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For Sale£400,000.00

Shop 83-87 West Road, Shoeburyness SS3 9DT

Retail - High Street, Retail , 3309 Sq Ft
Property type: Retail - High Street, Retail
Tenure: Investment Opportunity
Size: 3309 Sq Ft
Price: £400,000.00
Location: Shop, 83-87 West Road, Shoeburyness, SS3 9DT
Location:
Situated within a heavily populated residential area, within walking distance to the seafront and Shoeburyness Train Station (C2C) is this two storey property. Comprising of ground floor shop, first floor store and 2 bedroom self-contained flat.

Description:
The premises is situated in the middle of the parade with powder coated aluminium glazed frontage, fascia board etc. Internally, the shop being extremely well maintained with access to first floor via the stairs or goods lift, recently fitted by Co-Op. Excellent access to the rear which provides parking for the ground floor shop and staircase to the first floor flat.

ACCOMMODATION:

Main Sales Area - 2,237 sq ft (207 sq m)
Office - 85 sq ft (8 sq m)
Kitchen - 80 sq ft (7.458 sq m)

First Floor Store - 907 sq ft (84 sq m) plus small kitchen and 2 WC’s.

Self-contained 2 bedroom flat which is accessed from the rear. Comprising of:-

Lounge - 5.198 x 4.408 m
Kitchen - 3.686 x 2.337 m
Bedroom - 3.734 x 3.977 m
Bedroom - 3.788 x 3.387 m
Bathroom - 3.770 x 2.044 m

TENANTS AND LEASE TERMS

The property is let to Chelmsford Star Co-Operative Society Limited (Company Number IP00973R).
The company trades from this unit as a convenience store/off license.
Chelmsford Star Co-Operative have multiple sites in the Essex area. The lease on the ground floor shop and first floor store is for a term of 20 years from 17th September 2001.
The current rent is £19,000 per annum exclusive.

The self-contained 2 bedroom flat was let on a 6 month AST (which has now expired) at a current rent of £600 pcm. The landlord has never reviewed the rent as the tenant has been there for approximately 10 years. She has always paid her rent on time. Should the flat become vacant then the new owner may want to consider refurbishment in order to maximise their return.

NOTE:
Interested parties must make their own enquiries but the current passing rent falls below the open market rental value making this investment highly reversionary.

GUIDE PRICE:

£400,000 Freehold plus VAT (if applicable)

Due to the amount of interest in the sale of the property, our client has asked us to seek best offers by Midday Thursday 10th May 2018.

Please send all offers with supporting documents to:

Ayers & Cruiks
86-88 Baxter Avenue
Southend on Sea
Essex SS2 6HZ

Please confirm and include the following:
- Full name and address of purchaser
- Timetable to exchange and completion
- Name and address of solicitors
- Cash/mortgage purchase with full proof of funds/agreement in principle
- Any conditions attached to your bid
- Two certified forms of ID (one evidence of name and one evidence of address)

Please note: If ID is not submitted with your offer we will be unable to accept it as a formal offer due to Anti-money laundering regulations.
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