Southern Dental & Co-Op Funeralcare, Frinton on Sea
18-20 Connaught Avenue, Frinton on Sea, Essex, CO13 9PW
- Freehold, blue-chip medical and funeral care investment.
- The property consists of two newly created retail units with two self-contained residential flats arranged over first and second floors (flats above to be sold off).
- The site extends a total of 2594 sq ft.
- Frinton-on-Sea is an affluent seaside resort town located on the east coast of Essex.
- The town is located some 5 miles north-east of Clacton-on-Sea, 15 miles east of Colchester and 18 miles south of Ipswich.
- The property is situated on the main retail pitch in the town is just under 5 minute walk to the sea front.
- Nearby occupiers include Boots, Sue Ryder, Oasis, Nationwide and Oxfam.
- There is an extremely low vacancy on Connaught Street with a good mix of national and local retailers in occupation such as Peacocks, Sainsbury’s, Card Factory, Barclays and Natwest to name a few.
- 18 Connaught Avenue, is a 1,425 sq ft. unit let on a new 10 year lease to Co-op Funeralcare (Funeral Services Ltd) from 14th November 2016 at a rent of £19,500 p.a. There is a tenant break clause at the expiry of the fifth year.
- 20 Connaught Avenue is a 1,169 sq ft. unit let on a new 15 year lease to SOuthern Dental Ltd. from 5th October 2016 at a rent of £26,500 p.a. There are no break clauses.
- There is £500 p.a. receivable from ground rents from the two flats above – £250 p.a. each
- The total Commercial Income is £46,500 p.a.