A Freehold Corner Building Arranged as a Ground Floor Commercial Unit Producing £12,500 Per Annum and Three Flats Above (All Sold Off Producing a Combined Ground Rent of £750 Per Annum). Therefore Producing a Combined Income of £13,250 Per Annum

The property comprises a corner building arranged as a ground floor retail unit and three flats.

Tenure

Freehold

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of John Burrows Play Ground are within easy reach. Transport links are provided by Leigh-on-Sea rail station.

Accommodation

Ground Floor Retail Unit First Floor Three Flats (All Sold Off)

Tenancy

The property is subject to a lease for a term of 15 years commencing 8th June 2023 at a rent of £12,500 per annum. Rent reviews every 5 years. All 3 flats are subject to 125 year leases from 29th September 2016 at a ground rent of £250 per annum each. Therefore total rent received is £13,250 per annum.

The vendors have advised us that one of the leaseholders are currently improving the property by carrying out external redecoration at their own cost.

Energy Efficiency Rating (EPC)

Current Rating C

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Additional Fees

Administration Charge - Purchasers will be required to pay an administration fee of £1,500 inc VAT

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.