Auction House London

Lot 37

Retail Property (high street) - Commercial Property 

2 Calcutta Road

Tilbury, Essex, RM18 7QU

Sold for £610,000

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

Additional Fees

Administration charge: £1,200 including VAT unless otherwise stated in the addendum.

Buyers Premium and Disbursements: Please see the legal pack and the addendum for any disbursements and buyers premium that may be payable by the purchaser on completion.

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Open House Viewings:
For further information, please register for the legal pack. To speak to a member of our team about this lot, please call us on 020 7625 9007 or email us at info@auctionhouselondon.co.uk

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