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Shop & 2-Bed Flat Investment, West Street, Southend-on-Sea

Offers in Region of
£279,000

£238.87 per sq ft

Business rates & charges may apply

Gilbert and Rose Commercial, Essex Commercial
SIZE AVAILABLE

1,168 sq ft

109 sq m

SECTOR

Out-of-town retail property for sale

Description

RETAIL SHOP & 2-BED FLAT INVESTMENT - WEST STREET, SOUTHEND-ON-SEA, SS2 6HH - A terraced mixed use property with the shop and flat both let to two separate tenants.  OUR REF: RX263542 - I6743E

Tenure

For sale freehold subject to the following tenancies.



The shop is let upon a 5-year lease from 6th October 2021 at a current rental of £6,000 per annum exclusive. The lease is subject to rent reviews on 6th October 2023 and a second rent review on 6th October 2024.



The first-floor flat is let upon an assured shorthold tenancy (holding over) at a rental of £650 per month, however, this tenant has been in occupation since 2011 so has a favourable rent for being a long-term tenant, we feel market value is closer to £800 per calendar month.

Premises

A terraced mixed commercial and residential property comprising of a retail shop with two bedroom first-floor flat, the accommodation is arranged as follows:



RETAIL SHOP with fascia board, glazed frontage and single glazed entrance door leading into the premises which measures approximately 555 sq ft.



2-BED FIRST-FLOOR FLAT accessed via single entrance door at the front of the property leading to a staircase up to the accommodation which is arranged to provide kitchen, lounge, bathroom and two bedrooms.

Business Rates

The shop has a rateable value of £5,200 resulting in zero business rates payable, should small business rate relief apply to a tenant.

Legal Costs

Each party to be responsible for their own legal costs incurred in the transaction.

Location

The property is located in a secondary parade of mixed use shops and flats along West Street, Southend-on-Sea which is just off Victoria Avenue.

Disclaimer

Whilst every care is taken to ensure that these particulars are correct, accuracy is no way guaranteed and none of the information supplied forms part of any contract. Acceptance of these particulars constitutes a contract to the effect that all negotiations for the business or property will be made through Gilbert & Rose otherwise the purchaser will be equally responsible with the vendor for damages equal to the amount of our commission.

Shop & 2-Bed Flat Investment, West Street, Southend-on-Sea

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NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Prittlewell Station0.3 miles
  • Southend Victoria Station0.5 miles
  • Southend Central Station0.8 miles

About Gilbert and Rose Commercial, Essex Commercial

1333-1335 London Road, Leigh-On-Sea, SS9 2AD

Gilbert & Rose Business Transfer and Commercial Property Sales and Lettings

Gilbert & Rose is a respected and well-established name in the real estate industry, renowned for our expertise in Residential Sales and Lettings. Building on our success in this area, we have expanded our services to encompass business transfer and commercial property sales and lettings. As part of this strategic expansion, we have recently partnered with Bradleys Countrywide Limited, a highly regarded company with over sixty years of experience in commercial business transfer within Essex, Hertfordshire, and Suffolk.

By combining our strengths and leveraging the extensive knowledge and database of our merger partner, we possess unparalleled access to comparable evidence. This enables us to provide accurate valuations and deliver successful business sales for our clients. Our marketing approach is comprehensive and innovative, utilizing a range of powerful tools such as video marketing, professional photography (including drone shots), and virtual tours. We conduct extensive marketing and advertising campaigns, leveraging the reach of the largest business and residential property websites, alongside our own constantly updated platform. We understand the importance of maintaining confidentiality in certain cases, and we offer tailored advertising solutions to meet the specific requirements of our clients.

At Gilbert & Rose, transparency is at the heart of everything we do. Our fees are competitive and transparent, with no hidden charges, and payment is only required upon the successful completion of a transaction. We take pride in providing expert advice and guidance to our clients, whether they are ready to sell or simply seeking information. Our dedicated team is committed to exploring the best options available to suit your individual needs, ensuring that you can make well-informed decisions throughout the process.

Whether you are looking to buy, sell, or lease a property, we invite you to contact us for any further information you may require. At Gilbert & Rose, our commitment to delivering exceptional service is unwavering. We are here to assist you every step of the way on your real estate journey. Get in touch with us today and let us help you achieve your goals with confidence and success.

Notes

These notes are private, only you can see them.

Disclaimer - Property reference RX263542. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Gilbert and Rose Commercial, Essex Commercial. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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