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    Key features

    • Investment let at £10,480 p.a.
    • Comprising of 3 Ground retail units and 1 self contained flat
    • 1 commercial unit investment let at £9,360 p.a.
    • 2 commercial units held on reversionary lease and self contained flat to be retained on a long leasehold interest
    • Future development potential to add an additional floor over the No 39 or convert into residential use (subject to the requisite consents and existing lease)
    • Car park at the rear of the property included in the sale.
    • The tenant of No 39 has been trading on the site for over 20 years.
    • No VAT

    Description

    The property comprises of 3 retail units and a self contained flat on the upper floor. There is also a car park to the rear of the property. No 37 unit 1 & 2 Ground floor shops are held on reversionary leases ( approx. 65 years unexpired). Upper floor flat to be retained on a new 999 year lease on completion.

    Additional information

    Tenure

    Freehold

    37 unit 1 99 years from 15th November 1989 (an approx. 65 years remaining) - Ground rent £120 p.a. (doubling every 33 years)

    37 unit 2 99 years from 15th November 1989 (an approx. 65 years remaining) - Ground rent £1,000 p.a.

    Upper floors to be retained on a new 999 year lease on completion


    Accommodation

    Please note that the property has not been inspected by Savills


    37 (unit 1 & 2) Kingsland Road - Retail unit

    39 Kingsland road - Single storey Shop Unit operating as a Fishmonger, with WC externally within separate block to the rear and external refrigerator

    Flat - Part 1st and 2nd floor believed to be a 4 bedroom flat


    Tenancy

    37 (unit 1 & 2) Kingsland Road

    • Sold off on Reversionary leases (an approx. 65 years unexpired)
    • Ground Rent £1,120 p.a.
    • Unit 1 Ground rent doubles every 33 years

    39 Kingsland Road

    • Let to a private individual (TA Galley Seafoods)
    • Investment let at £9,360 p.a.

    Rent

    £10,480

    Notes

    Please note, the site areas provided are approximate. The photos and yellow line drawings are for illustrative purposes only and may not reflect the exact boundary of the site. The property has not been internally inspected by Savills, prospective purchasers must rely upon their own enquiries in this regard. 

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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

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      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Local information

      The subject property is situated on the east side of Kingsland Road, one of the main routes into the centre of West Mersea and to the south of its junction with Rainbow Road.


      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

      Addendums