Skyline Plaza, 45 Victoria Avenue Southend-on-Sea Essex SS2 6BA

Skyline Plaza, 45 Victoria Avenue
Southend-on-Sea
Essex
SS2 6BA

Freehold Office and Residential Ground Rent Investment

Offices let to The Secretary of State for the Home Department until 2027 (subject to options)
52 apartments above producing ground rent
Established office location close to other local government offices and professional occupiers
Directly opposite the Police Station and Crown, County and Magistrates' courts
Close to Southend Victoria Station and main shopping thoroughfare
Nearby retailers include Fitness First, Sainsbury's, Homebase and Currys
Six week completion available

Lot
34
Auction
9th December 2010
Rent
£146,000 per Annum
Status
Withdrawn Post
Price
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP

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Freehold Office and Residential Ground Rent Investment

Offices let to The Secretary of State for the Home Department until 2027 (subject to options)
52 apartments above producing ground rent
Established office location close to other local government offices and professional occupiers
Directly opposite the Police Station and Crown, County and Magistrates' courts
Close to Southend Victoria Station and main shopping thoroughfare
Nearby retailers include Fitness First, Sainsbury's, Homebase and Currys
Six week completion available

Lot 34
Auction 9th December 2010
Rent £146,000 per Annum
Status Withdrawn Post
Price
Sector
Office
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP

Property Information

Location

21 miles south-east of Chelmsford; 43 miles east of Central London
Roads: A13, A127, B1016
Rail: Southend Victoria Rail
Air: Southend Airport, Stansted Airport, City Airport

Situation

The property is located on the busy A127 which is the main arterial route to London. The property is situated in an established office location directly opposite the Police Station and Crown, County and Magistrates' courts, a short distance from the pedestrianised High Street and shopping precinct. The building is in close proximity to other local government offices and professional occupiers. Nearby retailers include Fitness First, Sainsbury's, Homebase and Currys.

Tenure

Freehold.

Location

21 miles south-east of Chelmsford; 43 miles east of Central London
Roads: A13, A127, B1016
Rail: Southend Victoria Rail
Air: Southend Airport, Stansted Airport, City Airport

Situation

Tenure

Freehold.

Description

The property comprises a substantial multi-storey building with OFFICE ACCOMMODATION on the ground and first floors and 52 RESIDENTIAL FLATS on the remaining upper floors. The OFFICE ACCOMMODATION is self-contained and includes perimeter trunking, double glazing and part raised floors. The property benefits from 12 on-site car parking spaces.

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	Offices	653.09 sq m 641.48 sq m	(7,030 sq ft) (6,905 sq ft)	THE SECRETARY OF STATE FOR THE HOME DEPARTMENT (t/a Probation Office)	25 years from 21/06/2002 until 2027 on a full repairing and insuring lease (1)	£140,000	2012 and 5 yearly
Second to Eleventh	Residential - 52 Flats	Not Measured		INDIVIDUALS (3)	Individual 999 year leases from 2002-2004 (2)	£6,000
Totals		1,294.57 sq m	(13,935 sq ft)			£146,000

(1) The lease is subject to a tenant’s option to determine the lease on the 15th and 20th anniversaries of the term.(2) There are 52 flats which are let on individual 999 year leases from 2002-2004 at a rent of £6,000 per annum.(3) In accordance with section 5B of the Landlord & Tenant Act 1987, Notices have been served on the lessees and they have not reserved their rights of first refusal.