Prominent High Street Retail Block Let to Marks & Spencer, Coral & Ponden Home at £149,250 pa.

Prominent High Street Retail Block Let to Marks & Spencer, Coral & Ponden Home at £149,250 pa.
£2,195,000FreeholdSouthend on Sea SS1 1JF
28th April 2016

Description

Description of building: The subject property comprises a large, three storey building totalling circa 17,342 sq ft (1,611.1 sqm). The property is arranged to provide well configured retail sales accommodation at basement (Coral), ground floor (Ponden) and first and second floors (Marks & Spencer). Marks & Spencer occupy a fully fitted restaurant on the upper levels. 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

NEW LEASE: Duvetco Ltd (Trading as Ponden) – 5 years at £80,000 pa from 02/10/2017. 
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 & Patisserie Valerie.

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