Overview
Description
SHOP, 2 FLATS & 2 GARAGES INVESTMENT – SOUTHEND ROAD, ROCHFORD – An end of terrace corner plot consisting of a shop currently let on a 20 year lease at a rental of £13,200 per annum exclusive, 3-bed flat current let on an AST at £850 pcm which we feel is under market value and could achieve £950 pcm, 2-bed flat currently let on an AST at £1,200 pcm and one garage let at £200 pcm. Total current rental income of £40,200 per annum however, there is huge scope to increase that by letting the vacant garage and increasing one of the flats rents to market value, which would increase the passing rent by a further £3,600 per annum.. We feel there is also potential for the property to be converted or redeveloped subject to planning, either converting the property into an Airbnb or HMO, alternatively looking into developing the property into a block of flats. The property is located on the corner plot of an established parade of shops, within close proximity to Southend Airport, providing great transport links with a bus stop and being only 0.8 miles from Rochford train station, which is a mainline London Liverpool Street line station. RX294243
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