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

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
    21
  • Auction
    4th November 2021
  • Rent
    £40,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £380,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
Important Update
  • Expand
  • Photos
  • Map

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

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 21
  • Auction 4th November 2021
  • Rent
  • Status Sold
  • Price £380,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction

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 Fenchurch 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.

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 Fenchurch 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.

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

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 £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Property Documents

  • Catalogue Page
    Updated Date
    15.10.21
    File Size
    761 KB
    View PDF
  • Site Plan
    Updated Date
    15.10.21
    File Size
    888 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

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Seller's Solicitors
Berlad Graham LLP Boundary House, Cricket Field Road
Uxbridge
UB8 1QG
Jack Grunhut 03301 755655jg@bglaw.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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