£350,000
(£184.21/sq. ft)
Property for saleUnit 1, Beaumont Court, 61-71 Victoria Avenue, Southend-On-Sea, Essex SS2
1,900 sq. ft
Freehold
About this property
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
Description
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.
Viewings
All arrangements to view are via Gerard Biagioni of Dedman Gray Property Consultants on .
Finance Available
Finance is available, subject to status, via the lpa Receivers.
EPC
A copy of the EPC (B rating) is available on request.
Business Rates
The most recent rating valuation shows an adopted value of £21,750, with Business Rates payable of approx. £10,875pa.
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.
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.
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.
Viewings
All arrangements to view are via Gerard Biagioni of Dedman Gray Property Consultants on .
Finance Available
Finance is available, subject to status, via the lpa Receivers.
EPC
A copy of the EPC (B rating) is available on request.
Business Rates
The most recent rating valuation shows an adopted value of £21,750, with Business Rates payable of approx. £10,875pa.
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.
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.
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Monthly repayment
£1,750 per month
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