Restaurant for sale

High Street, Billericay, Essex, CM12

1,430 sq. ft. | £90,000

Property Description

Commercial information

  • 1,430 sq ft (132 sq m)

Key features

  • Fast Food Restaurant Premises
  • In Prime High Street Location
  • Close Waitrose Supermarket
  • Approx 1,500 Sq.Ft.
  • New Lease Available
  • Suit Many Catering/Retail Uses

Full description

Tenure: Leasehold

DESCRIPTION:
Fast Food/Restaurant premises in this exclusive High Street location. Comprising ground floor approx. 1,430 sq.ft. currently trading as a Wimpy Hamburger Restaurant & Take Away. Suitable for a wide variety of alternative Restaurant/Catering or Retail uses.

Property 
In approx. 1,430 sq.ft. and the subject of a complete refurbishment programme in 2007. Seating for 68 on both chairs and bench seating. The left hand flank wall comprises the service counter with access to the open plan kitchen. Fully air-conditioned with ladies, gents and disabled persons toilets. Passageway leading to a store and Fire Escape, which opens onto the rear open yard and then to external elements with access to a side pedestrian alleyway. Secondary means of access to other storage, and also to another exit to the rear yard which houses a free-standing Coldroom used for storage.

Location 
Billericay is an affluent commuter town lying 25 miles to the east of central London and 7.6 miles to the county town of Chelmsford. Billericay is a part of the London commuter belt, and is served by Billericay railway station serving Liverpool Street. Billericay is close to two primary routes, the A12 to the north and the A127 in the south.

Tenure 
Leasehold. Our Clients have entered into a 15 year lease in April 2016, subject to 5 yearly rent reviews, at a rent of £51,750 pa, with a break clause at the 10th year. (Additional rent of £2,600 pa is payable in respect of rear external refuse space). The lease comprises the Restaurant, the first floor Beauty Salon and the adjoining Hairdressing premises. The adjoining premises are sub-let to the occupiers for 10 years at £22,000 pa, rising to £23,500 pa at the 5th year. In addition, the 1st floor is let on a year by year basis producing a rental income of £9,000 pa. These lettings result in a net rent payable of £23,350 pa.

Business Rates 
The 2017 rateing valuation for the ground floor Restaurant (106B) shows an adopted value of £26,500 resulting in a liability for 2016/2017 of £13,170. The adjoining premises (106C) & 1st floor (106A) have rateable values of £14,750 and £4,400 respectively. The payment of Business Rates are the liability of the occupiers.

Terms 
Our Client is willing to assign the lease of the whole, with the benefit of the rental income, or to grant a sub-lease of the ground floor Restaurant only at a rent of £37,000 pa.

Leasehold Premiums 
Premiums for the leasehold interests are £90,000 in respect of the whole, or £50,000 in respect of the ground floor Restaurant only.

Legal Fees 
Each party is to be responsible for their own legal fees.

More information from this agent

Nearest stations

  • Billericay (0.4 mi)
  • Ingatestone (3.3 mi)
  • Shenfield (3.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Dedman Gray, Essex

103 The Broadway, Thorpe Bay, Essex, SS1 3HQ

01702 744063 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Billericay (0.4 mi)
  • Ingatestone (3.3 mi)
  • Shenfield (3.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Dedman Gray, Essex

103 The Broadway, Thorpe Bay, Essex, SS1 3HQ

01702 744063 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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