Alexander House 21 Victoria Avenue Southend-On-Sea, Ss99 1Bd
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WELL LET FREEHOLD INVESTMENT OPPORTUNITY ALEXANDER HOUSE 21 VICTORIA AVENUE SOUTHEND-ON-SEA, SS99 1BD ON THE INSTRUCTIONS OF THE JOINT FIXED CHARGE RECEIVERS ALEXANDER HOUSE SOUTHEND-ON-SEA EXECUTIVE SUMMARY Well let investment opportunity. Located in the south east London commuter town of Southend-on-Sea. Single let to the undoubted government covenant of The First Secretary of State. Passing rent of £1,773,742 per annum. Large site area of 2.543 acres (1.029 hectares). Freehold. Totalling 235,679 sq ft. Long term potential to redevelop the site for alternative uses subject to gaining the necessary planning consents. The Vendor is seeking offers in excess of £17,000,000 (Seventeen Million Pounds) subject to contract and exclusive of VAT, for the benefit of the freehold interest in the property. This price reflects a net initial yield of 9.86% after purchaser’s costs of 5.8% and only £72 psf capital value. Stratford 7 A487 upon Avon Bedford A4112 A4103 M1 ALEXANDER HOUSEM11 A509 A470 A508 A46 A5 A483 Great A10 Haverhill A438 Newport SOUTHEND-ON-SEABiggleswade A438 A6 Ipswich Malvern A44 Banbury Evesham Pagnell A505 9 A438 11 Sudbury 14 A43 Milton Royston A14 Hereford 8 A422 A421 1 A44 Keynes 13 10 A46 A131 Felixstowe A470 2 9 Letchworth A40 Tewkesbury A479 A465 9 Harwich M50 A43 Leighton Hitchin M5 10 A5 A120 St David's A44 Buzzard A120 A49 4 3 10 Stow-on- the-Wold M1 A40 Braintree A40 Gloucestershire M40 A1(M) Stevenage Luton Stansted Carmarthen Llandeilo Cheltenham 11 A602 Colchester A133 A40 11 Bicester 8 Gloucester A41 Luton Bishop's A120 A40 9 A483 A48 10 A10 A34 Welwyn Stortford A130 A40 A40 A470 A40 A436 A131 LOCATION St Clears Abergavenny Garden Aylesbury City M11 Witham A12 Clacton-on-Sea A417 A40 Kidlington A465 Witney Tring Merthyr A429 A4076 Ammanford 12 St Milford A40 A41 4 A477 Tydfil A40 Harlow Southend on Sea lies in the heart of Essex and is a well-established A4042 Oxford 8 Albans Maldon Haven A413 Chelmsford 49 13 Stroud A40 3 Hoddesdon 7 7 commercial, residential and tourist hub. The town grew rapidly in A478 A48 A465 Aberdare 8 A418 Thame A414 Pembroke 48 M5 A419 Cirencester 7 A4010 A449 A10 Dock A477 Pontypool the 19th century with the arrival of the railway link to London which M4 M25 25 A12 47 46 45 SOUTHEND-ON-SEA Llanelli A130 Pembroke A420 provided a fast connection for seaside tourists. The town now boasts 44 Neath Abingdon High Watford Swansea 43 Cwmbran 6 Enfield 5 Wycombe 42 Chepstow M1 Barnet Chigwell two railway stations with direct links to London Liverpool Street 14 A419 M11 28 Rayleigh 41 2 Didcot M40 A12 Brentwood 4 2 (Southend Central 1 hour 14 minutes and Southend Victoria 1 hour 40 25 M48 A433 3 A406 4 A470 26 24 1 2 29 A127 Port 39 27 23 Marlow A127 Pontypridd 1 Basildon Caerphilly Newport 21 A40 A41 16 minutes), as well as an international airport (London Southend Talbot 38 28 M4 22 1 Harrow M25 A13 Port 29 Swindon Uxbridge A406 M4 30 M49 16 Henley- City A13 Airport) and its own university (The University of Essex). Einon 36 16 A429 Canvey Island 32 17 37 35 M4 15 on-Thames LONDON 34 33 19 17 30 18 A346 1 Woolwich Porthcawl Bridgend 1 M4 18 A34 CARDIFF 19 Richmond 2 M32 Chippenham A4 The town is located 42 miles east of Central London and 20 miles M5 3 M4 Reading Heathrow A205 Dartford Gravesend Clevedon 14 13 A20 A2 2 Margate south of Chelmsford. Road links are excellent with the A13 providing 20 BRISTOL A46 A350 12 10 Staines A2 Rochester 1 Barry 11 Kingston upon Thames A28 direct access to London within 1 hour and 30 minutes. A4 Newbury A232 Gillingham A38 Melksham A299 Weston- A37 Bath Sutton Croydon Sittingbourne A253 super-Mare 21 3 M25 4 A28 Bristol Devizes Camberley M20 3 5 A36 A34 Epsom M25 10 A22 3 A249 7 A338 A33 4 9 6 M2 A339 A24 A23 A2 Canterbury Trowbridge 5 M26 7 Leatherhead M25 Sevenoaks A228 A2 A361 Maidstone Basingstoke 5 8 6 A21 Lynton 6 M3 Aldershot Oxted A26 22 Dorking Redhill