Property Information
Address:
31 King Street, Stanford-le-Hope, Essex
, SS17 0HJ
, Essex
, United Kingdom
Price: POA
Size: SOA
Primary Category: Office
All Categories:
Office,
Property Ref/Movehut: MH658797
Property Ref/Agent: FR8/06
*Please use the agent ref when calling the agent directly.
Property description
DESCRIPTION
Two storey building with single storey extension at rear which has been divided into three office suites. In August 2017 planning permission was granted to extend this single storey extension to form a larger 67 sq.m. extension. (See attached plan.) The premises are located in the main shopping centre of Stanford-le-Hope and are within easy reach of Stanford-le-Hope mainline railway station on line to London Fenchurch Street.
ACCOMMODATION briefly comprises:
* OFFICE SUITE 1 (Known as 31 King Street):
Total area - 471 sq.ft. (41.52m²) comprising two rooms with W.C. facilities shared with 31B King Street and parking at front.
* OFFICE SUITE 2 (Known as 31A King Street):
Total area - 345 sq.ft. (32m²) comprising two rooms with kitchen and W.C. facilities.
* OFFICE SUITE 3 (Known as 31B King Street):
Total area - 159 sq.ft. (14.8m²) comprising one room, kitchen and shared W.C. facilities with 31 King Street. A second W.C facility has been removed and is used for storage.
TENURE
Freehold.
INVESTMENT SUMMARY
31 King Street:
The tenant has been in occupation for approximately 12 years. The passing rent is £9,000 per annum exclusive.
31A King Street:
The tenant entered a 3 year agreement commencing 11th January 2021. The passing rent is £4,400 per annum exclusive.
31B King Street:
The premises are occupied by the present owner who is prepared to provide vacant possession. The market rent is £4,750 per annum excluding the garden facility.
Service Charge:
The central heating system is on a communal basis and therefore there is a small service charge to each tenant.
Rental Income of Whole Building:
We therefore consider that the total income for the whole building is in the region of £18,150.
Yield:
Gross Yield = 6.26%
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