329 Southchurch Road (A13) Southend-on-Sea Essex SS1 2PE

329 Southchurch Road (A13)
Southend-on-Sea
Essex
SS1 2PE

Prominent Freehold Roadside Warehouse Investment

Two adjacent warehouses let to CIS (London) Limited (t/a Mr Clutch Autocentres) and Gymnastic Trust Limited (t/a Southend Gymnastics Centre)
Leases expire March 2026 (Mr Clutch Autocentres) and January 2039 (Southend Gymnastics Centre) - No breaks
Mr Clutch lease renewed in March 2021 - previous rent £43,500 p.a.x.
11,168 sq ft on approximate site area of 0.2 hectares (0.5 acres)
Future Residential Redevelopment Potential (subject to leases and consents)
Prominent location on busy A13, 0.5 miles from Southend Victoria Station and Victoria Shopping Centre
In the same ownership for 15 years

Lot
12
Auction
16th February 2023
Rent
£100,250 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
Live Streamed Auction

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Prominent Freehold Roadside Warehouse Investment

Two adjacent warehouses let to CIS (London) Limited (t/a Mr Clutch Autocentres) and Gymnastic Trust Limited (t/a Southend Gymnastics Centre)
Leases expire March 2026 (Mr Clutch Autocentres) and January 2039 (Southend Gymnastics Centre) - No breaks
Mr Clutch lease renewed in March 2021 - previous rent £43,500 p.a.x.
11,168 sq ft on approximate site area of 0.2 hectares (0.5 acres)
Future Residential Redevelopment Potential (subject to leases and consents)
Prominent location on busy A13, 0.5 miles from Southend Victoria Station and Victoria Shopping Centre
In the same ownership for 15 years

Lot 12
Auction 16th February 2023
Rent £100,250 per Annum Exclusive
Status Sold Prior
Price
Sector
Trade Counter/Builders Merchants
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: A13, A127, A1160
Rail: Southend Victoria Station
Air: London Southend Airport

Situation

The property is prominently situated on the north side of Southchurch Road (A13) in an established commercial location approximately 0.5 miles from Southend Victoria Station and Victoria Shopping Centre in Southend town centre.

Tenure

Freehold.

Location

Miles: 20 miles south-east of Chelmsford, 41 miles south-west of Colchester, 43 miles east of London
Roads: A13, A127, A1160
Rail: Southend Victoria Station
Air: London Southend Airport

Situation

Tenure

Freehold.

Description

The property comprises two warehouses currently used for a tyre and exhaust centre and a gymnastics centre. The property benefits from parking to the front with a total site area of approximately 0.2 hectares (0.5 acres).

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band C

Description

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band C

Tenancy & Accommodation

Address	Use	Gross Internal Floor Areas Approx sq m	Gross Internal Floor Areas (Approx sq ft)	Tenant	Term	Rent p.a.x.	Rent Review
Unit 1, 329 Southchurch Road	Tyre & Exhaust Centre	518.19	(5,578)	C.I.S (LONDON) LIMITED (1) (t/a Mr. Clutch Autocentre)	5 years from 08/03/2021	£55,250	-
Unit 2, 329 Southchurch Road	Gymnasium	519.35	(5,590)	GYMNASTIC TRUST LTD (2) (t/a Southend Gymnastics Centre)	20 years from 15/01/2019	£45,000	15/01/2024 and 5 yearly thereafter
Total		1,037.54	(11,168)			£100,250

(1) C.I.S (London) Limited are involved in the manufacture and distributing of clutches and gearboxes to the motor trade. The company trades from over 40 sites in the UK as Mr Clutch Autocentres. For the year ending 31st December 2021, C.I.S. (London) Limited reported a turnover of £11,013,540, a pre-tax profit of £1,208,718 and a total net worth of £1,125,748 (www.northrow.com)
(2) www.southendgymnastics.com

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.