A FREEHOLD COMMERCIAL INVESTMENT comprising a shop with a two bedroom flat above producing a gross yield of 8.5% (if purchased at guide price).
An end terraced shop currently trading as a charity shop together with a two bedroom flat above, situated on a parade of shops in the popular village of Rochford, approximately 4 miles from Southend on Sea.
ACCOMMODATION - GROUND FLOOR
Shop Area - 19'6 x 19'4 (5.94m x 5.89m) Rear Storage Room - 10'5 x 8'6 (3.18m x 2.59m) Small Kitchen & W.C. Yard to rear with shed/garage and parking space
FIRST FLOOR FLAT
Entrance Hall Bedroom 1 - 12'2 x 8'5 (3.71m x 2.57m) Bedroom 2 - 10' x 8'3 (3.12m x 2.51m) Lounge - 17'9 x 10'7 (5.41m x 3.23m) Kitchen - 9' x 7'4" (2.74m x 2.24m) Bathroom/WC - 6'8" x 5'3" (2.03m x 1.60m)
Freehold. The shop is subject to a periodic lease but was originally let on a 3 year lease from 1st July 2013. The current rent is £1,250 per quarter (£5,000 p.a) The flat is let on an Assured Shorthold Tenancy for a term of 1 year from 23rd July 2012. The current rent payable is £650 pcm. (£7,800 p.a)
By appointment with the Auctioneers and at the courtesy of the tenants, Tel: 01702 333399
Energy Efficiency Rating (EPC)
Current Rating Flat D. Shop TBC
Rochford District Council
Buyer's Premium - £1800 inc VAT payable on exchange of contracts.
Administration Charge - £720 inc VAT payable on exchange of contracts.
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.