High Yielding Secure Investment Property In Essex For Sale

Business description

An opportunity to acquire a secure, appreciating freehold investment. The property is situated on a popular trading estate in Essex within 2 minutes walk to London mainline railway station. Let to established, successful tenant operating as unique specialist gymnasium on new 15 year FRI lease from 08. 10. 10 at £32, 900 pa exclusive of rates with upward rent reviews due 2014 and every 4 years thereafter. (Yield : 7.5% with opportunity to improve)
The business has been established for 7 years and the tenant has completely refurbished the property and comprises a state-of-the-art 6, 000 sq ft ground floor gym, with a further 1, 200 sq ft of luxury self contained studio and offices on additional 2 floors, all with complete security, smoke and fire alarm systems and ample forecourt parking. All enquiries from principals only please direct to owner.

Property information

Premises details:

End terrace, 3 storey freehold on popular trading estate with good connections to bus, rail and London Southend airport

Size in square feet:

7,200

Business Operation

Expansion potential:

15 year FRI Lease from Oct 2010, with upward rent reviews every 4 years

Competition / Market:

Specialist gym with no local competition

Reasons for selling:

Owner wishes to pursue other business interests

Trading hours:

7 days/week

Years established:

7