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Southend-on-Sea – Freehold Retail & Residential Investment Opportunity

18-22 Southchurch Road, Southend-on-Sea, SS1 2NE

Offers in excess of £3,900,000

Property Types:
Commercial, Mixed, Residential
Sub Type:
Retail

Income

£259,966 p.a

Description

  • The property comprises two retail units with 16 newly built flats above, which are being finished to an excellent standard
  • The majority of the commercial income derives from The Restaurant Group plc until 2031 (TOB 2022) which is trading as Frankie and Benny’s
  • The property is centrally located, less than 0.3 miles from both Southend Central and Southend Victoria train stations
  • Southend is an affluent commuter town with excellent links to London Liverpool Street and London Fenchurch Street.
  • The practical completion for the flats is June 2018 and the vendor will guarantee a rent of £185,640 p.a. for the residential element for one calendar year
  • Total rent passing (including guarantee) of £259,966 p.a.
  • Freehold

We are instructed to seek offers in excess of £3,900,000 (Three Million Nine Hundred Thousand Pounds) subject to contract and exclusive of VAT, which reflects an overall gross yield of 6.67%.

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