66-68 High Street

Southend

Ref: 6533

PROPERTY

66-68 High Street
Southend
Essex, SS1 1JF

DETAILS

Totalling 17.342 sq ft/1,611.10 sq m, mid terraced and pavement lined, built over basement, ground, first and second floor levels. Basement 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. Ground Floor Let to Duvetco Ltd T/A Pond . . .

Totalling 17.342 sq ft/1,611.10 sq m, mid terraced and pavement lined, built over basement, ground, first and second floor levels.

Basement
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.

Ground Floor
Let to Duvetco Ltd T/A Ponden Home (part of the Edinburgh Woollen Mill group of companies) upon a 5 year lease from 02.10.17 at £80,000 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.

These floors provide restaurant facility and ancillary to the neighbouring property/Marks & Spencer store.

Total rental income – £149,250 per annum exclusive.

Location: -

The premises are prominently located within Southend town centre, close to McDonald’s, Lloyds Bank, Waterstones, Primark, Superdrug, Iceland, Monsoon etc. Southend Central train station is a short walk away, as is the pier.

Terms: -

The freehold interest is available at £2,195,000, i.e. 14.7 years purchase/6.8% return.

Rateable Value: -

We have verbally been informed by Southend-on-Sea Council that the rateable values are as follows.
Coral – £17,500
Ponden Home – £70,000
Marks & Spencer – To be advised

Legal Costs: -

Each party to bear their own legal costs incurred.

VAT: -

We are advised V.A.T. will apply.

Viewing: -

For further information or an appointment to view, kindly contact S R Wood & Son Ltd. Tel. 01582 401 221.

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STATS

Use Investment
Availability For sale
Sale price £2195000
Annual rental -
Size (sq ft) 17342
Features

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