Southend-on-Sea, Essex

£1,945,000

BrochureMap
Property type
Development / Development Potential / Investment
Tenure
For Sale
Size
19,465 sq ft
Price
£1,945,000
Business Rates
Upon enquiry
Energy Performance Rating
Upon enquiry
Fantastic Development Opportunity. Possibility to capitalise on development angle in the medium term and to achieve great added value.

Key Features

19,465 sq. ft. with good rental income from strong covenant tenants.

A fantastic opportunity to redevelop this prime site. 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 (Wendy's) and first and second floors (Marks & Spencer). Freehold & VAT elected.

See the CGI showing the substantial development possible subject to planning and vacant possession. The landlord has reserved access rights to the upper parts from the High Street.

Accommodation & Tenants:

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

Wendy’s – 15 years w/ break at year 10, at £80,000 pa.
Recently invested £600,000 into their fit-out.
Ground (Sales) : 4,110 sq ft
LGround(Ancillary) : 1975 sq ft
Total NIA : 6,085 sq ft

Coral Estates Ltd - Exiting 27/09/2024. Unit is available to let, marketed at £24,000 pa.
Lower Ground (Sales) : 1649 sq ft Ground (Entrance) : 173 sq ft
Total NIA : 1,882 sq ft

Location
Southend-on-Sea is a popular seaside city, and one of the major commercial centres in Essex, England. The city is located 42 miles east of Central London and is home to the longest pleasure pier in the world, Southend Pier. 66-68 High Street benefits from a prominent position in the semi-pedestrianised area.

The property benefits from proximity to a variety of national and independent retailers and boutiques along the High Street and within The Royals Shopping Centre, including Clarks, Primark, H&M, Greggs, Boots & Superdrug. There are also a diverse mix of bars, restaurants & cafes, and the property is just a short walk from Southend Seaside.

66-68 High Street, benefits from excellent transport links, with nearby access to the A13 and M25, Southend Central (c2c), and Southend Victoria (Greater Anglia) stations.

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