Lot 115 Long Leasehold High Street Commercial InvestmentAuction Date:
20th September 2023
11 High Street, Southend-on-Sea, Essex, SS1 1JE
Currently let at £32,500 per annum
This ground floor commercial retail unit is located in an established pedestrianised shopping parade in Southend-on-Sea, in close proximity to Southend seafront and is among other well known trading business such as Costa Coffee and Boots chemist. Southend Central railway station is a short walking distance offering regular C2C services.
Tenancy
The unit is currently let to Betfred Bookmakers on a full repairing and insuring commercial lease for a term of 15 years from 25th March 2004.
The tenants have protection under the 1954 Act and are therefore holding over at a rental of £32,500.00 per annum. The lease provides for upwards only rent reviews in June 2009 and 2014.
Tenure
Leasehold, subject to the existing commercial lease. Remainder of a 994-year lease from 25th December 1954.
Auctioneer’s Note
At the time of publication the auctioneers have not inspected the premises internally. We understand from the seller the interior is arranged to provide an open plan sales office with high street entrance, staffing facilities with both male and female public W.C.
Viewing
External only.
There is an addendum available to be read
in conjunction with the legal documentation.
Important
All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on Auction Day.
* Price Information
Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction).
We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.
Additional Fees
An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer.
All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to Buyers Fees
