Sold prior to auction, for an undisclosed amount

Freehold mixed use building comprising a ground floor commercial unit with a self contained, 2 bedroom flat above (624 sq ft, source EPC), let producing £17,400 pa. Yards to the rear with development potential.

Description/Location

The building was let for a period of 10 years from 01/11/2010 (now expired), the lease is outside of the 1954 Landlord & Tenant Act. We understand the tenant sublets the flat on AST terms at £10,200 pa. We estimate the current rental value of the ground floor commercial space is £12,000 - £14,400 pa. An opportunity to significantly increase the rental income with land to the rear providing potential for extension and development to create additional units.

Local Authority

Southend on Sea Borough Council 01702 215000

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Virtual Tour 379 & 379a Rayleigh Road

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*Guide Price & Reserves

Generally speaking Guide Prices are provided as an indication of each seller’s minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

The “Important Notes For Auction Buyers” at the front of the catalogue includes a definition of “Guide Price & Reserve Price”. All properties are subject to a purchaser’s administration fee of £1,500 + VAT unless otherwise stated in the addendum (£420 inc VAT for lots with guide prices up to £3,000). If the purchaser is liable for any further costs these will be stated within the Special Conditions of the legal pack, that have been produced by the seller’s lawyer, a copy of which can be downloaded from our website.