61-73 Victoria Ave - Beaumont Court & Richmond House 838 - 2,200 SF Condo Units Offered at $213,626 - $614,983 Per Unit in Southend On Sea SS2 6EB
INVESTMENT HIGHLIGHTS
- Prominently located
- Great transport links including Southend Victoria station within walking distance
- Near town centre amenities
EXECUTIVE SUMMARY
Situated a short walk from Southend’s busy high street, the development has also rejuvenated the area; transforming the unused blocks into contemporary new flats, including a 24 hour concierge service, resident’s gym and 2 well maintained roof gardens, as well as stunning views of the local area.
PROPERTY FACTS
| Price | $213,626 - $614,983 |
| Unit Size | 838 - 2,200 SF |
| No. Units | 5 |
| Total Building Size | 350,000 SF |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Floors | 11 |
| Typical Floor Size | 14,329 SF |
| Year Built | 2018 |
| Lot Size | 2.38 AC |
| Parking Ratio | 0.29/1,000 SF |
5 UNITS AVAILABLE
Unit 1
| Unit Size | 1,900 SF |
| Price | $614,983 |
| Price Per SF | $323.68 |
| Condo Use | Retail |
| Sale Type | Investment |
| Tenure | Freehold |
| Cap Rate | 7.50% |
| NOI | $46,123.69 |
DESCRIPTION
In a total of approx. 1,900 sq ft with an open plan seating area, together with a commercial fully equipped kitchen and ladies/gents toilets. In addition, al-fresco area licenced for up to 30 seated customers.
SALE NOTES
The property is let by way of a lease for a term of 15 years from 22nd November 2023, producing a rental income of £36,000pa + VAT, subject to a reversion in November 2028.
Interior
Unit 2
| Unit Size | 2,200 SF |
| Price | $511,407 |
| Price Per SF | $232.46 |
| Condo Use | Retail |
| Sale Type | Investment or Owner User |
| Tenure | Freehold |
DESCRIPTION
Fully equipped convenience store/ supermarket unit extending to 2,200 sq ft in total.
SALE NOTES
The property is available by way of a lease for a term of 191 years (virtual freehold) with a ground rent payable of £350pa. The service charge estimate for the current year is £338.92p per month plus VAT.
Interior
Unit 3
| Unit Size | 932 SF |
| Price | $258,940 |
| Price Per SF | $277.83 |
| Condo Use | Retail |
| Sale Type | Investment |
| Tenure | Freehold |
| Cap Rate | 9.00% |
| NOI | $23,304.60 |
DESCRIPTION
Ground floor retail space extending to 932 sq.ft. The unit is divided into the main salon, 3 treatment rooms, kitchen, store & WC.
SALE NOTES
The property is available by way of a lease for a term of 191 years (virtual freehold) with a ground rent payable of £350pa. The service charge estimate for the current year is £148.57p per month plus VAT.
Interior
Unit 7/8
| Unit Size | 1,230 SF |
| Price | $291,308 |
| Price Per SF | $236.84 |
| Condo Use | Office |
| Sale Type | Investment or Owner User |
| Tenure | Freehold |
DESCRIPTION
Office unit on the ground floor of Richmond House, featuring storage space and extending to 1,230 sq ft in total.
SALE NOTES
The property is available by way of a lease for a term of 191 years (virtual freehold) with a ground rent payable of £350pa. The service charge estimate for the current year is £689.15p per month plus VAT.
Interior
Interior
Unit 9
| Unit Size | 838 SF |
| Price | $213,626 |
| Price Per SF | $254.92 |
| Condo Use | Industrial |
| Sale Type | Investment or Owner User |
| Tenure | Freehold |
DESCRIPTION
Divided into 2 spaces, separated a partition wall, totalling 838 sq ft with 3.5m head height. Parking for 2 vehicles.
SALE NOTES
The property is available by way of a lease for a term of 191 years (virtual freehold) with a ground rent payable of £350pa. The service charge estimate for the current year is £326.90p per month plus VAT.
Interior
Interior
AMENITIES
SITE AMENITIES
- 24 Hour Access
- On-Site Retail
- Elevator
