66-68 High Street
Essex, SS1 1JF
Totalling 19,465 sq ft/1,810.25 sq m gross, mid terraced and pavement lined, built over basement, ground, first and second floor levels. Floor plans and CAD available upon request.
Let to Coral Estates Ltd upon a 15 year lease from 26.02.06 at £35,250 per annum exclusive. 1,649 sq ft/153.19 sq m plus ground floor entrance lobby 173 sq ft/16.07 sq m. Total NIA 1,822 sq ft/169.26 sq m.
Let to Cosmetics Republic upon a 5 year lease from 02.03.21 at £60,000 per annum exclusive. 4,110 sq ft/381.82 sq m ground floor sales, 1,975 sq ft/183.44 sq m lower ground floor ancillary. Total NIA 6,085 sq ft/565.26 sq m.
First & Second Floor
Let to Marks & Spencer Plc upon a 45 year lease from 01.03.82 at £34,000 per annum exclusive. First floor 4,661 sq ft/433.01 sq m, second floor 4,675 sq ft/434.31 sq m. Total NIA 9,336 sq ft/867.32 sq m.
Total rental income – £129,250 per annum exclusive.
The premises are prominently located within Southend town centre, close to McDonald’s, Lloyds Bank, Waterstones, Primark, Superdrug, Iceland etc. Southend Central train station is a short walk away, as is the pier.
The freehold interest is available at £2,000,000, i.e. 15.47 years purchase/6.46% return.
Rateable Value: -
We have verbally been informed by Southend-on-Sea Council that the rateable values are as follows.
Coral – £17,500
Cosmetics Republic – £70,000
Marks & Spencer – To be advised
Legal Costs: -
Each party to bear their own legal costs incurred.
We are advised V.A.T. will apply.
For further information or an appointment to view, kindly contact S R Wood & Son Ltd. Tel. 01582 401 221.
|Size (sq ft)||19465|
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