Property for sale

Grove Road, Grays, Essex, RM17

Sold STC £265,000

Property Description

Key features

  • Freehold Investment Opportunity
  • In Mainly Residentila Location
  • Commercial/Residential Opportunity
  • Let On 15 Year Lease
  • Total Rent Roll 24,360 Per Annum
  • Ground Floor Hot Food Take Away

Full description

LOCATION:
The property is situated on the corner of Gypsy Lane and Grove Road, Grays. It is situated within a densely populated area which is just metres from a local Infant and Junior School. The property is just one mile from Grays Train Station and offers good short stay parking nearby.

DESCRIPTION:
This mixed commercial/ residential investment opportunity currently produces £24,360. The ground floor consists of a Commercial premises (A5 hot food takeaway), a studio flat and a workshop is let on a 15 year Lease which has approx 10 years remaining. The upper parts comprise of a one bedroom Flat and a Studio flat, both of which are let on Assured Shorthold Tenancy Agreements. Copies of the Leases are available upon request. Please call Dedman Gray on 01702 311111 to make arrangements to view.

Description 
This mixed commercial/ residential investment opportunity currently produces £24,360. The ground floor consists of a Commercial premises (A5 hot food takeaway), a studio flat and a workshop is let on a 15 year Lease which has approx 10 years remaining. The upper parts comprise of a one bedroom Flat and a Studio flat, both of which are let on Assured Shorthold Tenancy Agreements. Copies of the Leases are available upon request.

Tenure 
Ground Floor (Commercial Shop, Studio Flat & Workshop) - Current Rent £14,400 First Floor One Bed Flat - Current Rent £6,600 First Floor Studio Flat - £3,360 Total rental income - £24,360 per annum

Terms 
Our client is look to dispose of the Freehold interest for a price of £265,000. All other terms and conditions by negotiation.

Business Rates 
The ground floor commercial premises is entered on the 2010 rating list as a shop and premises with a current rateable value of £2,350. Interested parties are advised to seek verification from Thurrock Councils Business Rates department.

Planning 
Interested parties are recommended to make their own enquiries with the local Planning Authority to ensure that any proposed use is in accordance with the current planning policy. Telephone Thurrock Council on 01375 652 652.

Services 
Although we are advised that the unit 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.

Viewing 
By prior appointment with Dedman Gray Commercial on 01702 311111.

More information from this agent

Listing History

Added on Rightmove:
12 April 2016

Nearest stations

  • Grays (0.6 mi)
  • Tilbury Town (1.2 mi)
  • Northfleet (2.1 mi)
Distances are straight line measurements from centre of postcode

Nearest schools

Use the school checker

To view this property or request more details, contact:

Dedman Gray, Essex

103 The Broadway, Thorpe Bay, Essex, SS1 3HQ

01702 744063 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Grays (0.6 mi)
  • Tilbury Town (1.2 mi)
  • Northfleet (2.1 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Dedman Gray, Essex

103 The Broadway, Thorpe Bay, Essex, SS1 3HQ

01702 744063 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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