Development Opportunity Adjacent to Marks & Spencer, Primark and Seaside. Current rental income of £129,250 p.a.

Development Opportunity Adjacent to Marks & Spencer, Primark and Seaside. Current rental income of £129,250 p.a.
£1,950,000FreeholdSouthend on Sea SS1 1JF
20th May 2021

Description

Description of building: A fantastic opportunity to redevelop this prime site. Computer Generated Image below shows potential redevelopment stp. The property comprises a large four storey building totalling 19,465 gross sq ft (1,808 sq m). Floor plans and CAD available. The property is arranged to provide well configured retail sales accommodation at basement (Coral), ground floor (Crazy Cave) and first and second floors (Marks & Spencer). Freehold & VAT elected.

Accommodation & Tenant:

Marks & Spencer PLC – 45 years at £34,000 pa from 01/03/1982.
First (Sales) : 4,661 sq ft / 433 sq m
Second (Ancillary) : 4,675 sq ft / 434.3 sq m
Total NIA: 9,336 sq ft / 867.3 sq m

Crazy Cave – 5 years at £60,000 pa from 02/03/2021. 
Ground (Sales) : 4,110 sq ft / 381.8 sq m
Lower Ground(Ancillary) : 1975 sq ft / 1836.4 sq m
Total NIA : 6,085 sq ft / 565.3 sq m

Coral Estates Ltd – 15 years at £35,250 pa from 26/02/2006.
Lower Ground (Sales) : 1649 sq ft / 153.1 sq m
Ground (Entrance) : 173 sq ft / 16 sq m
Total NIA : 1,882 sq ft / 169.3 sq m

Location : Southend-on-Sea is a popular seaside town, and one of the major commercial centres in Essex, England. The town is located 42 miles east of Central London. The town features two main railway stations  and a international airport.  
Southend comprises of a long pedestrianised High Street, flagged on the North & South ends by large shopping centres; The Royals Shopping Centre & Victoria Plaza Shopping Centre.  

The scheme is located on the semi pedestrianised High Street, close to Southend Central Station & the The Royals Shopping Centre – nearby retailers include; Primark, H&M, Greggs, Boots, Superdrug & the Seaside.

66-68 High St, Southend-on-Sea SS1 1JF, UK