Restaurant for sale

Rainham Road, Rainham RM13


OIRO
£425,000
526 ft²

Features

  • Glazed frontage
  • Pay & Display car park nearby
  • Prominent position at busy Cherry Tree Junction
  • Rear access/courtyard

Description

Location
The property occupies a position fronting Rainham Road, close to Tesco Express, kfc, The Dragon Inn and cg Hair Salon. The property is in close proximity to Cherry Tree Pay and Display Car Park. Rainham Station is approximately 1 mile away, providing a service to London (Fenchurch Street) in around 25 minutes. The National Motorway network is available via the A13 approximately 1.5 miles due South.

The property
An end terrace property fronting Rainham Road comprising a self-contained ground floor fast food outlet with customer entrance to the front as well as access from the rear.

A separate entrance leads to a flat comprising a ground floor kitchen and three bedrooms, lounge and bathroom at first floor level. The flat features double glazed windows and central heating. We are advised there is also a large loft but were unable to access such at the time of our visit.

Accommodation Measured in accordance with the RICS Code of Measuring Guide the approximate net internal floor area of the commercial area is:
Total 526 sq ft 48.9 sq m Plus three bedroom flat

Figures
Offers in the region of £425,000 for the freehold interest subject to the current tenants. We understand that the sale price is not subject to VAT.
EPC

The EPC rating for the commercial area is E119.
The EPC rating for the flat is E49.

Business rates
The Ratable Value is £6,000 (2017), making Nil rates payable under current Small Business Rate Relief Rules (19/20).

Legal costs
Each party is to be responsible for the payment of its own legal costs.

Tenants
The restaurant is let on a full repairing and insuring lease for 15 years from 30th July 2020 at £12,000 per annum exclusive, subject to upward only rent reviews every 3 years. There is a 3 month rent deposit.

The flat is let on an AST for 6 months being approximately half way through at £1,150 pcm.

The combined annual rent therefore is £25,800.

Agent's Note
All figures quoted are exclusive of Vat (if applicable)
No warranty is given is respect of the current planning use.
None of the amenities or fixtures and fittings have been tested.

Money Laundering Regulations
Due to recent money laundering regulations, all Tenants and Purchasers when making an offer on a property will need to provide a copy of their current Passport photo page and a recent Utility Bill confirming their current address.

Enquiries/Viewings
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Categories

Restaurants
Call
Property reference
CP378009_69