191/193 High Street Southend- on - Sea Essex SS1 1LL

191/193 High Street
Southend- on - Sea
Essex
SS1 1LL

Freehold Retail and Residential Investment

Pedestrianised town centre location
Double fronted shop let to Savers Health & Beauty on a lease expiring 2025 (no breaks)
Recently converted uppers floors to comprise six self-contained flats
Close to Victoria Plaza Shopping Centre

Lot
20
Auction
18th October 2018
Rent
£127,500 per Annum Exclusive
Status
Sold
Price
£1,600,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Important Update Interested?

Expand
Photos
Map

Freehold Retail and Residential Investment

Pedestrianised town centre location
Double fronted shop let to Savers Health & Beauty on a lease expiring 2025 (no breaks)
Recently converted uppers floors to comprise six self-contained flats
Close to Victoria Plaza Shopping Centre

Lot 20
Auction 18th October 2018
Rent £127,500 per Annum Exclusive
Status Sold
Price £1,600,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 20 miles south-east of Chelmsford, 35 miles east of Central London
Roads: A13, A127, M25 (Junction 29)
Rail: Southend Central and Southend Victoria Railway Stations
Air: London Southend Airport, London Stansted Airport

Situation

Southend-on-Sea is a popular tourist destination and important commercial town located 35 miles east of Central London, 25 miles south-east of Chelmsford and 20 miles east of Brentwood. The town benefits from good communications with Southend Airport and being located on the A127, which provides direct access to the A13 and the M25 some 18 miles to the west. Southend railway station provides services to London Liverpool Street and Fenchurch Street stations. The property is located in the town centre on the pedestrianised
High Street, close to its junction with Queens Road. Occupiers close by include McDonald’s, WHSmith, William Hill, Costa, Nationwide, HSBC, Metro and JD Sports.

Tenure

Freehold.

Location

Miles: 20 miles south-east of Chelmsford, 35 miles east of Central London
Roads: A13, A127, M25 (Junction 29)
Rail: Southend Central and Southend Victoria Railway Stations
Air: London Southend Airport, London Stansted Airport

Situation

Tenure

Freehold.

Description

The property comprises a double fronted ground floor shop together with six self-contained flats above. The recently converted upper floors provide residential accommodation comprising 4 x one bedroom flats and 2 x two bedroom flats. The flats are accessed via Queens Road.

VAT

VAT is applicable to this lot.

EPC

191 - E 193 - F Flats C,C,D,D,D,D

Description

VAT

VAT is applicable to this lot.

EPC

191 - E 193 - F Flats C,C,D,D,D,D

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x.	Review
Ground Basement	Retail Ancillary	230 sq m 164 sq m	(2,476 sq ft) (1,765 sq ft)	SAVERS HEALTH AND BEAUTY LIMITED (1)	10 years from 4/11/2015 on a full repairing and insuring lease	£75,000	2020
First (A)	Residential	1 bed flat		INDIVIDUAL	AST for one year from 16/04/2018	£8,400 (2)
First (B)	Residential	1 bed flat		INDIVIDUALS	AST for one year from 09/03/2018	£7,800 (2)
First (C)	Residential	2 bed flat		INDIVIDUALS	AST for one year from 17/08/2018	£9,600 (2)
Second (D)	Residential	2 bed flat		INDIVIDUALS	AST for one year from 04/05/2018	£10,500 (2)
Second (E)	Residential	1 bed flat		INDIVIDUAL with guarantor	AST for one year from 09/03/2018	£7,800 (2)
Second (F)	Residential	1 bed flat		INDIVIDUALS	AST for one year from 16/08/2018	£8,400 (2)
Total		394 sq m	(4,421 sq ft)			£127,500

(1) Savers was founded in 1988 and currently operates over 380 stores throughout the UK, employing over 3,000 personnel (www.savers.co.uk). Savers Health and Beauty Limited is ultimately owned by CK Hutchison Holdings Limited.
(2) Rent deposit of approximately 1 month’s rent held.