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UNDER OFFER

2 Calcutta Road, Tilbury, Essex, RM18

Fixed Price
£650,000

£122.66 per sq. ft.

Business rates & charges may apply

Blue Alpine, London
SIZE AVAILABLE
5,299 sq. ft.
(492 sq. m.)
SECTOR
High street retail property for sale
USE CLASS
Use class orders: A1 Shops
A1

Key features

  • Comprises two ground floor retail shops and gym at first floor.
  • Rental Increase in September 2021 to a minimum of £28,706.09 p.a. (GIY - 4.42%)
  • Development potential for additional storeys or conversion of uppers and rear commercial to residential, subject to getting consents.
  • VAT is NOT applicable to this property.
  • Nearby occupiers include The Co-operative Food, Boots, Tesco Express and a variety of local traders.
  • Total area size of 492.30 sq m (5,299 sq ft)

Property description

Tenure: Freehold

Investment Consideration:
Gross Initial Yield: 3.90%
Rental Income: £25,372 p.a.
Rental Increase in September 2021 to a minimum of £28,706.09 p.a. (GIY - 4.42%)
Comprises two ground floor retail shops and gym at first floor.
Development potential for additional storeys or conversion of uppers and rear commercial to residential, subject to getting consents.
VAT is NOT applicable to this property.
Total area size of 492.30 sq m (5,299 sq ft)
Nearby occupiers include The Co-operative Food, Boots, Tesco Express and a variety of local traders.

Property Description:
The property is arranged on ground and one upper floor to provide two ground floor shops together with a self-contained gym on the first floor which is accessed from St. Chads Road. Development potential for additional storeys or conversion of uppers and rear commercial to residential, subject to getting consents.

The property provides the following accommodation and dimensions:
Ground Floor: Unit 1 (Betfred) 105.90 sq m (1,139 sq ft)
Ground Floor: Unit 2 (Florist) 116.70 sq m (1,256 sq ft)
First Floor: Gym 269.70 sq m (2,903 sq ft)
Total area size: 492.30 sq m (5,299 sq ft)

Tenancy:
The property is at present let to Done Brothers (Cash Betting) Ltd for a term of 16 years from 28th February 2011 at a current rent of £25,372 per annum and the lease contains full repairing and insuring covenants. Rent review in September 2021 with minimum rental increase to £28,706.09 p.a. (minimum 2.5% p.a. compounded uplift). No break clause. Part of the ground floor has been sublet to a florists and the first floor has been sublet to a gym operator.

Location:
The Thameside town of Tilbury is a deep water port and freight terminal located 27 miles east of central London, close to Grays. Road access is excellent, with the A13 offering direct access to the M25 and the Dartford Crossing. The property is situated at the eastern end of Calcutta Road, the main thoroughfare through the eastern side of Tilbury, at its junction with St Chads Road. Occupiers close by include The Co-operative Food, Barclays Bank, Ladbrokes, Tesco Express and a variety of local traders.

Brochures

2 Calcutta Road, Tilbury, Essex, RM18

Approximate location

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Tilbury Town Station0.4 miles
  • Gravesend Station1.4 miles
  • Northfleet Station2.0 miles

About Blue Alpine, London

83c Ashley Gardens, Thirleby Road, London, SW1P 1HG

Blue Alpine is a leading advisory company that helps clients around the world turn property into a path for growth. We plan and deliver solutions that manage risk, optimise benefits, and expand the power of capital to protect and strengthen portfolios. Together, we unlock potential. At Blue Alpine, we believe a comprehensive understanding of a client’s financial goals are key to helping them fulfil their investment expectations. By employing a transparent and consultative approach we can asse

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