Property photos
Auction
From
£85,000
Property for sale
Kingsland Road, West Mersea, Colchester CO5Local area information
Property location
Nearby amenities
- Mersea Island School 0.1 miles
- Langenhoe Community Primary School and Pre-School 3.7 miles
- Point Clear Ferry Landing 4.7 miles
- Brightlingsea Ferry Landing 4.9 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Features and description
- To be offered on Thursday 30 May
- Investment let at £11,080
- P.a. (13% giy on guide)
- 1 commercial unit investment let at £9,840 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.
- VAT free investment
Strapline
Auction Sale - 29/05/2024
Of interest to Investors and Developers
A freehold parade of shops and car park to the rear (part sold off on a long lease). Future development potential to add an additional floor above 39 Kingsland Rd and change of use. (Subject to the requisite consents).
Investment let at £11,080 p.a.
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.
Location
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.
Tenancy
37 (unit 1 & 2) Kingsland Road
39 Kingsland Road
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
Auction Sale - 29/05/2024
Of interest to Investors and Developers
A freehold parade of shops and car park to the rear (part sold off on a long lease). Future development potential to add an additional floor above 39 Kingsland Rd and change of use. (Subject to the requisite consents).
Investment let at £11,080 p.a.
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.
Location
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.
Tenancy
37 (unit 1 & 2) Kingsland Road
- Sold off on Reversionary leases (an approx. 65 years unexpired)
- Ground Rent £1,240 p.a.
- Unit 1 Ground rent doubles every 33 years
39 Kingsland Road
- Let to a private individual (ta Galley Seafoods)
- Investment let at £9,840 p.a.
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
More information
Listed by
Savills - National Auctions
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