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Land for sale

Development site in Southend-on-sea

Offers Over £599,000

Property Description

Key features

  • Potential Development Opportunity
  • Currently:
  • Retail & 3 Apartments
  • Potential Planning for:
  • Retails and 6 Residential apartments
  • Vendor will consider STPP offers

Full description

Tenure: Freehold

Development site with planning potential. Previous planning history was for 6 Residential Flats and 1,400sqft Ground Floor Retail.

Description
Currently the premises comprises of a commercial unit on the ground floor and residential units above.

The commercial unit net floor area is 141sqft (134sqm) and currently occupied by SPAR, achieving a rent of £15,000pa. The lease is a further 10 years.

The residential units are currently 2 x 1 bed flats and 1 x 2 bed flat.

Planning Information
Planning permission is applied for to obtain, original planning reference: 14/00818/FUL

Convert part of ground floor into one self-contained flats, erect single storey rear extension, erect additional floor to form two self-contained flats and lay out amenity and parking area to the rear (Amended Proposal)

Planning status: refused due to technicality

Vendor will consider both unconditional and subject to planning offers.

Location
Southend-on-Sea is a seaside resort town and wider unitary authority area with borough status in Essex. Located on the north side of the Thames estuary, 40 miles east of Central London and bordered to the north by Rochford, to the west by Castle Point. It is home to the longest leisure pier in the world, Southend Pier. London Southend Airport is located 1.7 miles north of the town centre.

Southend is served by two National Rail lines. Running from Southend Victoria northout of the town is the Liverpool Street line, a branch of the Great Eastern Main Line operated by Greater Anglia. The services operate to London Liverpool Street.

Description
Currently the premises comprises of a commercial unit on the ground floor and residential units above.

The commercial unit net floor area is 141sqft (134sqm) and currently occupied by SPAR, achieving a rent of £15,000pa. The lease is a further 10 years.

The residential units are currently 2 x 1 bed flats and 1 x 2 bed flat.

Planning History
Planning permission has been submitted for Ground floor Retail and 6 flats and is defined as:

Convert part of ground floor into one self-contained flats, erect single storey rear extension, erect additional floor to form two self-contained flats and lay out amenity and parking area to the rear (Amended Proposal) (Ref: 14/00818/FUL)

Status: Refused on slight technicality

Gross Development Value
The estimated gross development value has been calculated to be £990,000.

Purchase Price
Vendor is seeking offers in the region of £600,000 and would consider both unconditional and subject to planning offers.


More information from this agent

Listing History

Added on Rightmove:
11 February 2016

Map & Street View

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