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

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%.

For access to dataroom please click here