An opportunity to purchase a freehold mixed-use property in a prominent location in Essex.
The ground floor consists of 3 commercial units which are tenanted by Ladbrokes, a nail bar and Pizza Gogo. The commercial units collectively bring £64,500 per annum as income.
In addition, the first floor has 3 x 2 bedroom flats which rent for £950,00 per calendar month each, however one flat is currently vacant. The flats have separate laundry rooms and storage facilities on the first floor.
This property overall currently generates £87,300 per annum however the ERV would be £98,700 per annum.
We believe the property may have further development potential by going up another story however would we encourage all parties to conduct their own feasibility and research.
Location
Situated in a prime corner location.
Accommodation
Size - 5,135 sq ft (477 sq m)
Terms
Tenure - Freehold
Price - £1,300,000
VAT - Applicable
EPC Rating - C/E/F