Lordsons proudly presents this freehold opportunity, double-fronted retail outlet is available for sale, situated on the south side of the busy and popular London Road (A13) in Westcliff. This property benefits from short-stay roadside parking bays directly outside the premises, making it...
Lordsons proudly presents this freehold opportunity, double-fronted retail outlet is available for sale, situated on the south side of the busy and popular London Road (A13) in Westcliff. This property benefits from short-stay roadside parking bays directly outside the premises, making it accessible for customers. The freehold includes two flats above the retail unit, which have been sold off on long leases.
The ground floor retail accommodation has been measured on a Net Internal Area (NIA) basis and comprises approximately 1,951 square feet (167 square metres), with an additional rear store area of about 476 square feet (44 square metres). The total ground floor space provides substantial room for retail operations or other commercial uses, subject to planning.
The retail unit is currently let to a tenant on a 20-year lease, producing an annual rental income of £18,750 plus VAT. It is noted that ground rents have not been collected in recent years for the two flats, identified as 296a and 298a London Road. Of particular note, Flat 298a has 63 years remaining on its lease, which may offer potential for a lease extension or renegotiation in the future.
The property features three-phase power, a long-term tenant in occupation, and excellent transport links due to its prominent location on a major road. The area is well known for its commercial activity, contributing to steady footfall and visibility for any retail business.
The freehold interest is being offered for sale at an asking price of £375,000 plus VAT. Interested parties are advised to make their own enquiries regarding planning permissions with the local authority, Southend Borough Council, which can be contacted on 01702 780321.
The property is understood to benefit from all mains services, though prospective purchasers should independently verify their presence and adequacy. According to the 2023 Rating List, the business rates are as follows: 296 London Road has a rateable value of £9,900, and 298 London Road has a rateable value of £10,750.
This opportunity presents a secure income-producing investment with additional potential from the residential leaseholds above.