Ilfracombe Burnham-on-Sea Reigate M20 A28 A256 Minehead Frome Andover 7 Tonbridge Lynmouth Farnham A22 A31 A229 A361 Warminster A24 M23 8 A2 A36 9 Ashford 10 Dover A303 A303 Alton Gatwick A20 23 A361 Tunbridge Wells A39 A34 Bridgwater A338 M3 Crawley Folkestone Barnstaple A37 A31 24 Haslemere 11 A3 A26 9 Horsham A22 Salisbury Winchester Crowborough A259 M5 A303 A350 10 Taunton Langport 11 Haywards Bideford A36 25 Heath A361 A354 A272 A358 Romsey 12 Petersfield A23 Uckfield A39 13 26 A303 Yeovil 14 Eastleigh A21 A3088 4 A338 2 3 4 5 A386 A24 A22 A377 27 A26 A259 1 7 1 A303 A283 Tiverton SOUTHAMPTON 8 A3(M) A27 Lewes Hastings A31 9 3 Hailsham A259 M27 10 HavantA27 Shoreham Ringwood 11 Chichester A27 Brighton A27 28 Hythe 5 Bexhill- A30 12 A31 Fawley Fareham 12 Littlehampton on-Sea A37 Hove Holsworthy A22 A350 Worthing Newhaven A354 Gosport M5 A338 A30 Seaford Eastbourne A348 New Milton Lymington Portsmouth Bognor A31 Bridport A35 Regis Exeter 29 A35 Cowes Ryde Christchurch 30 Dorchester Poole Bournemouth Newport Tintagel A395 A30 Sidmouth 31 A376 Sandown A39 A380 Exmouth Shanklin A388 Dawlish Weymouth A30 Teignmouth A38 Newton Abbot Bodmin A38 Newquay A386 Torquay A392 A385 Paignton A30 Saltash PLYMOUTH A391 Plympton Brixham St Austell Torpoint Fowey Truro A390 A30 St Ives Redruth Camborne A39 Penzance A394 Helston Falmouth Sennen Lizard ALEXANDER HOUSE SOUTHEND-ON-SEA Southend Victoria Station The Range Victoria Shopping Centre Sainsburys Odeon High Street University of Essex Red keyline for indicative purposes only Y D A R W SITUATION D S TESCO R O R F EXTRA E H N C O A12 N 7 P R Alexander House occupies a prominent site at the junction of RINC A E A M VE N 9 Victoria Avenue, Queensway and Baxter Avenue with frontages U 5 E 1 B&Q 1 D A A O to all 3 streets. The property is less than a 1 minute walk from R C AR N LTON A VENUE P O RIORY T Southend Victoria train station and only 7 minutes’ walk from CRES T WAITROSE GARON PARK C U E S N GOLF COMPLEX PRIORY Southend Central train station. T SOUTHEND PARK A1159 HOSPITAL S SOUTHEND LESIURE P D 8 R R ITTLEWELL & TENNIS CLUB 5 CHAS G E WELLESLEY EA 1 S D TERN 1 A E L HOSPITAL VENUE Alexander House is opposite both the High Street and the E A V I S F E O R H R C H Y O R R A O G RI Y I M Victoria Shopping Centre with retailers including; Boots, Next, E G P A H L V S E FAIRFA PRITTLEWELL X DR T A O IVE VE N I R DR E R X T L H Samuel, Pizza Express, Vodafone, Starbucks, New Look, R FA T S I G R E I L A E R U F TR U L E O S T E O T A R T N A S B A Y E O D Odeon and Royal Bank of Scotland. R T 1 W N U S 2 A Y O E 7 R O B W ST V A H T D BOURNES S I T E W C GREEN PARK U T O O S D A R H O A R I A M A13 LON T D S O S N R E A T OA W V E D L E S R N U O U T A E T ALEXANDER HOUSE E O D U ARD N EV N UL A O R B E 1 SOUTHEND CH 3 O UR V H D L VICTORIA C KI O A TH A N A OU GS N D 3 S R O D A1 L O A R D D O WAY L A N NS E A13 QUEE I E G O R E R R O AD N O L W E Y A H R STA T D URC I SOUTHCHURCH K F K RD R THCH L 3 SOU S L U A1 T A O A A V C ODEON VICTORIA Q N H T U W C E CINEMA SHOPPING L E A W FI M D CENTRE OODGRANGE RST AVE Y D E R S A IV TATI A SOUTHEND E O N N O SOUTHEND H CHALKWELL RO H A I EAST D R G CENTRAL S H W N S O T WESTCLIFF T R A E T E Y I T T HE M LEAS RIVE ODGRANGE D W WO ESTE WOODGRANGE DRIVE RN E THE ROYALS 1160 SPL A DEMOGRAPHICS ANA SHOPPING CENTRE A D E 1 E 1 U 6 N W 0 ESTERN ESPLANADE Y E MA A RINE V P W A AR ADE SOUTHCHURCH L N L The total population of the Southend catchment area is E PARK A A A T ADVENTURE ST S H ER ISLAND N F E E I S P 336,000 and it is expected to see growth at the national PL L AN R AD O E PE ES H SOUTHEND PIER THOR PLANA average over the next 5 years (Promis July 2015). DE T DESCRIPTION • 8 x 12 person passenger lifts • Male, female and disabled WC’s on each floor The property was constructed in 1973 and comprises a 16 storey office • Air conditioning building, a separate single storey office building to the rear used as a • Suspended ceilings data centre and an additional 3 storey car park.