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Shop to rent

High Road, Loughton, Essex

£32,000 pa| £2,667 pcm

Property Description

Key features

  • Restaurant/coffee shop use
  • Includes fixtures & fittings
  • Business/lease for sale
  • EPC rating - D

Full description

** CAFE/RESTAURANT BUSINESS FOR SALE ** - Comprising a ground floor retail unit trading as a cafe/restaurant. The property is held on a 15 year lease from May 2013 and the current passing rent is £32,000 per annum. The lease is subject to 5 yearly rent reviews and a 10 year tenant's break clause. Our client is seeking a premium for the lease, fixtures and fittings, and goodwill. Premium on application. Please call CLARKE HILLYER on 020 8501 9220 for further information.

Location - Situated on High Road, Loughton, where a number of multiple retailers such as Marks and Spencer, Holland and Barrett and New Look are present. There are also a number of banks and cafes/restaurants located on the High Road. Pay and display parking is available on the street, and there is a public car park to the rear of the property. The Central Line Underground station at Loughton provides a regular commuter service to and from London and access to the motorway network is via Junction 26 of the M25 at Waltham Abbey or via Junction 5 of the M11 at Loughton (southbound only).

Description - Comprising a ground floor retail unit trading as a cafe/restaurant. The property benefits from A1/A3 (restaurant and coffee shop) use and an alcohol licence has been applied for. The accommodation is more particularly described as follows:

Shop: 821 sq ft (76.3 sq m)
Kitchen: 91 sq ft (8.5 sq m)
Freezer: 49 sq ft (4.6 sq m)
Al-fresco area: 155 sq ft (14.4 sq m)
Toilet facilities included.
1 rear parking space included.

All measurements quoted are approximate only.

Terms - The property is held on a 15 year lease from May 2013 and the current passing rent is £32,000 per annum. The lease is subject to 5 yearly rent reviews and a 10 year tenant's break clause. Our client is seeking a premium for the lease, fixtures and fittings, and goodwill. Premium on application.

Business Rates - Epping Forest District Council have informed us of the following;

2010 Rateable Value: £30,250
2016/17 UBR: 0.497 P/£
2016/17 Rates Payable: £15,034.25

All interested parties are advised to verify these figures with the Local Authority.

Legal Costs - The ingoing Tenant is to be responsible for all parties' reasonable legal costs.

Viewings - Strictly through Clarke Hillyer on 020 8501 9220.

Epc - The property has an Energy Performance Certificate rating of D.

Whilst we at Clarke Hillyer endeavour to ensure the accuracy of property details produced and displayed, we have not tested any apparatus, equipment, fixtures and fittings or services so cannot verify that they are connected, in working order or fit for purpose. Neither have we had sight of the legal documents to verify the Freehold or Leasehold status of the property. Please be advised that any plans provided are to indicate the layout of the property, are not to scale and for guidance purposes only. Any interested parties are advised to obtain verification from their solicitor or surveyor.


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