Victoria Avenue, Southend-on-Sea, Essex, SS2
Business rates & charges may apply
- SIZE
Ask agent
- SECTOR
Commercial property for sale
Key features
- Freehold Investment Opportunity
- Multi Occupied/Mixed Use Building
- Current Income £134,950 with growth potential
- Prominent location
- Close to Southend Victoria Train Station & local amenities
Description
The freehold of the building comprising Grd & 1st Floor offices along with a vacant Café held together under a single lease of the commercial premises which will be included in the sale, plus eight upper floors containing 52 residential apartments which have been sold on long leases. To the rear of the building there is a moderately sized car park which is used by the residents and commercial occupiers.
The property is located on the west side of Victoria Avenue, a short distance from its junction with Victoria Circus and the London Road (A13) and close to Southend City Centre. Mainline train services are available at Southend Victoria (to London Liverpool Street) and Southend Central (London Fenchurch Street).
Accommodation
We have not had an opportunity to undertake a full measured survey but understand that the commercial areas are arranged to provide the following Net Internal (NIA Areas): Grd Floor Café (Vacant) 829 sq ft 77 sq ms Offices (Let to NHS) 4,300 sq ft 399 sq ms Office (Vacant) 619 sq ft 57 sq ms Storage Area (Let to A Gordon) 516 sq ft 48 sq ms 1st Floor Offices (Let to Plaza BC) 5,688 sq ft 528 sq ms TOTAL 11,952 sq ft 1,110 sq ms
Occupancy Profile
• NHS Trust - 10 year lease from 6 March 2019. • Mr A Gordon - 5 year lease from October 2018. • Plaza Business Centre Ltd – 2 x 5 year leases from October 2021. • AP Wireless II (UK) Ltd – 50 year (rooftop) lease from July 2014. • 52 Self Contained Apartments with various leaseholders – 999 year leases from 1st January 2002.
Income
The occupied commercial parts are understood to currently produce a total rent of £134,950 pax. Once let, the vacant café and ground floor office will provide additional income. Grd rents of £100 per annum, per flat, are receivable with provision for this to be doubled every 25 years for first 99 years of the term
Energy Performance Certificate (EPC)
Available for inspection on request.
Terms
We are instructed to seek offers in the region of £1,100,000 (One Million, One Hundred Thousand Pounds) for the freehold interest in the property, plus VAT if applicable.
Viewing Arrangments
Strictly via prior appointment with the sole selling agents, Dedman Gray Commercial. For further information or to arrange a viewing contact: Roy Horton T: E: Mike Gray T: E:
Brochures
Victoria Avenue, Southend-on-Sea, Essex, SS2
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Southend Victoria Station0.2 miles
- Southend Central Station0.5 miles
- Prittlewell Station0.5 miles
Notes
Disclaimer - Property reference DCM230131. 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 Dedman Gray Property Consultants Limited, Thorpe Bay. 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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