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The property comprises a high yielding retail investment occupying a prominent pedestrianised pitch.
Arranged across ground and two upper floors, the property is fully let to Boots, long-standing tenants of 15+ years, on a recently renewed five year lease expiring 18.09.2030 and paying £28,570 per annum
We understand the tenant does not utilise the upper floors, and therefore we consider there may be conversion/development potential to the upper parts (subject to the existing lease and any requisite consents).
The property occupies a prominent pitch fronting Pier Avenue, the principal and partically pedestrianised retail street within Clacton on Sea. The surrounding area is characterised by national retailers including McDonalds, Costa and New Look.
Tenure
Freehold
Tenancy
The property is let to Boots Opticians Professional Services Limited on a recently renewed five year lease expiring 18.09.2030 and paying £28,570 per annum.
The lease is on full repairing and insuring terms and includes a tenants break option in the third year.
Boots Opticians Professional Services Limited
Rent
Notes
We understand the property is elected for VAT.