Freehold care facility site available in Leigh on Sea Essex with income and rental potential
Leigh on Sea, EssexAsking Price: £312,500
Status:
FOR SALE
Date Submitted:
01/12/25
Advert ID:
3460
Reference:
RX687597 / Rightbiz
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Business Details
Freehold Investment Opportunity
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
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