- Prominent High Street location.
- Attractive period building.
- Current income £25,000 a year.
- Vacant office suite, renewals in 2019 and 2020.
- Offers in the region of £400,000 for the freehold.
Property Location104/104A/104B, High Street, Billericay CM12 9BY.
The property is in a prominent location in High Street, a busy road in the centre of Billericay, and is situated near several national and multiple retailers.
A two-storey period building recently refurbished externally, together with a separate self-contained single-storey retail unit. The main building is of rendered brick construction, timber windows with a plain tiled pitched roof to the front and a corrugated metal lean-to roof to the rear. The separate building (104A) is again of rendered brick construction with a mono-pitched corrugated metal roof. Access to this property and also 104B is by way of a private pedestrian walkway, owned by the neighbouring property. See the attached plan.
The property comprises three shop units, all currently let, together with a vacant office suite on the first floor.
Retail area 19/3 x 20/0
TOTAL NET RETAIL AREA & ITZA 385 SQ. FT. (35.8 SQ. M).
Retail area 13/0 x 11/8, plus 15/9 x 12/9, plus 12/10 x 11/0 overall.
TOTAL NET RETAIL AREA & ITZA 476 SQ. FT. (44.2 SQ. M).
Retail area 14/2 x 13/3
Kitchen 13/0 x 8/3
Store 4/3 x 4/0, plus 3/9 x 3/0.
TOTAL NET RETAIL AREA 341 SQ. FT. (31.7 SQ. M) - ITZA 188 SQ. FT. (17.5 Sq. M).
First Floor Office Suite
Rear Office 14/3 x 14/4.
Front Office 1 15/2 x 7/3.
Front Office 2 12/6 x 12/0 maximum.
TOTAL NET OFFICE AREA 455 SQ. FT. (42.3 SQ. M).
Energy Performance Certificates
104 - rating of G (174); 104A - E (105); 104B - D (97) and First Floor Offices - E (101).
104 - Let to Adam Shaw trading as Sparklers Jewellers, on a 15 year lease from 30th July 2017. The lease contains a break option on 30th July 2027, and the rent is £10,000 a year.
104A - Let to Theresa Brook and Alison Curle trading as Gimme Shooz, on a 5 year lease from 24th June 2015. The rent is £8,000 a year.
104B - Let to Hayley Goffi trading as Billericay Bakery on a 7 year lease from 6th January 2012. The rent is £7,000 a year.
104C (Offices) - Currently vacant, estimated rental value £3,500 to £4,000 a year.
The freehold of the whole property is offered for sale, subject to the tenancies set out above, at a price of £400,000. This equates to a gross yield of 6.25% on the current rents, increasing to 7.25% assuming that the first floor is let for £4,000 a year. We understand that VAT will not be charged on the sale.
Please contact the sole agents, Morley Riches & Ablewhite - Jon Ablewhite (email@example.com) or Amelia Valentin (firstname.lastname@example.org) - 01206 505707.