground floor comprises of approximately 2,394 sq. Ft. And is let to a 'Costa Coffee' producing an income of £41,000. Pa +VAT. On the 1st floor and 2nd floors, there is a 3 bedroom large self-contained flat and 2 bedroom flat currently let on a rolling periodic tenancies producing a total income of £30,000. Pa. This property benefit from secure tenancies at rents below prevailing market levels, providing an attractive opportunity for rental growth.
Viewings
By prior appointment with Matt Parsons of Dedman Gray Property Consultants on Mobile .
Accommodation
Ground Floor (Costa Coffee) Approx. 2,394 sq. Ft. (222.4 sq. M.)
1st & 2nd Floor Flats: Not Measured
EPC
B-26 Valid Until 7/10/2034
Tenure
The Freehold is available at £1,050,000. (plus VAT if applicable)
Business Rates
The property is entered on the most recent rating list with a rateable value of £43,500.
Tenancy Schedule
Full lease terms and tenancy schedule are available upon request.
Services
Although we are advised that the property benefits from main services, we would recommend that all interested parties check with the relevant statutory authorities as to the existence, adequacy or otherwise of these.
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Monthly repayment
£5,252 per month
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