SHOP & 3-BED FLAT INVESTMENT - EASTWOOD ROAD, RAYLEIGH - A semi-detached property located in a highly desirable position just off the main high street in Rayleigh. OUR REF: RX------
Location
The premises is located along Eastwood Road, just off the main high street in Rayleigh. The location provides high levels of both footfall and vehicular passing trade, surrounded by a vibrant mix of big-name and independent traders including a Marks & Spencer food hall, Coral betting shop and an opticians.
Tenure
For sale freehold subject to the existing tenancies: The shop is held on a secure 14 year lease from 7th November 2018 expiring in 2032 at a current rental of £19,000 per annum exclusive. 3-Bed self-contained flat is currently rented out at £950pcm, however, we believe that market value is around £1,100 - £1,200pcm.
Semi-Detached Retail Shop
With fascia board, glazed frontage and single glazed entrance door leading into the premises which measures approximately 610 sq. ft. currently trading as a Mediterranean restaurant and is arranged as follows:
Premises
MAIN RESTAURANT AREA measuring approximately 22'10 x 16'08 = 381 sq. ft. which also includes the WC.
KITCHEN measuring approximately 9'02 x 11'00 = 102 sq. ft.
PREP ROOM measuring approximately 8'10 x 10'04 = 92 sq. ft.
STORE ROOM measuring approximately 11'10 x 2'11 = 35 sq. ft.
3-BED SELF-CONTAINED FLAT with entrance door at the rear of the building leading into stairwell to the first floor which is arranged as follows:
SHOWER ROOM measuring approximately 9'01 x 5'11 = 54 sq. ft.
BEDROOM 1 measuring approximately 10'04 x 12'00 = 125 sq. ft.
BEDROOM 2 measuring approximately 11'01 x 11'05 = 128 sq. ft.
BEDROOM 3 measuring approximately 12'02 x 6'07 = 81 sq. ft.
KITCHEN & LIVING ROOM measuring approximately 18'06 x 10'10 = 202 sq. ft.
At the rear of the property there are 3 DESIGNATED PARKING SPACES.
Business Rates
The shop is subject to a rateable value of £20,250.
Disclaimer
Whilst every care is taken to ensure that these particulars are correct, accuracy is no way guaranteed and none of the information supplied forms part of any contract. Acceptance of these particulars constitutes a contract to the effect that all negotiations for the business or property will be made through Gilbert & Rose otherwise the purchaser will be equally responsible with the vendor for damages equal to the amount of our commission.
