Lot 7 : Freehold Commercial Investment
1 & 1a Southend Road, Grays , RM17 5NH
This property does not have features to display.
FOR SALE BY AUCTION ON THE 14TH MARCH 2019 AT SAXON HALL, AVIATION WAY, SOUTHEND ON SEA, ESSEX, SS2 6UN STARTING AT 3PM. EXCELLENT INVESTMENT OPPORTUNITY...A Freehold multi tenanted commercial investment forming part of an established shopping parade and producing an income of £22,120 per annum. The property offers potential for development subject to all necessary consents.
1c SOUTHEND ROAD
ENTRANCE HALL WITH STAIRS TO FIRST FLOOR
OFFICE 20'7" x 16'2"
KITCHENETTE 6'3" x 11'
CORNER OFFICE (irregular shape0 16'2" x 13'
OFFICE 9'11" x 20'8"
(Currently trading as Robert Stephens Letting Agency)
GROUND FLOOR SHOP
(Currently sub-let for use as beauty therapy)
SHOP 8'8" x 17'
TREATMENT ROOM 4'10" x 10'7"
These premises are held on a Law Society lease for a term of 6 years with effect from 1st January 2016 at a current rent of £15,220 per annum exclusive of VAT, business rates and all other outgoings and subject to a rent review at the end of the third year of the term. We are advised that the lease is within the security of tenure provisions of the Landlord and Tenant Act 1954 and permits sub-letting of part.
1B SOUTHEND ROAD (Carpet shop)
Single storey building fronting Chadwell Road
SHOP 20'4" (average) X 20'10" + 10'11" x 9'7" step up to
OFFICE 15'3" x 6'6"
Currently let on the basis of a Law Society lease for a term of 6 years with effect from the 1st May 2016 at a current rent of £6,900 per annum exclusive of VAT, business rates and all other outgoings and subject to a rent review on the 1st May 2019
The rating assessments are as follows:
1a Southend Road - RV £6,200
1C Southend Road - RV £6,300
1D Southend Road - £2,600
The premises are occupied by way of two commercial leases
which produce an annual income of £22,120 .
The first floor offices are let together with small lock up shop on the
ground floor to Robert Stephens Letting Agency. The premises at 1c Southend Road is let as a
carpet shop. Both leases expire in 2022.
There is a single storey retail premises which fronts Chadwell Road which is let as a carpet shop and produces a rent of £6,900 per annum exclusive.
There is a further retail shop and that is sold on a ground lease for a term of 999 years with a peppercorn ground rent.
There are three allocated parking spaces to the rear of the carpet shop, off Chadwell Road. In addition, there is on street parking in Southend Road.
ENERGY PERFORMANCE RATING - TBC
By appointment with the Auctioneer and at the courtesy of the Tenants.
1 & 1a Southend Road, Grays
This property currently has no location details.
This property currently has no floor plans to display.
This property currently has no epc‘s to display.
Tenanted properties may only be viewed by prior arrangement with Hair & Son. The Auctioneer reserves the right to divide or sell part of any lot or offer two or more lots together.
*An important note on guide prices
We issue a guide price for each property. These are not the same as reserve prices which are the undisclosed figure below which the property will not be sold “under the hammer”. The guide prices are usually set at the lower end of the vendors expectations. Guide prices are sometimes adjusted between publication of the catalogue and the auction sale, these adjustments are shown on our web site. They can go up especially if pre Auction offers are received and declined in excess of the guide, or they can go down. Within the industry the reserve is expected to be within 10% of the final guide price. As a general rule our reserves over the past year have not exceeded the price guides in the catalogue.
See our Notice to Bidders
Occasionally properties are sold prior to auction and we recommend that
prospective purchasers check with this office on
01702 39 49 59 on the morning of the sale to confirm that the property in which they are interested is still available.
Talk to us about auctions
Whatever your enquiry, get in touch today.
Our experts are here to help.
Lot 7 • 1 & 1a Southend Road, Grays, RM17 5NH
Freehold Commercial Investment • WITHDRAWN
Thank you for requesting updates to:
Lot 7 : • 1 & 1a Southend Road, Grays , RM17 5NH
Freehold Commercial Investment • WITHDRAWN
Auction on 14th March 2019 3pm
Certain aspects on our website, including contact forms and property enquiries require you to supply us contact information. This contact information including name, e-mail address, etc. is used for the benefit of all so that we may communicate important information regarding your account and our services.
We also require that you are registered with us online if you wish to access extended information about properties via the web site. Some extended information requires us to authorise you to have access and may require human contact with you using the contact details provided. Please help us by providing correct information as requested. Usually this authorisation is a one off process and once activated will give you continued access to extended property information.
If you would rather talk with us directly please use the main number or use the contact tab for additional methods of contact.
Unless otherwise agreed, the information we gather about you will not be supplied or sold to any third parties.
You should consider any communication that you transmit to Hair and Son, including data, enquiries, comments, etc. as non-confidential, and agree that Hair and Son will not be liable or responsible if information that belongs to you is intercepted and used by an unintended recipient.Close