Entirely let to Affordable Services Ltd (t/a Sunglasses Shop) until 2022
Situated in a prominent position on the pedestrianised High Street
Nearby occupiers include the Royals Shopping Centre, BHS, Santander Bank,
Betfred, Boots the Chemist, British Heart Foundation and Vision Express
Six Week Completion
Lot 36
Auction 27th March 2014
Rent £92,500 per Annum Exclusive
Status Sold
Price £800,000
Sector High Street Retail
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
20 miles south-east of Chelmsford, 41 miles south-west of Colchester, 43 miles east of London
Roads
A1160, A13, A127
Rail
Southend Central Station (0.2 miles)
Air
London Southend Airport (3 miles)
Situation
The property is situated at the heart of Southend’s busy central shopping area in a prominent position on the eastern side of the pedestrianised High Street in close proximity to the Royals Shopping Centre. Neighbouring occupiers include BHS, Santander Bank, H&M, Betfred, British Heart Foundation, Boots the Chemist and Vision Express.
Tenure
Freehold.
Location
Miles
20 miles south-east of Chelmsford, 41 miles south-west of Colchester, 43 miles east of London
Roads
A1160, A13, A127
Rail
Southend Central Station (0.2 miles)
Air
London Southend Airport (3 miles)
Situation
The property is situated at the heart of Southend’s busy central shopping area in a prominent position on the eastern side of the pedestrianised High Street in close proximity to the Royals Shopping Centre. Neighbouring occupiers include BHS, Santander Bank, H&M, Betfred, British Heart Foundation, Boots the Chemist and Vision Express.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with basement storage accommodation and self-contained offices on the first, second and third floors.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor retail unit with basement storage accommodation and self-contained offices on the first, second and third floors.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Basement Ground
Storage/Ancillary Retail/Ancillary
130.52 sq m 203.92 sq m
(2,195 sq ft) (1,405 sq ft)
AFFORDABLE SERVICES LTD (t/a Sunglasses Shop) (1)
15 years from 24/07/2007 until 23/07/2022 on a full repairing and insuring lease
£82,500
24/07/2017
First Second Third
Office Office Office
189.05 sq m 59.92 sq m 52.49 sq m
(2,035 sq ft) (645 sq ft) (565 sq ft)
AFFORDABLE SERVICES LTD (1)
13 years 10 months from 06/10/2008 until 23/07/2022 on a full repairing and insuring lease
£10,000
24/07/2017
Totals
635.90 sq m
(6,845 sq ft)
£92,500
(1) For the year ending 30th April 2012, Affordable Services Ltd reported a turnover of £2,668,751, pre-tax profits of £116,069 and a total net worth of £649,986. (Source: www.riskdisk.com 25/02/2014)
