Mixed Commercial/residentialinvestment For Sale - Central Leigh On Sea

LOCATION
The property is located in popular trading location on the south side of Leigh Road ,

DESCRIPTION
A mixed retail / residential investment in Central Leigh on Sea

ACCOMMODATION
170/172 Leigh Road
Let to Havens Hospices on the basis of a FRI lease for a term of 10 years from 20th August 2021 at a rent passing of £12,000 per annum exclusive . The tenants have an option to determine the lease in August 2026 , there is also a rent review in August 2026.

168 is let to Mr. David Burton Sampson as a constituency office on a FRI for a term of 5 years with effect from January 2025 at a rent of £12,500 per annum exclusive and with require

168a - the flat is held on a lease for 125 years at a rent of £200 per annum

PRODUCING £24,700 PER ANNUM

AMENITIES
Central Leigh location. On street car parking (limited to 2 hours)

SERVICES
Mains electricity and water connected to the property.

TERMS
The property is being offered for sale by way of an informal tender and we are inviting offers in excess of £400,000 for our client's freehold interest, with the benefit of the tenancies in place.

The tender process closes at midday on the 1st March 2025 and sealed bids are to be received at 190 London Road, Southend . Further details are available on request

OUTGOINGS
The commercial tenants are responsible for their own business rates and the long leaseholders of the flat are responsible for payment of Council Tax

VAT
The property is not VAT elected

LEGAL COSTS
Each party to be responsible for their own legal costs

SERVICE CHARGE
The leases contain the provision for recovery of a service charge, if demanded

PARKING NOTES
On street parking in Leigh Road (limited to 2 hours)

VIEWING
STRICTLY BY PRIOR TELEPHONE APPOINTMENT