A modern new built property consisting of a retail unit trading as fast food takeaway and 3 self-contained flats accessed from an independent street entrance.
Location
Situated along London Road, which is one of the main thoroughfares running through Leigh-on-Sea, nearby retailers include Waitrose, Sainsburys and a variety of other successful businesses.
Leigh-on-Sea is a charming coastal town situated along the Thames Estuary, known for its picturesque old town, sandy beaches, and vibrant arts scene. It's part of the larger Borough of Southend-on-Sea.
Accommodation
Takeaway Unit
Shop 258.33 sq ft (24 sq m)
Prep Area 185.35 sq ft (17.22 sq m)
Rear Store 130.67 sq ft (12.14 sq m)
Covered Stores 206.68 sq ft (19.2 sq m)
Studio with shower & WC 172.22 sq ft (16 sq m)
Total Combined Area 953.25 sq ft (88.56 sq m)
Upper Flats
Flat 1 (1st floor front) 409 sq ft Integral Kitchen/Diner, Bedroom, Bathroom
Flat 2 (1st floor rear) 494 sq ft Integral Kitchen/Diner, Bedroom, Bathroom
Flat 3 (top floor) 702 sq ft Kitchen, Lounge, Bedroom, Bathroom
Plans available upon request
Terms
Tenure: Freehold
Tenant information:
Takeaway Unit Presently Holding over at £7,200 pax (ERV £15,000 pax)
Flat 1 (1 Bed) £10,800 pa periodic tenancy
Flat 2 (1 Bed) £10,800 pa periodic tenancy
Flat 3 (1 Bed) £10,800 pa periodic tenancy
Total Income £40,500 pax (ERV £48,300 pax)
Our Opinion on Capital Value of each Part:
Commercial at £7,200 pax @ 7% NIY = £100,000
Commercial at £15,000 pax @ 7% NIY = £210,000
Flat 1 – 409 ft2 £200,000
Flat 2 – 494 ft2 £200,000
Flat 3 – 702 ft2 £225,000
Purchase Price: Guiding at £675,000 subject to contract.
Legal Costs: Each party to pay for their own legal fees
Anti-Money Laundering: Due to recent changes in the Anti Money Laundering regulation, it is now standard procedure to undertake a Personal and Company and general AML checks, admin cost of £350 + VAT.
Specification
- Prominent Location
- Affluent Leigh on Sea
- Individually Rented
- Takeaway Holding over
- 3 Flats on AST’s
- Attractive Investment
- Suit Owner Occupier or Investor