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Property Details:

FOR SALE, RAYLEIGH ESSEX MIXED COMMERCIAL INVESTMENT. LAND APPROX. 2 ACRES

Price: £1,400,000

Contact us for more information or arrange a viewing:

Tel: 01702 311111 · Email: commercial@dedmangray.co.uk

Property Description

A mixed Commercial Investment opportunity on a plot of land of approx. 2 acres. The investment content comprises a detached building housing a ground floor Cafe with residential upper parts, a Car Wash and Car Sales site, producing an income of £87,600pa. The leases are determinable with 3 month's notice, providing vacant possession and the potential for development subject to planning. We believe there is development potential, subject to planning, for a variety of schemes.

Property    The properties comprise the following: A detached building housing a ground floor Cafe with residential upper parts, and adjoining land used as a Hand Car Wash & Car Sales site. The plot, using Promap measurements, extends to approx. 2 acres.

Features    Plot Extending To Some 2 Acres
On The Busy London Road
Rental Income £87,600 Per Annum
Development Potential STP
Mixed Commercial Investment
Cafe, Car Wash & Sales Premises

Tenure    Freehold, subject to the tenancies referred to below.

Leases    Cafe & Premises: Granted for 10 years from 1st March 2014. Rental income £18,000 per annum payable monthly in advance. Rent reviews September 2016, March 2019 and September 2022. The renewal provisions (sections 24-28 inclusive) have been excluded. The lease provides for the landlord to determine the lease on the 1st March 2016, and annually thereafter, with 3 month's notice.
Car Wash & Premises: Granted for 10 years from 1st September. Rental income £34,800 per annum payable monthly in advance. Rent reviews September 2019 and 2022. The renewal provisions (sections 24-28 inclusive) have been excluded. The lease provides for the landlord to determine the lease on the 1st September 2016, and annually thereafter, with 3 month's notice.
Flat Above Cafe: Let under a Tenancy Agreement for a fixed term of 5 years from 1st February 2015 at a rent of £7,200 pa (£600 per month).
Car Sales Site: Let on a year-by-year basis producing a rental income of £27,600 pa (£2,300 per month).

Business Rates    We have been able to locate two rating assessments, £7,100 in respect of the Brookside Cafe and Premises, and £10,000 in respect of the Hand Car Wash and Premises. Interested parties should check with the local Business Rates Department to verify the liabilities.

Legal Fees    Each party is to be responsible for their own legal fees.


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Contact us for more information or arrange a viewing:

Email: commercial@dedmangray.co.uk
Tel: 01702 311111

Or Make Enquiry