Commercial Property for sale

Sutton Road, Southend On Sea, Essex, SS2

£695,000

Property Description

Key features

  • Investment
  • Freehold

Full description

Tenure: Freehold

LOCATION:
The property is located eastern side of Sutton Road (B1015). Sutton Road is a busy thoroughfare that links Southend Town Centre and Eastern Avenue (A1159). There is a frequent bus Service, providing easy access to the town centre and Prittlewell Train Station is just 0.6 Miles from the site. Other local traders and points of interest include The Greyhound Retail Park, KFC and a new development of 97 apartments being built directly opposite by Western Homes.

DESCRIPTION:
We are pleased to offer this mixed commercial/ residential investment opportunity consisting of a ground floor shop and motor garage together with four, one bedroom flats all let on 6 monthly AST's. Our client has obtained planning permission to convert an area to the rear of the workshop to a fifth one bedroom flat. Once these works are completed we estimate that the opportunity could generate an income of £46,500 per annum. Interested parties are advised to contact Dedman Gray Property Consultants on 01702 311111 to make arrangements to view.


Accommodation 
This investment opportunity consists of: 262 Sutton Road - Currently Let to Sloan’s Beauty Essex 262a Sutton Road - Let on Private AST 262b Sutton Road - Let on Private AST 264 Sutton Road - Currently occupied by the Vendor 264a Sutton Road - Let on Private AST 264b Sutton Road - Let on Private AST There are 5 Parking spaces to the rear. All lettings are on a short term flexible basis, we have valued its income potential at approx £46,500 per annum (once the ground floor flat has been created).

Terms 
The Freehold of both 262 & 264 are available at an asking price of £695,000. All other terms and conditions by negotiation.

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.

Planning 
Planning permission was granted (15/01119/FUL) on 24th September 2015 to convert the rear part of the motor workshop to a self-contained flat. 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 Southend Borough Council on 01702 215000.

Business Rates 
The beauty salon is are entered on the 2010 rating list as Shop and Premises (262 Sutton Road) with a current ratable value of £4,200. 264 Sutton Road is entered on the 2010 rating list also as a Shop and Premises with a current rateable value of £9,500. Interested parties are advised to seek verification from Southend Borough Councils Business Rates department.

Legal Fees 
Each party to be responsible for their own legal costs.

More information from this agent

Nearest stations

  • Southend Victoria (0.4 mi)
  • Prittlewell (0.5 mi)
  • Southend Central (0.7 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.

Map & Street View

Nearest stations

  • Southend Victoria (0.4 mi)
  • Prittlewell (0.5 mi)
  • Southend Central (0.7 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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