A prime retail unit plus vacant uppers located on the main shopping street, Pier Avenue in Clacton Town Centre. The unit comprises approximately 2,500 Sq Ft on the ground floor (currently available for rent at £45,000 PA) plus ancillary space to first, second and third floors with potential to convert into residential apartments subject to obtaining the relevant consents.
LOCATION
Located on Pier Avenue, the main shopping street in Clacton Town Centre within half a mile of the train station and seafront. Pier Avenue boasts an array of national chains and independent retailers with nearby occupiers including; Poundland, Costa Coffee and Mcdonalds.
GROUND FLOOR
The ground floor retail area comprises approximately 2,500 Sq Ft, is currently occupied by TJ Jones and will shortly be coming vacant (advertised for rent at £45,000 PA). Predominantly open plan retail space with storage space to rear and access to service road to the rear of the parade.
UPPER FLOORS
First, second and third floors provide ancillary storage space and will be excluded from the new lease offered on the ground floor. We understand a scheme has been designed for 7 self contained apartments which once developed could yield a rental income of approximately £58,800 PA. No planning consent has been obtained but we believe permission is possible via Permitted Development rights, enquiries relating to this should be made to Tendring District Council.
PLANNING
The premises is currently used as for retail falling within Use Class E. Alternate uses may be possible, enquiries on whether planning permission is required for change of use should be directed to Tendring District Council.
BUSINESS RATES
The property appears in the VOA Ratings List with a Rateable Value of £31,750 giving approximate rates payable of £13,716 PA. *Please note a revaluation may be required as the current Rateable Value also includes the upper floors, we believe this would reduce the total liability.
VAT
Not elected for VAT.
