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296-298 London Rd 2,025 sq ft 100% Let Retail Property Westcliff On Sea SS0 7JJ £375,000 (£185.19/sq ft) 6% Net Initial Yield
Investment Highlights
- Retail (A1)
- 2427 Approx Sq Ft
Executive Summary
A freehold, double fronted, retail outlet situated on the south side of the popular London Road (A13) Westcliff. Short stay roadside parking bays are available outside the premises. The freehold consists of 2 flats above sold off on leases.
The ground floor retail unit is currently occupied on a 20 year lease producing £18,750. Plus VAT per annum. We have been informed that ground rents have not been collected in recent years for 296a & 298a London Road. 298a has 62 years remaining on their lease.
The ground floor retail unit is currently occupied on a 20 year lease producing £18,750. Plus VAT per annum. We have been informed that ground rents have not been collected in recent years for 296a & 298a London Road. 298a has 62 years remaining on their lease.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Shopfront Retail / Residential
Property Size
2,025 sq ft
Costar Property Class
C
Year Built
1930
Price
£375,000
Price per sq ft
£185.19
Yield
6%
NOI
£22,500
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
2
Plot ratio
0.90
Total Plot Size
0.05 ac
Frontage
36 ft on London Rd
Amenities
- Bus Route
- Courtyard
- Signage
- Storage Space
1 1
Nearby Major Retailers
1 of 18
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296-298 London Rd
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