Double fronted shop let to Savers Health & Beauty on a lease expiring 2025 (no breaks)
Recently converted uppers floors to comprise six self-contained flats
Close to Victoria Plaza Shopping Centre
Lot 20
Auction 18th October 2018
Rent £127,500 per Annum Exclusive
Status Sold
Price £1,600,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
20 miles south-east of Chelmsford, 35 miles east of Central London
Roads
A13, A127, M25 (Junction 29)
Rail
Southend Central and Southend Victoria Railway Stations
Air
London Southend Airport, London Stansted Airport
Situation
Southend-on-Sea is a popular tourist destination and important commercial town located 35 miles east of Central London, 25 miles south-east of Chelmsford and 20 miles east of Brentwood. The town benefits from good communications with Southend Airport and being located on the A127, which provides direct access to the A13 and the M25 some 18 miles to the west. Southend railway station provides services to London Liverpool Street and Fenchurch Street stations. The property is located in the town centre on the pedestrianised
High Street, close to its junction with Queens Road. Occupiers close by include McDonald’s, WHSmith, William Hill, Costa, Nationwide, HSBC, Metro and JD Sports.
Tenure
Freehold.
Location
Miles
20 miles south-east of Chelmsford, 35 miles east of Central London
Roads
A13, A127, M25 (Junction 29)
Rail
Southend Central and Southend Victoria Railway Stations
Air
London Southend Airport, London Stansted Airport
Situation
Southend-on-Sea is a popular tourist destination and important commercial town located 35 miles east of Central London, 25 miles south-east of Chelmsford and 20 miles east of Brentwood. The town benefits from good communications with Southend Airport and being located on the A127, which provides direct access to the A13 and the M25 some 18 miles to the west. Southend railway station provides services to London Liverpool Street and Fenchurch Street stations. The property is located in the town centre on the pedestrianised
High Street, close to its junction with Queens Road. Occupiers close by include McDonald’s, WHSmith, William Hill, Costa, Nationwide, HSBC, Metro and JD Sports.
Tenure
Freehold.
Description
The property comprises a double fronted ground floor shop together with six self-contained flats above. The recently converted upper floors provide residential accommodation comprising 4 x one bedroom flats and 2 x two bedroom flats. The flats are accessed via Queens Road.
VAT
VAT is applicable to this lot.
EPC
191 - E
193 - F
Flats C,C,D,D,D,D
Description
The property comprises a double fronted ground floor shop together with six self-contained flats above. The recently converted upper floors provide residential accommodation comprising 4 x one bedroom flats and 2 x two bedroom flats. The flats are accessed via Queens Road.
VAT
VAT is applicable to this lot.
EPC
191 - E
193 - F
Flats C,C,D,D,D,D
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x.
Review
Ground Basement
Retail Ancillary
230 sq m 164 sq m
(2,476 sq ft) (1,765 sq ft)
SAVERS HEALTH AND BEAUTY LIMITED (1)
10 years from 4/11/2015 on a full repairing and insuring lease
£75,000
2020
First (A)
Residential
1 bed flat
INDIVIDUAL
AST for one year from 16/04/2018
£8,400 (2)
First (B)
Residential
1 bed flat
INDIVIDUALS
AST for one year from 09/03/2018
£7,800 (2)
First (C)
Residential
2 bed flat
INDIVIDUALS
AST for one year from 17/08/2018
£9,600 (2)
Second (D)
Residential
2 bed flat
INDIVIDUALS
AST for one year from 04/05/2018
£10,500 (2)
Second (E)
Residential
1 bed flat
INDIVIDUAL with guarantor
AST for one year from 09/03/2018
£7,800 (2)
Second (F)
Residential
1 bed flat
INDIVIDUALS
AST for one year from 16/08/2018
£8,400 (2)
Total
394 sq m
(4,421 sq ft)
£127,500
(1) Savers was founded in 1988 and currently operates over 380 stores throughout the UK, employing over 3,000 personnel (www.savers.co.uk). Savers Health and Beauty Limited is ultimately owned by CK Hutchison Holdings Limited. (2) Rent deposit of approximately 1 month’s rent held.
