FOR SALE LONG LEASEHOLD - HIGH STREET BETTING SHOP INVESTMENT
11 HIGH STREET, SOUTHEND, ESSEX, SS1 1JE

Key Features

•  High Street Location
•  9.29% gross yield at the asking

Location

The premises is situated towards the Southern end of the High Street close to it’s junction with Pier Hill/Royal Terrace. Southend Central Station is 0.2 miles/5 minutes walk to the North of the demise. Notable occupiers nearby include the British Heart Foundation, Toni & Guy, and Boots Chemist.

Accommodation

Ground floor retail unit occupied by Betfred, arranged predominantly open plan with sales area, staff facilities and male and female public WC’s. Access is by virtue a front entrance on High Street albeit there is also a fire exit to the rear of the premises providing means of escape onto the side elevation on Richmond Avenue. Area is as follows from the Valuation Office Agency (VOA):

Total

1,277 sq.ft ( 118.64 m2  )

Lease Terms

The ground floor is let to Betfred on a Full Repairing and Insuring (FRI) Lease for a term of 15 years from 25th March 2004. The Tenants have protection under the 1954 Act and are therefore holding over at a rental of £32,500.00 p.ax. The lease provides for upwards only rent reviews in June 2009 and 2014.

The long leasehold interest is for a term of 994 years from 25th December 1954.

Price

Rates

2023 Rateable Value

£25,250

Energy Performance Asset Rating

EPC Awaited

A+
A
B
C
D
E
F
G

VAT

VAT is not applicable in respect of this transaction.

Service Charge

A service charge may be applicable in respect of this transaction. Further details are available on request.

Legal Costs

Each party to bear their own legal fees.

Viewing

Strictly by prior appointment with sole letting agents Taylor Freeman Kataria.

Contact:

Ravi Kataria
Ravi@cliffords-estates.co.uk

Rajiv Kataria
Rajiv@cliffords-estates.co.uk