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For SalePOA

CANVEY ISLAND ESSEX MIXED INVESTMENT/DEVELOPMENT OPPORTUNITY

Retail, General Retail, Retail - High Street
Property type: Retail, General Retail, Retail - High Street
Tenure: Development Opportunity, Investment Opportunity, For Sale Freehold
Price: POA
Location: 191/193 High Street, Canvey Island, SS8 7RN
Comprising the following: Corner shop let for 20 years from 2011 with an income of £9,000pa, 2-3 bedroom flat above let on an AST generating £8,400pa. Neighbouring detached 2 storey building, with 1 of the 2 flats above let with an income of £4,440pa. Planning permission has been granted for the demolition of this building and the construction of 2 new shops and 2 new 1 bedroom flats above. Comprising 2 detached buildings, the ground floor and 2-3 bedroom flat above one being let with an income of £17,400pa. The ground floor is let to Laville Limited t/a Britannia Pharmacy, whose 2016 accounts show sales of £19.54m and an operating profit of £1.33m. The flat above is let on an assured shorthold tenancy. The other building is mostly vacant with planning permission granted for its demolition and the construction of 2 retail shops and 2 x 1 bedroom flats above. One of the 2 flats above is let with an income of £4,440pa.
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