Entirely let to Somerfield Stores Limited (rent paid by Co-operative Group Limited) until 2025 (no breaks)
Prominent position on the busy High Road (B1006)
Redevelopment potential of first floor (subject to consents)
Nearby occupiers include Greggs, Santander, Total, Lloyds Pharmacy and William Hill
Six Week Completion
Lot 30
Auction 27th March 2014
Rent £47,870 per Annum Exclusive
Status Sold
Price £664,000
Sector Supermarket/Convenience
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
35 miles east of Central London
7 miles west of Southend-on-Sea
15 miles south of Chelmsford
Roads
High Road (B1006), A13, A127, A130
Rail
Benfleet Rail Station
Air
London Southend Airport, London Stansted Airport, London City Airport
Situation
The property is prominently situated in a mainly residential area on the east side of the High Road (B1006) equidistant between its junction with Thundersley Park Road and Grove Road. The property is directly opposite South Benfleet Primary School and nearby occupiers include Greggs, Santander, Total, Lloyds Pharmacy and William Hill.
Tenure
Freehold.
Location
Miles
35 miles east of Central London
7 miles west of Southend-on-Sea
15 miles south of Chelmsford
Roads
High Road (B1006), A13, A127, A130
Rail
Benfleet Rail Station
Air
London Southend Airport, London Stansted Airport, London City Airport
Situation
The property is prominently situated in a mainly residential area on the east side of the High Road (B1006) equidistant between its junction with Thundersley Park Road and Grove Road. The property is directly opposite South Benfleet Primary School and nearby occupiers include Greggs, Santander, Total, Lloyds Pharmacy and William Hill.
Tenure
Freehold.
Description
The property comprises ground floor retail accommodation with ancillary accommodation on the first floor. The property benefits from a rear yard accessed via Thundersley Park Road.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises ground floor retail accommodation with ancillary accommodation on the first floor. The property benefits from a rear yard accessed via Thundersley Park Road.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
Ground First
Retail/Ancillary Ancillary
425.21 sq m 426.14 sq m
(4,577 sq ft) (4,587 sq ft)
SOMERFIELD STORES LIMITED (1) (rent paid by CO-OPERATIVE GROUP LIMITED)
21 years from 04/10/2004 on a full repairing and insuring lease
£47,870
03/10/2025
Totals
851.35 sq m
(9,164 sq ft) (2)
£47,870
(1) Somerfield Stores Limited are ultimately owned by the Co-operative Group Limited who are paying the rent. (2) The areas were agreed at review on a gross internal basis.
