The property comprises a ground floor leisure unit with planning for 9 residential flats above.
□ The commercial unit is let to Turtle Bay Restaurants Limited for a term of 20 years expiring May 2039 with no breaks.
□ Southend is an affluent commuter town with excellent links to London Liverpool Street and London Fenchurch Street.
□ TurtleBay has a passing rent of £113,500 per annum.
□ The property is centrally located, less than 0.3 miles from both Southend Central and Southend Victoria train stations.
□ We are instructed to seek offers in excess of £1,900,000 (One Million, Nine Hundred Thousand Pounds) subject to contract and exclusive of VAT, which reflects a NIY of 6.5% for the leisure unit and £79 psf for the existing vacant first floor space.