Lot 7 : Freehold Commercial Investment

1 & 1a Southend Road, Grays , RM17 5NH

Guide price*

WITHDRAWN

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Description

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.

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ACCOMMODATION  

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

RATEABLE VALUE 
The rating assessments are as follows:
1a Southend Road - RV £6,200
1C Southend Road - RV £6,300
1D Southend Road - £2,600
 
DESCRIPTION

 

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

 

VIEWING

By appointment with the Auctioneer and at the courtesy of the Tenants.

 

 


 


1 & 1a Southend Road, Grays

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General remarks

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.

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Lot 7 1 & 1a Southend Road, Grays, RM17 5NH

Freehold Commercial Investment WITHDRAWN

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Lot 7 : • 1 & 1a Southend Road, Grays , RM17 5NH

Freehold Commercial Investment • WITHDRAWN

Auction on 14th March 2019 3pm

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