RETAIL SHOP & 2 FLATS INVESTMENT FOR SALE - LONDON ROAD, WESTCLIFF-ON-SEA, SS0 7BX. Three storey end of terraced property. REF: V6571E RX------
Tenure
For sale freehold subject to the following tenancies:
The shop is let upon a 15 year lease from 3 June 2017, at a current rental of £10,250 per annum, subject to 3-yearly upwardly only rent reviews with the next review due 3 June 2023. The lease allows for a tenant-only break clause 3 June 2027.
The first-floor flat is let upon an assured shorthold tenancy (holding over) at a rental of £700 per month.
The second floor studio flat is let upon an assured shorthold tenancy (holding over) at a rental of £490 per month.
TOTAL CURRENT RENTAL INCOME £24,530 PER ANNUM.
Premises
An end of terrace 3-storey property comprising of a retail shop, 2 bedroom first-floor flat and a 1 bedroom second floor studio flat.
The accommodation is arranged as follows:
Retail Shop
With single-glazed frontage. INTERNAL FLOOR AREA approx. 651 sq. ft. (60.5 sq. m).
Parking
4 PARKING SPACES accessed via a service road Hamlet Court Road. 2 spaces allocated to the shop and 1 space for each flat.
Flat A (First Floor)
Flat A (FIRST FLOOR)
Wooden entrance door into:-
HALLWAY - Fitted carpet, skirting, wall-mounted radiator x 2, wall-mounted thermostat, light textured ceiling, doors to:-
LOUNGE 15'4 X 10'6 opening to 14'5 - Fitted carpet, skirting, wooden fireplace (covered and unused), 2 x wall mounted radiators, UPVC windows to front, UPVC doors, light textured ceiling.
KITCHEN 12'9 x 5'2 - Vinyl flooring, skirting, wall mounted radiator, eye and base level wooden units and drawers with roll top work surface, stainless steel sink unit with mixer tap, wall mounted boiler, tiled splash backs, space for oven, UPVC windows to side and rear, wall mounted extractor fan, light textured ceiling.
BATHROOM - Vinyl flooring, low level WC, wash hand basin with pedestal and tiled splash back, bidet, corner shower unit with aqua panelled walls, electric shower and raiser rail, glazed shower door, wall mounted radiator, light textured ceiling, UPVC window to side
Flat A Bedrooms (First Floor)
BEDROOM ONE 10'7 x 10'8
Fitted carpet, skirting, wall mounted radiator, UPVC windows to rear, ceiling tiles
BEDROOM TWO 8'8 x 7'6
Fitted carpet, skirting, wall mounted radiator, UPVC window to side, light textured ceiling
Flat B (Second Floor)
Entrance via wooden door into
STAIRWAY & LANDING - Fitted carpet, skirting, wall mounted electric heater, Velux window to rear, doors to:-
BEDROOM/LOUNGE 14'2 x 11'1 opening to 13' - Fitted carpet, skirting, wall mounted electric heater, UPVC windows to front, fireplace (boarded over), ceiling tiles
KITCHEN/DINER 12'3 X 8'1 - Vinyl flooring, skirting, wall mounted electric heater, UPVC window to rear, fitted work surface and wooden cupboards, inset stainless steel sink unit with mixer tap, light textured ceiling
SHOWER ROOM
Vinyl flooring, low level WC, sink unit with pedestal, aqua boarded shower cubicle with mixer bar and raiser rail, glazed shower door.
Agents' Notes
AGENTS NOTE 1:- Subject to building regulations and consent, we believe there is potential to change the studio flat into a one bedroom flat by changing the bedroom/lounge into a kitchen/lounge and converting the kitchen into a bedroom which could produce a higher rental income.
AGENTS NOTE 2:- We understand Flat A is subject to a council advisory notice to upgrade the property.
Location
The property is situated on the north side of the London Road (A13) between the junctions of Hamlet Court Road and Richmond Avenue.
