Morrisons Local Hilton Road Canvey Island Essex SS8 9UB

Morrisons Local
Hilton Road
Canvey Island
Essex
SS8 9UB

Freehold Retail and Residential Investment

Entirely let to WM Morrison Convenience Stores Ltd (with guarantee from WM Morrison Supermarkets plc) on a new 15 year lease until 2030 (no breaks)
Five yearly Retail Price Index (RPI) linked rent reviews
Recently redeveloped/refurbished convenience store situated in a densely populated residential area
Approximate site area of 0.19 hectares (0.47 acres) with on-site car parking
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
28
Auction
21st May 2015
Rent
£55,005 per Annum Exclusive
Status
Withdrawn Prior
Price
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Morrisons

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Freehold Retail and Residential Investment

Entirely let to WM Morrison Convenience Stores Ltd (with guarantee from WM Morrison Supermarkets plc) on a new 15 year lease until 2030 (no breaks)
Five yearly Retail Price Index (RPI) linked rent reviews
Recently redeveloped/refurbished convenience store situated in a densely populated residential area
Approximate site area of 0.19 hectares (0.47 acres) with on-site car parking
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 28
Auction 21st May 2015
Rent £55,005 per Annum Exclusive
Status Withdrawn Prior
Price
Sector
Supermarket/Convenience
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Morrisons

Property Information

Location

Miles: 8 miles south-west of Southend-on-Sea, 17 miles south of Chelmsford, 35 miles east of Central London
Roads: A130, A13, M25 (Junction 29)
Rail: Benfleet Railway Station
Air: London Southend Airport

Situation

Canvey Island is an established and popular Essex seaside resort/town, situated 8 miles from Southend-on-Sea. The property occupies a prominent corner site at the junction of Hilton Road and
Link Road in a densely populated residential area.

Tenure

Freehold.

Location

Miles: 8 miles south-west of Southend-on-Sea, 17 miles south of Chelmsford, 35 miles east of Central London
Roads: A130, A13, M25 (Junction 29)
Rail: Benfleet Railway Station
Air: London Southend Airport

Situation

Tenure

Freehold.

Description

The property comprises retail and ancillary accommodation on the ground floor with a three bedroom flat on the first floor. The property has an approximate site area of 0.19 hectares (0.47 Acres) with on-site car parking. There is an electricity sub-station on site.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

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
Ground First	Retail/Ancillary Three Bedroom Flat	364.91 sq m –	(3,928 sq ft) (–)	WM MORRISON CONVENIENCE STORES LTD (guaranteed by WM Morrison Supermarkets plc) (1)	15 years from completion on a full repairing and insuring lease	£55,000	On the fifth anniversary of the term and five yearly thereafter in line with RPI (2)
Electricity Sub-station				EASTERN POWER NETWORKS PLC	42 years from 1 October 1979 until 2021	£5.00
Totals		364.91 sq m	(3,928 sq ft)			£55,005

(1) WM Morrsion has been trading for over 100 years and operates 500 supermarkets and 150 Morrison Locals throughout the UK with over 117,000 employees. (Source: www.morrisons-corporate.com).
(2) The lease provides for the rent to be reviewed on the fifth year of the term and five yearly thereafter in line with the Retail Price Index (RPI), subject to a minimum of 1% and a maximum of 3%.