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Little Square, Braintree, Essex, CM7

£475,000

£260.56 per sq ft

Business rates & charges may apply

Joscelyne Chase Commercial, Essex
SIZE AVAILABLE

1,823 sq ft

169 sq m

SECTOR

Cafe for sale

Description

Retail investment premises approximately 1,823 sq ft. Subject to a leaseback the property will generate an income of £35,000 per annum with a gross initial yield of 7.3%.

DESCRIPTION
The property consists of two floors of concrete frame construction with brick elevations. The ground floor is open plan with a fitted kitchen and seating area with stairs located centrally leading up to the first floor which provides further seating, an office and two w/c’s. Externally the premises benefits from seating for 16 covers. We understand the property will be available on a virtual freehold from Eversquare Properties Limited for a term of 999 years from 10th May 2002 until 9th May 3001 at a peppercorn rent.

The owner/occupier agrees that a lease would be completed simultaneously with the sale completion. The terms of the lease would be a 20 year lease with 5 yearly rent reviews and an option break at year 5 at an intial rent of £35,000 per annum. The property will generate an income of £35,000 per annum which will reflect a gross initial yield of 7.3%.

LOCATION
The subject property is located in the centre of the Braintree retail area. The property fronts onto a small pedestrian square adjacent to a hair dressers and close to a solicitors office & an estate agents.

ACCOMMODATION
The property extends to a gross internal area of approximately - 1,823 sq ft (169 sqm).

TERMS
The virtual freehold of property is available with the asking price £475,000 subject to the lease back.

SERVICES
The property has mains electricity, water and drainage. Please note Joscelyne chase has not tested any of these services.

RATEABLE VALUE
The current rateable value is £15,750 and is described as a Cafe and premises. Applicants are welcome to make enquiries with Braintree District Council, T. regarding the business rates.

LEGAL FEES
Each party is responsible for their own legal costs.

ENERGY PERFORMANCE CERTIFICATE (EPC)
The property has an energy rating C (60). Please contact our office if you would like a copy of the full report.

ANTI-MONEY LAUNDERING REGULATIONS
Joscelyne Chase are required to formally verify prospective purchaser’s identity, residence and source of funds prior to instructing solicitors in order to comply with anti-money laundering regulations.

VIEWING
Strictly by appointment with JOSCELYNE CHASE, please contact the Commercial Department.

Little Square, Braintree, Essex, CM7

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Braintree Station0.3 miles
  • Braintree Freeport Station1.0 miles
  • Cressing Station2.2 miles

About Joscelyne Chase Commercial, Essex

18-20 Bank Street, Braintree, CM7 1UP

Joscelyne Chase, providing estate agent services to clients across Essex and Suffolk with origins dating back to 1777 whilst remaining privately owned. We are the only commercial agent based in Braintree and have the knowledge dating back centuries to assist you with your property needs.

Notes

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Disclaimer - Property reference JCH240165. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Joscelyne Chase Commercial, Essex. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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