Lodge Lane, Grays, Essex, RM17

£500,000

Guide price

LOCATION:

Grays is the largest town in the borough of Thurrock. The town is approximately 20 miles to the east of London on the north bank of the River Thames, and 2 miles east of the M25 motorway, with the A13 some 5 minutes drive. The subject property is midway on a 20 unit strong parade of shops with both corporate and independent traders including Coral & Betfred bookmakers and Pizza Hut.

DESCRIPTION:

A mixed use investment opportunity comprising a ground floor commercial office premises and first floor three bed flat. The commercial premises is let on a 2 year lease, expiring on 31st April 2021 and arranged over two offices, one of which is sublet by the head tenant. The first floor flat is let on an AST agreement with a tenant in situ and comprises two double and one single bedrooms, kitchen, wc and lounge and accessed via the rear of the property. Benefits include gas central heating, air conditioning, parking and external storage.

Accommodation All areas are approximate and have been measured on a Net Internal Basis (NIA).

Commercial - 1,369 sq. ft. (127.16 sq. ms.)

Residential - 1,045 sq. ft. (97.14 sq. ms.)

Total - 2,414 sq. ft. (224.3 sq. ms.)

Features Mixed Use Investment

Freehold Sale

Producing £32,640 Per Annum

Located Close To Main Transport Links

Parking

Available Immediately

Terms The freehold investment is available to purchase at an asking price of £500,000 (plus VAT if applicable).

Ground Floor Commercial Unit:

Let on a 2 year lease expiring on 31st April 2021 and currently producing £21,000 pa.

First Floor Flat:

Let on AST to the same tenant for 3 years and currently producing £11,640 pa.

Business Rates The commercial aspect is entered on the 2017 rating list under two separate listings, 51 & 51A as a Shop and Premises with a current rateable values of £10,250 (51) & £5,400 (51A). Interested parties are advised to seek verification from Thurrock Council on 01375 652652.

Energy Performance Certificate Available upon request.

Legal Fees Each party to bear their own costs.

Viewing All appointments to view are via Dedman Gray on 01702 311 111.

Arrange viewing 01702 781134

Dedman Gray

103 The Broadway, Thorpe Bay, Essex

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