2-12 West Street, Rochford, Essex, SS4 1AJ
A SUBSTANTIAL FREEHOLD MIXED USE RETAIL AND OFFICE INVESTMENT PROPERTY CURRENTLY PRODUCING £67,115 PER ANNUM WITH POTENTIAL TO GENERATE CIRCA £71,615 WHEN FULLY LET
Thursday, 8th April 2021 12:00pm
Situated in this prominent position on West Street in Rochford Town Centre. Rochford is a traditional market town with many fine historic buildings and is situated approximately one mile from London Southend Airport and three miles north of Southend. Rochford Train Station offers routes into London Liverpool Street and is situated a few minutes' walk from the property. There is public parking offered in Rochford Square and also pay and display car parks nearby.
The property comprises and unbroken freehold block arranged over ground and one upper floor.
The properties to the ground floor are currently used as retail, with occupiers including Londis (whose demise includes a first floor office), Greggs and the RSPCA.
The upper floors are arranged as various self contained office suites.
The property is fully let save for one of the office suites and produces an income of £67,115 per annum. The vacant office suite has an estimated rental value in the region of £4,500 per annum.
It is considered that the property, being located in such a prominent position on the main town square of Rochford and having the benefit of being an unbroken block, may be suitable for redevelopment at some future stage (subject to obtaining any necessary consents).
Auction Surveyor: Andrew Brown
Contact: 0208 5094470
Prospective purchasers should note that floor areas are approximate only and have been compiled utilising data from the VOA and the EPC Register and should not be relied upon.
There is a cash machine located within the demise of unit 2/4. This was dealt with by way of a separate licence payment of £1,200 per annum. Upon the assignment of the lease from the previous tenant, this agreement fell away. a possible new license/arrangement for the benefit of the cash machine is being discussed with the tenant of unit 2/4.
|Unit||Use||Floor||Net Internal Area||Tenant||Lease Start||Break||Next Rent Review||Lease Expiry||Rent|
|2/4||Retail||Ground||194.6 Sq M||Anomila Richard||22/06/2016||N/A||22/06/2021||21/06/2026||£20,500|
|6||Retail||Ground||35 Sq M||RSPCA Essex||25/03/2014||N/A||25/03/2019||24/03/2024||£8,000|
|8||Retail||Ground||36 Sq M||Nayime Ercaliskan||24/06/2014||N/A||25/03/2019||23/06/2024||£7,500|
|Ground Floor No 10||Retail||Ground||31.6 Sq M||Lynn Peacher||25/03/2015||N/A||25/03/2020||24/03/2025||£7,250|
|Ground Floor No 12||Retail||Ground||68.87 Sq M||Greggs Plc||25/03/2015||N/A||N/A||24/03/2025||£9,850|
|Suite 1 & Upper Rooms 2&3||Offices||First||56.2 Sq M||BLW Insurance Brokers Ltd||22/12/2020||22/12/2023||N/A||21/12/2025||£9,615|
|Upper Rooms 6||Offices||First||29.8 Sq M||Vacant||N/A||N/A||N/A||N/A||N/A|
|Suite 4 1st Floor||Offices||First||18.8 Sq M||Prittlewell Consulting Ltd||26/09/2019||N/A||N/A||25/09/2024||£2,200|
|Suite 5 1st Floor||Offices||First||18.8 Sq M||Prittlewell Consulting Ltd||26/09/2019||N/A||N/A||25/09/2024||£2,200|