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Land for sale

High Street, Rayleigh, Essex, SS6

£1,200,000

Property Description

Key features

  • Detached Restaurant Premises
  • Freehold
  • Approx 140 Covers
  • Popular High Street Location
  • Rear Car Parking/Service Yard
  • Redevelopment Potential

Full description

Tenure: Freehold

LOCATION:
The property is located towards the southern end of Rayleigh High Street, close to its junction with Love Lane and a short distance from the popular Paul Pry and Roebuck Public Houses.

Rayleigh Town Centre has a flourishing night-time economy due to its array of both national and independent bars, nightclubs and restaurants> It also enjoys an enviable mix of retailers and services providers.

The area is well served by the local road and bus network with train services being available from the mainline rail station (London Liverpool Street - Southend Victoria).

DESCRIPTION:
A vacant but well-presented restaurant arranged to provide a bar, main dining areas (approx. 60 covers), kitchen, staff and customer toilets and storage areas. To the rear of the main restaurant there is a separate function room and bar area (approx. 60 further covers).

There are a series of rooms at first level which have previously been used as staff accommodation.

Although now lapsed, in 2006 planning consent was granted for the demolition of the existing structure and the erection of a new building to provide a ground floor commercial unit with 3 storey, 9 unit, apartment scheme above.

A service yard/car park which is accessed from Love Lane is located at the rear of the building.

Accommodation 
All areas are approximate and have been measured on a net internal (NIA) basis: Bar Area: 420 sq ft (39 sq ms) Main Restaurant: 775 sq ft (72 sq ms) Function Room: 785 (73 sq ms) Service Areas: Unmeasured First Floor: 1291 sq ft (120 sq ms)

Features 
*Detached Restaurant Premises *Freehold *Approx. 140 Covers *First Floor Accommodation *Popular High Street Location *Car Parking *Redevelopment Potential

Planning & Redevelopment Potential 
Planning consent was obtained in February 2006 (05/00899 FUL) for the demolition of the existing building and the erection of a new A1/A3 ground floor commercial unit with 9 apartments arranged over three floors above. Although this consent has now lapsed we understand that the Local Planning Authority would have no fundamental objections to a new application on a similar basis. Interested parties would nevertheless need to make their enquiries in this regard.

Terms 
The property is being offered for freehold sale subject to an asking price of £1.2m. Our client is also the freehold owner of 3 Love Lane, a 3 bedroom cottage which is currently let on an AST basis at a rent of £950.00 pcm. Being located immediately adjacent to the rear access, it is felt that this property enhances the development potential of the site. This property would therefore be available in conjunction with the main building subject to a combined asking price of £1.6m.

Business Rates 
The property is entered on the 2010 Rating List as Restaurant & Premises with an adopted rateable value of £21,000.

Energy Performance Certificate 
An Energy Performance Certificate is available for inspection.

Viewing Arrangements 
Strictly by prior appintment through Dedman Gray Commercial, the sole selling agents. Contact Roy Horton on 01702 311039 for further information or to arrange an appointment.

More information from this agent

Listing History

Added on Rightmove:
26 May 2016

Map & Street View

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