Commercial Property

An excellent opportunity to acquire a prominent mixed-use freehold investment property situated in the heart of Hadleigh on the busy London Road retail parade. The property comprises a high specification commercial unit arranged over ground floor, mezzanine and basement levels together with three modern one-bedroom residential flats, all currently let on Assured Shorthold Tenancies.

The asset benefits from strong existing residential income together with significant additional income potential from the commercial accommodation, or for the occupation of the commercial with the benefit of the flat incomes, making this an attractive opportunity for investors seeking a well-positioned mixed-use investment with asset management potential.

The property occupies a highly visible position on a well-established commercial thoroughfare with strong passing traffic and footfall, surrounded by a variety of national and independent occupiers. RX775504

Location

The property is prominently situated on London Road in Hadleigh, one of the principal commercial routes serving the area and connecting Benfleet, Leigh-on-Sea and Southend-on-Sea. The surrounding area comprises a busy retail and commercial parade with a mix of independent retailers, restaurants, service providers and convenience operators. Hadleigh benefits from a strong local catchment population and excellent transport connectivity. Benfleet railway station is located within easy reach, providing direct services into London Fenchurch Street, making the area popular with commuters and supporting continued residential demand. The property further benefits from regular local bus services and convenient access to the A13 and A127, providing links throughout South Essex and towards the M25. Its prominent frontage onto London Road ensures excellent visibility and consistent passing traffic throughout the day.

The Property

This attractive mixed-use property comprises a substantial commercial unit arranged over ground floor, mezzanine and basement levels together with three self-contained residential flats. The commercial accommodation has been fitted to a high standard and provides a versatile open-plan retail or office environment suitable for a range of occupiers. The ground floor retail space benefits from excellent natural light and frontage onto London Road, with additional mezzanine accommodation and a useful basement area ideal for storage or office use. To the rear of the commercial unit is a staff breakout room incorporating a fitted kitchen together with WC facilities.

Residential Property

The residential accommodation consists of three modern one-bedroom flats, all refurbished to a high standard and currently let on Assured Shorthold Tenancies. The upper floor flat further benefits from a private sun balcony extending to approximately 169 sq ft. The property presents well externally with an attractive brick façade and modern shopfront, contributing positively to its strong roadside presence.

Property Schedule

Ground Floor Retail Unit 1,001sqft (93.0 sqm) :: Basement 303 sqft (28.15sqm) :: Flat A 538.20sqft (50sqm) :: Flat B 440.24sqft (40.90sqm) :: Flat C 418.72sqft (38.90) :: TOTAL 2,701.16 (250.95sqm) ::

Tenancy Schedule

The three residential flats are currently let on Assured Shorthold Tenancies producing a combined rental income of £3,250 per calendar month, equating to £39,000 per annum. The commercial accommodation is considered capable of producing a rental income in the region of £24,000 per annum, offering a potential total combined income of approximately £63,000 per annum. Further tenancy information is available upon request.

Tenure

The property is available freehold with the benefit of the existing residential tenancies at £980,000

Legal Costs

Each party to bear their own legal costs incurred in this transaction.

Disclaimer

Whilst every care is taken to ensure that these particulars are correct, accuracy is no way guaranteed and none of the information supplied forms part of any contract. Acceptance of these particulars constitutes a contract to the effect that all negotiations for the business or property will be made through Gilbert & Rose otherwise the purchaser will be equally responsible with the vendor for damages equal to the amount of our commission.