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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 parking space, producing an income of £50,400pa. Potential for further income via currently vacant land of some £18,000pa. 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 a detached building with a Cafe and upper parts, and adjoining land used as a Hand Car Wash, with car parking space to the rear. The plot, using Promap measurements, extends to approx. 2 acres. Part of the land between the carwash & the parking space let to Swallow Aquatics has been let in the past and produced a rental income of £18,000pa. It is reasonable to assume that this could be re-let thus increasing the rental income.

Features    Plot Extending To Some 2 Acres
On The Busy London Road
Rental Income £50,400 Per Annum
Development Potential STP
Mixed Commercial Investment
Cafe & Car Wash 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 £19,200 per annum payable monthly in advance. Rent reviews September 2016, 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).
Unit 5 (Car Park): Granted from 20th April 2013 until 19th April 2018 to Swallow Aquatics. Rental income £6,000 per annum. Both landlord and tenant are able to determine the lease on one month's notice.

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