Summary
| Property Type | Investment - Mixed use |
| Tenure | For Sale |
| Size | 11,952 sq ft |
| Price | £1,100,000 |
| Rates Payable | Upon Enquiry |
- Investment Opportunity
- Mixed Use
- 52 Apartments sold on long lease
- 3 x Let Commercial Parts
- 3 x vacant Commercial Parts available for letting
- Located on main City Centre gateway
- New key point...
- Currently producing £128,950 p.a. (can grow with letting of vacant parts)
About
The freehold of the building comprising Grd & 1st Floor offices along with a vacant Cafe held together under a single lease of the commercial premises which will be included in the sale, plus eight upper floors containing 52 residential apartments which have been sold on long leases. To the rear of the building there is a moderately sized car park which is used by the residents and commercial occupiers.
Accommodation
| Name | sq ft | sq m | Tenure | Rent | Price | Rates Payable | Service charge | Service Charge (sq ft) | EPC | Monthly Rent | Monthly Service Charge | Availability |
| Ground - cafe | 829 | 77.02 | To Let | - | - | On Application | On Application | On Application | - | - | - | Available |
| Ground - Offices | 4,300 | 399.48 | To Let | - | - | On Application | On Application | On Application | - | - | - | Let |
| Ground - Office | 619 | 57.51 | To Let | - | - | On Application | On Application | On Application | - | - | - | Available |
| Ground - Storage Area | 516 | 47.94 | To Let | - | - | On Application | On Application | On Application | - | - | - | Available |
| 1st - Offices | 5,688 | 528.43 | To Let | - | - | On Application | On Application | On Application | - | - | - | Let |
| Total | 11,952 | 1,110.38 |
Location
The property is located on the west side of Victoria Avenue, a short distance from its junction with Victoria Circus and the London Road (A13) and close to Southend City Centre. Mainline train services are available at Southend Victoria (to London Liverpool Street) and Southend Central (London Fenchurch Street).
Downloads
Download Marketing Brochure
Further Information
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Viewings
Strictly via prior appointment with the sole selling agents, Dedman Gray Commercial. For further information or to arrange a viewing contact: Roy Horton T: 01702 311039 E: royhorton@dedmangray.co.uk Mike Gray T: 01702 311132 E: mikegray@dedmangray.co.uk
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Terms
We are instructed to seek offers in the region of £1,100,000 (One Million, One Hundred Thousand Pounds) for the freehold interest in the property, plus VAT if applicable.
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Income
The occupied commercial parts are understood to currently produce a total rent of £134,950 pax. Once let, the vacant café and ground floor office will provide additional income.
Grd rents of £100 per annum, per flat, are receivable with provision for this to be doubled every 25 years for first 99 years of the term -
Tenancy
• NHS Trust - 10 year lease from 6 March 2019.
• Plaza Business Centre Ltd – 2 x 5 year leases from October 2021.
• AP Wireless II (UK) Ltd – 50 year (rooftop) lease from July 2014.
• 52 Self Contained Apartments with various leaseholders – 999 year leases from 1st January 2002. -
EPC
Available for inspection on request.
Gallery
