NEW

A rare opportunity to acquire the freehold interest of a substantial plot of land located at 53 Rayleigh Avenue, Leigh-on-Sea, Essex, SS9 5DS, currently occupied by a single-storey modern care facility constructed circa 1995. The site area extends to approximately 0.348 acres (0.141 hectares) and is held on a long lease with 67.5 years unexpired, providing the incoming freeholder with a secure and escalating income stream.

The existing building comprises a well-designed care facility including a reception, kitchen, dining room, activity room, sensory room, medication room, administration office, staff room, laundry, bathroom, two wet rooms, washroom, and 10 bedrooms, all set within private grounds. Externally, the plot includes two sheds and a timber-framed bin store.

Key Investment Highlights

Freehold plot for sale

Prime Essex location: 53 Rayleigh Avenue, Leigh-on-Sea, SS9 5DS

Site area: approx. 0.348 acres (0.141 ha)

Existing care building: single-storey modern facility (c.1995) with 10 bedrooms and full ancillary accommodation

Existing lease term: 67.5 years remaining

Current ground rent: £2,000 per annum

Upcoming rent review: 3rd March 2028, and every 5 years thereafter

RICS valuation of market ground rent: £18,000 per annum

Strong potential for uplift at next rent review

Professional RICS Valuation

A recent RICS surveyor appraisal assessed the freehold ground rent investment value as follows:

Term Value Calculation:

Ground rental value: £18,000 per annum

YP for 66.5 years @ 6%: 16.3206

Capital value of term: £293,770

Reversion Value Calculation:

Reversionary property value: £900,000

Present value of £1 for 66.5 years @ 6%: 0.02429545

Reversion value: £21,865

Total assessed investment value: £315,635

After deducting the current applicable stamp duty (£3,282), the adjusted investment value is assessed at £312,353, rounded to £312,500.

Why Buy This Freehold?

Secure long-term passive income

Significant rental uplift potential at upcoming reviews

Professionally verified valuation

Low outgoing responsibilities typical of ground rent investments

Attractive adjusted investment price RX687597