An attractive investment opportunity comprising a fully let ground-floor retail shop and a self-contained two-bedroom maisonette above. The ground-floor commercial unit is currently occupied by Natural Balance Chinese Medicine, arranged as individual treatment rooms, and the residential maisonette offers spacious accommodation providing reliable residential income with strong demand.
Location
The property is prominently situated within a thriving parade along St Mary's Lane, Upminster, Essex RM14 3BL, offering strong visibility, steady footfall, and close proximity to national retailers, eateries, and local amenities, serving an affluent residential catchment area. It is a well-established and desirable area for both commercial occupiers and private renters. Upminster Station (District Line & c2c services) is within comfortable walking distance, providing quick and convenient access to Central London. Excellent road links include easy connections to the A127 and M25 motorway.
Accommodation
Ground Floor Shop - 109.46 m² (1,178.26 ft²) approximate internal areas)
First Floor Maisonette - 61.2 m² (658.73 ft²) approximate internal areas)
Total - 170.66 m² (1,836.99 ft²)
Terms
Tenancy Details:
Ground Floor Shop (165 St Mary's Lane)
- Tenant: Natural Balance Chinese Medicine
- Area: 109.46 m² (1,178.26 ft²) (approximate internal areas)
- Lease: 6-year lease from April 2023
- Tenant Break Option: April 2027
- Rent: £23,000 per annum exclusive (rising to £24,000 pax if break is not exercised)
First Floor Maisonette (165a St Mary's Lane):
- The self-contained maisonette provides a well-laid out living space, including 2 bedrooms, a spacious lounge, fitted kitchen and modern bathroom.
- Area: 61.2 m² (658.73 ft²) (approximate internal areas)
- Lounge: 17.45 m² (187.78 ft²)
- Kitchen: 15.42 m² (165.95 ft²)
- Bedroom 1: 12.51 m² (134.67 ft²)
- Bedroom 2: 10.68 m² (114.95 ft²)
- Bathroom: 5.15 m² (55.39 ft²)
- Tenancy: Assured Shorthold Tenancy (AST) yearly
- Rent: £1,350 pcm (£16,200 pa) gross (Landlord currently receives £1,166 pcm net after management fees)
Total Current Income - Combined Gross Income: £39,200 pax
Guide Price - Seeking offers in the region of £548,500, subject to contract (the property offers an attractive gross initial yield of 7.15%).
EPC Rating:
Shop – Energy Rating E
Flat – Energy Rating E
Certificates available upon request
Legal Costs - Each party to pay for their own legal fees
Anti-Money Laundering - In accordance with current Anti-Money Laundering (AML) regulations, all purchasers will be required to undergo personal, company, and general AML checks. An administration charge of £350 + VAT will apply.
Holding Deposit - Tenants wishing to secure this property may be required to pay a holding deposit to Countrywide Commercial of £3000. This deposit is not refundable except if the vendor withdraws, clear title cannot be proven or the tenant’s references, AML, and Credit checks are not acceptable to the landlord. This deposit is held in our client’s account until completion.
Specification
- Fully Let Freehold Investment
- Ground-Floor Shop & 2-Bed Maisonette
- Combined Rent: £39,200 pax
- Asking Price: £548,500
- Attractive Gross Yield: 7.15%
- Prominent Upminster Location