Lot 37
    Retail Property (high street)
    2 Calcutta Road
    Tilbury, Essex, RM18 7QU
    Sold for £610,000
     
    Number 1
    A Commercial Investment Producing £25,732 Per Annum (Rising to a Minimum of £28,706 Per Annum in September 2021). Development Potential (Subject to Obtaining all Relevant Consents).

    Description

    The property comprises an end of terrace building including three commercial units arranged as 2 x ground floor lock up shops and a first floor gym with a total combined GIA of approximately 5,300 sq ft and a large rear yard with access from the road. There is development potential to convert the building to residential under permitted development Class MA and add additional storeys above (subject to obtaining all relevant consents).

    Tenure

    Freehold

    Location

    The property is situated on a busy parade. Nearby multiples include Tesco, Boots and The Cooperative. Transport links are provided by Tilbury Town rail station.

    Accommodation

    Ground Floor
    Unit 1 (Betfred) 105.90 sq m (1,139 sq ft)
    Unit 2 (Florist) 116.70 sq m (1,256 sq ft)

    First Floor
    Gym 269.70 sq m (2,903 sq ft)

    Total GIA 492.30 sq m (5,299 sq ft)

    Tenancy

    The entire building is let on a 16 year FRI lease from 28th February 2011 to Done Brothers (Cash Betting) Ltd at a rent of £25,372 per annum rising to £28,706.09 per annum in September 2021. No break clause.

    Current Rent Reserved

    Current Rent Reserved £25,732 per annum

    VAT

    VAT is not applicable
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