Bank Street, Braintree, Essex, CM7

COMMERCIAL PROPERTY INVESTMENT 11% YIELD
PRICE: £150,000 – VIRTUAL FREEHOLD
LOCATION – BANK STREET, BRAINTREE – ESSEX
REF: I0028E
ADVERT: (Only Available To Registered Applicants)

DESCRIPTION:
COMMERCIAL PROPERTY INVESTMENT – VIRTUAL FREEHOLD – retuning an 11% YIELD occupying an EXCEPTIONAL TRADING POSITION in the AFFLUENT AREA OF BRAINTREE in the TOWN CENTRE and located CLOSE TO CAR PARKS. The property has UNDERGONE A MAJOR REFURBISHMENT and comes to market EXCEPTIONALLY WELL PRESENTED with a LONG-TERM EXPERIENCED OPERATOR. The property itself has a LONG HISTORY OF CATERING USE and would also suit RETAIL USE which we believe this minimises the risk of an untenanted property. TOTAL RENTAL INCOME £17,000 PLUS VAT. Measuring approximately 820 Sq. Ft. the premises benefits include EXTERNAL SEATING, LARGE TRADING AREA, AND A GOOD-SIZED REAR STORE. The premises are held on a LONG LEASEHOLD OF 99 YEARS with approximately 31 years remaining paying a ground rent of £300 per annum. The premises are CURRENTLY LET AT £17,000 PER ANNUM plus VAT.

Location:
The premises occupies a main trading position within the town centre uniquely sandwiched between Lloyds Bank and Ladbrokes as well as being surrounded by all the major high street retailers, supermarkets, banks and offices. The trading position is close to the main road going through the town and the shopping centre therefore creating a highly enviable passing footfall with natural organic vehicular traffic.

Tenure: VIRTUAL FREEHOLD
The property is held on a virtual freehold/long leasehold of 99 years with approximately 31 years unexpired with a ground rent payable of £300 per annum. The premises are currently let on an underlease to an experienced operator with multiple businesses for a term of 15 years commencing July 2024 and producing a rental income of £17,000 per annum plus VAT. The underlease contains rent reviews every 5th anniversary and is contracted outside of the LTA 1954.