159-163 High Street
Southend-on-Sea
SS1 1LL

Prime Retail Investment

  • Three well configured shops all let on new 20 year leases from April 2021 (subject to options)
  • Modest commencing rents
  • Prime pedestrianised retail location
  • Neighbouring occupiers include Costa, Holland & Barrett, Sports Direct, Superdrug and JD Sports
  • Lot
    22
  • Auction
    16/Jun/2021
  • Rent
    £40,000 per Annum Exclusive
  • Status
    Withdrawn Prior
  • Price*
     
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
Important Update
  • 159-163 High Street<br>Southend-on-Sea<br>SS1 1LL
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

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
(54 minutes to London enchurch Street)
Southend Victoria Station
Air
London Southend Airport
Situation

The property is situated in a prominent and central location on the west side of the busy and pedestrianised High Street. Southend Central and Southend Victoria Railway Station, and Victoria Shopping Centre are a short walk away and neighboring occupiers include Costa, Holland & Barrett, Sports Direct, Superdrug and JD Sports.

Tenure

Virtual Freehold. Held for a term of 999 years from completion of the sale at a peppercorn rent.

Description

The property comprises a retail parade providing three separately let shops arranged on the ground floor only. The property benefits from rear access and loading via Farringdon Service Road and forms part of a larger building, not included the sale.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

See legal pack.

Tenancy & Accommodation

UnitFloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReviews
159GroundRetail
131.03 sq m
(1,410 sq ft)
GMC
TECHNOLOGY LTD
t/a Repair Station
20 years from
03/04/2021 until
02/04/2041 (2)
£10,0003 yearly
161GroundRetail
131.03 sq m
(1,410 sq ft)
TECHNET
CORPORATION UK
LTD t/a Daily
Organics (A vegan
grocery shop)
20 years from
03/04/2021 until
03/04/2041 (2)
£15,0003 yearly
163GroundRetail
131.04 sq m
(1,411 sq ft)
TOP REPAIR LTD
t/a Smart Tec
(mobile phone
repair shop)
20 years from
03/04/2021 until
03/04/2041 (2)
£15,0003 yearly

(1) The above floor areas have been provided by the Valuation Office Agency at www.voa.gov.uk.
(2) The lease provides for a landlord and tenant option to determine in year 5, subject to 3 months written notice.

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Catalogue Page
    Updated Date
    27.05.21
    File Size
    760 KB
    View PDF
  • Site Plan
    Updated Date
    27.05.21
    File Size
    860 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    07.10.20
    File Size
    1,016 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860george.goucher@acuitus.co.uk
Seller's Solicitors
Berlad Graham LLP Boundary House, Cricket Field Road
Uxbridge
UB8 1QG
Jack Grunhut 020 3325 8171jg@bglaw.co.uk

Useful Links

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
How can Acuitus Finance help you with bridging finance
How can Acuitus Finance help you with bridging financeObtain bridging finance now