45 Victoria Ave - Office FOR SALE


Southend On Sea, ESS SS2 6BA
$1,100,000 USD
170-296-7628
45 Victoria Ave, Southend On Sea, ESS for Sale
$1,100,000 USD
Office - FOR SALE
1/4
null | Request Cap Rate

45 Victoria Ave
Southend On Sea, ESS SS2 6BA


HIGHLIGHTS

  • Mixed Use Freehold Investment
  • Southend City Centre
  • Moderately sized car park to the rear

OVERVIEW

The freehold of the building comprising Grd & 1st Floor offices along with a vacant Café held together under a single lease of the commercial premises which will be included in the sale, plus eight upper floors containing 52 residential apartments which have been sold on long leases. To the rear of the building there is a moderately sized car park which is used by the residents and commercial occupiers. Accommodation Commercial areas are arranged to provide the following Net Internal (NIA Areas): Grd Floor Café (Vacant) 829 sq ft 77 sq ms Offices (Let to NHS) 4,300 sq ft 399 sq ms Office (Vacant) 619 sq ft 57 sq ms Storage Area (Let to A Gordon) 516 sq ft 48 sq ms 1st Floor Offices (Let to Plaza BC) 5,688 sq ft 528 sq ms TOTAL 11,952 sq ft 1,110 sq ms Occupancy Profile • NHS Trust - 10 year lease from 6 March 2019 with a tenant break option in March 2024. • Mr A Gordon - 5 year lease from October 2018. • Plaza Business Centre Ltd – 2 x 5 year leases from October 2021. • AP Wireless II (UK) Ltd – 50 year (rooftop) lease from July 2014. • 52 Self Contained Apartments with various leaseholders – 999 year leases from 1st January 2002. Income The occupied commercial parts are understood to currently produce a total rent of £134,950 pax. Once let, the vacant café and ground floor office will provide additional income. Grd rents of £100 per annum, per flat, are receivable with provision for this to be doubled every 25 years for first 99 years of the term

FOR SALE DETAILS

PRICE

$1,100,000 USD

PRICE/SF

$92 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1970

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.85 AC

LAND SF

37,212 SF

ZONING

-

APN/PARCEL ID

EX285670,EX686839,EX696341,EX697666,EX910130

ASK ABOUT THIS PROPERTY

Roy HortonDedman Gray CommercialMore Info
170-296-7628

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Roy HortonDedman Gray CommercialMore Info
170-296-7628

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.