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Eastern Avenue, Southend-on-Sea, Essex SS2

LONG INCOME, INDEX LINKED FREEHOLD INVESTMENT SECURED TO A £300M COVENANT
For sale
  • Highly prominent roadside position 1.5 miles north of Southend-on-Sea town centre on a busy arterial road.
  • Let to a 100A very low risk covenant.
  • 25 years (20 years term certain) from November 2016 to IMO Anduff Car Wash Limited.
  • Total current passing rent of £54,988 pa.
  • 5 yearly higher of open market or RPI linked rent review (collar 1.5% & cap 4%) in November 2026.
  • Use class order Sui Generis.
  • Site area of 0.29 acres (0.12 ha).
  • Freehold.
  • Alternative use investment that may be suitable for SIPP.
  • We are instructed to seek offers in excess of £945,000 (Nine Hundred and Forty Five Thousand Pounds), subject to contract and exclusive of VAT. A purchase at the asking price would reflect a Net Initial Yield of 5.50%, assuming purchasers’ costs of 5.69%
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