Property for sale

Warrior Square, Southend-On-Sea, Essex, SS1

Sold STC £920,000

Property Description

Key features

  • Town Centre Leisure Investment
  • Close Southend Central Station
  • Prominent Position
  • Let to Regis Entertainment
  • 35 year lease from 25 December 1995
  • Rent 91,791 PA Exclusive

Full description

Tenure: Freehold

LOCATION:
Southend on Sea is located approx. 45 miles from Central London & 20 miles from Chelmsford. The town enjoys excellent road and rail links. The property is situated just off of the High Street, on the western side of Chichester Road, to the south western corner of Warrior Square.

DESCRIPTION:
Ground floor nightclub (trading as Dick De Vignes) forming part of a substantial mixed use building and arranged to provide entrance lobby, reception desk and cloakroom, two bar areas, DJ booth, seating areas, w/c facilities, kitchen and cellar. There is also an external smoking area adjacent to the main entrance. Let to Regis Entertainment Investments No 1 Limited by way of a 35 year lease commencing 25th December 1995 at a current rent of £91,791.

Accommodation 
Although we have not had an opportunity to measure the premises, we understand that they extend to approx. 6,700 sq.ft. (622 sq ms).

Features 
Town Centre Leisure Investment Close to Southend Central Train Station Prominent Position Let to Regis Entertainment Investments No 1 Limited 35 year lease from 25 December 1995 Rent £91,791 p.a. exclusive

Tenancy 
The property is let to Regis Entertainment Investments No 1 Limited (t/a Dick De Vignes) by virtue of a 35 year lease commencing 25th December 1995 at a current rent of £91,791 exclusive.

Terms 
Our client is seeking offers in the region of £920,000 plus VAT if applicable for a new 999 year lease, reflecting a net initial yield of 9.64% (allowing for purchase costs at 5.75%).

Business Rates 
The property is entered on the 2010 Rating List as 'Restaurant & Premises' with an adopted rateable value of £85,500.

Energy Performance Certificate 
An EPC will be made available for inspection.

More information from this agent

Listing History

Added on Rightmove:
15 January 2016

Nearest stations

  • Southend Central (0.1 mi)
  • Southend Victoria (0.2 mi)
  • Southend East (0.8 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

  • Southend Central (0.1 mi)
  • Southend Victoria (0.2 mi)
  • Southend East (0.8 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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