Prime Retail Investment
Prime Retail Investment
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.
Virtual Freehold. Held for a term of 999 years from completion of the sale at a peppercorn rent.
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.
Virtual Freehold. Held for a term of 999 years from completion of the sale at a peppercorn rent.
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 is applicable to this lot.
Six Week Completion
See legal pack.
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 is applicable to this lot.
Six Week Completion
See legal pack.
| Unit | Floor | Use | Floor Areas (Approx) |
Tenant | Term | Rent p.a.x | Reviews | |
|---|---|---|---|---|---|---|---|---|
| 159 | Ground | Retail | 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) |
£10,000 | 3 yearly |
| 161 | Ground | Retail | 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) |
£15,000 | 3 yearly |
| 163 | Ground | Retail | 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) |
£15,000 | 3 yearly |
| Total |
393.10 sq m |
(4,231 sq ft) (1) |
£40,000 | |||||
(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.
NB: The seller has served notices on the residential tenants, pursuant to section 5B of the Landlord & Tenant Act 1987. No acceptance notices have been received from the tenants within the permitted period.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
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