RETAIL SHOP & 2-BED FLAT INVESTMENT
Overview
Description
RETAIL SHOP & 2-BED FLAT INVESTMENT – WEST STREET, SOUTHEND-ON-SEA, SS2 6HH – A terraced mixed use property with the shop and flat both let to two separate tenants. The shop is let upon a 5-year lease from October 2021 at a current rental of £6,000 per annum exclusive with rent reviews in October 2023 and October 2024. The flat is currently let to a long-term tenant who has been in occupation since 2011 at a rental of just £625 per calender month. This is a favourable rent given to a long-term tenant so we feel this could be increased to £800 per calender month which would be in line with market value. Current total rental income of £13,500 per annum, however, we feel that the current market rental values means the achievable rental income should be closer to £16,000 per annum.
Location Details:
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