565-569 (Odd Numbers) London Road, Westcliff-on-Sea, Essex, SS0 9PQ
9 FLATS & 1 COMMERCIAL UNIT
Guide price: £40,000 - £45,000*
Monday, 25th March 2019 11:00am
Location & Description
A modern purpose-built development comprising 9 self-contained flats and a ground floor commercial unit on the north side of the A13 London Road which links with Southend town centre to the east and is about a mile from Westcliff mainline station and the seafront.
Each flat is sold on a 125 year lease from 01.01.2017 at a current ground rent of £250 p.a. reviewable every 10 years to a minimum of a 35% increase (except one flat at 30%) or based on RPI (whichever the greater) - refer to leases.
The commercial unit is sold on a 125 year lease from 01.01.2018 at a current ground rent of £250 p.a. reviewable every 10 years to a minimum of a 35% increase or based on RPI (whichever the greater) - refer to lease.
VAT payable on commercial element only
EQUIVALENT TO £2,500 p.a.