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Lot 74/76 Broadway, Leigh-on-Sea SS9 1AE

For sale: £1,200,000.00|4,089 Sq Ft|Office, Offices

Property details

FOR SALE£1,200,000.00
SIZE4,089 Sq Ft
ADDRESSLot, 74/76 Broadway, Leigh-on-Sea, SS9 1AE
TYPEOffice, Offices
TENUREInvestment Opportunity
POSTED ON9th October 2021

Description

DESCRIPTION AND LOCATION:
This prominent mixed use building was developed
by our client in the late 80’s for their own office use
and creating two commercial units at ground floor
level.
Located on the southern side of Leigh Broadway
between Avenue Road and Ashleigh Drive.
The occupier of the first and second floor offices will
be vacating so this section of the building is to be
sold with vacant possession.
The ground floor has a central glazed entrance
leading to the upper floor offices with retail units
either side.
The retail units are let on leases with Unit 74 expiring
July 2026 and Unit 76 in December 2028 (leases are
available).
Car parking for six vehicles is accessed via Avenue
Road.
Our clients obtained consent under Prior Approval
to convert the upper floors into 6 one bedroom flats
Planning reference - 21/00341/PA3COU

PLANNING PERMISSION
Our clients received planning permission under Prior
Approval on the 12th April 2021 to convert upper
floors to 6 x 1 bed flats, as is common this remains
live for three years from the date it was granted.
Ref: 21/00341/PA3COU

ACCOMMODATION
Ground floor
Shop 74
Total approx. size - 675 sq. ft. (63 sq. m.)
Let to Yongmei Li on an FRI lease from 31st July 2017 expiring 30th July
2026.
Rent review 31st July 2023
Current rent - £17,500 pax
Shop 76
Total approx. size - 696 sq. ft. (65 sq. m.)
Let to Utopia Limited on an FRI lease from the 25th December 2019
expiring 24th December 2028.
The rent increase to £17,500 pax from 25th December 2021 and then a
review on 25th December 2022 and 25th December 2025 and the last
day of the contractual term.
Current rent - £16,000 pax
There is a Tenant’s break clause on the 24th December 2023 on serving at
least six months prior notice
First & Second floors
Access from Leigh Broadway via a glazed entrance between the shops.
Architecturally designed feature spiral staircase.
First Floor
Total approx. area - 1,338 sq. ft. (124 sq. m.)
Second Floor
Total approx. area - 1,380 sq.ft. (128 sq. m.)
Purpose built offices with 4 offices, kitchen, comms room and staff welfare
room to first floor and 2 open plan offices and 6 separate offices to the
second floor with a stunning estuary views. The offices have a rear
entrance/exit leading directly to the private car park for 6 vehicles.

PRICE
Offers in excess of £1,200,000 Freehold
Subject to existing leases at ground floor and
vacant possession of upper floors

LEGAL COSTS
Each party to bear their own legal costs
VIEWING
Strictly by prior appointment via vendor’s sole
appointed agents:
Ayers & Cruiks 01702 343060

Location

marker
Location: Lot, 74/76 Broadway, Leigh-on-Sea, SS9 1AE

Chalkwell (0.5 miles)

Leigh-on-Sea (0.8 miles)

Westcliff (1.5 miles)

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